State of Alaska Department of Revenue Has $3.56 Million Position in ESAB Co. (NYSE:ESAB)

State of Alaska Department of Revenue grew its holdings in ESAB Co. (NYSE:ESAB) by 1.3% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 33,463 shares of the company’s stock after purchasing an additional 445 shares during the quarter. State of Alaska Department of Revenue owned about 0.06% of ESAB worth $3,556,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. ORG Partners LLC acquired a new stake in ESAB during the first quarter worth about $35,000. Whittier Trust Co. grew its position in ESAB by 302.6% during the first quarter. Whittier Trust Co. now owns 314 shares of the company’s stock worth $35,000 after buying an additional 236 shares in the last quarter. Hantz Financial Services Inc. acquired a new stake in ESAB during the second quarter worth about $42,000. GAMMA Investing LLC grew its position in ESAB by 55.9% during the third quarter. GAMMA Investing LLC now owns 410 shares of the company’s stock worth $44,000 after buying an additional 147 shares in the last quarter. Finally, Blue Trust Inc. grew its position in ESAB by 629.8% during the third quarter. Blue Trust Inc. now owns 613 shares of the company’s stock worth $65,000 after buying an additional 529 shares in the last quarter. 91.13% of the stock is owned by institutional investors and hedge funds.

ESAB Stock Performance

NYSE:ESAB opened at $125.54 on Thursday. ESAB Co. has a 1 year low of $62.57 and a 1 year high of $127.33. The firm has a 50 day moving average of $104.72 and a 200-day moving average of $101.75. The company has a current ratio of 1.86, a quick ratio of 1.21 and a debt-to-equity ratio of 0.62. The stock has a market capitalization of $7.59 billion, a P/E ratio of 29.40, a price-to-earnings-growth ratio of 1.93 and a beta of 1.42.

ESAB (NYSE:ESAB) last posted its earnings results on Tuesday, October 29th. The company reported $1.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.12 by $0.13. ESAB had a net margin of 9.06% and a return on equity of 17.49%. The company had revenue of $673.00 million during the quarter, compared to analysts’ expectations of $620.50 million. During the same quarter in the previous year, the company posted $1.08 earnings per share. ESAB’s quarterly revenue was down 1.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that ESAB Co. will post 4.83 EPS for the current fiscal year.

ESAB Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Friday, September 27th were paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.25%. The ex-dividend date of this dividend was Friday, September 27th. ESAB’s dividend payout ratio (DPR) is currently 7.49%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on ESAB. JPMorgan Chase & Co. lifted their target price on ESAB from $120.00 to $128.00 and gave the stock an “overweight” rating in a research report on Monday, September 30th. Oppenheimer reaffirmed an “outperform” rating and set a $138.00 price objective (up from $122.00) on shares of ESAB in a report on Wednesday. Bank of America lifted their price objective on ESAB from $115.00 to $130.00 and gave the company a “buy” rating in a report on Monday, August 5th. Evercore ISI decreased their price objective on ESAB from $107.00 to $102.00 and set an “in-line” rating on the stock in a report on Monday, August 19th. Finally, Stifel Nicolaus decreased their price objective on ESAB from $130.00 to $120.00 and set a “buy” rating on the stock in a report on Thursday, July 18th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, ESAB currently has an average rating of “Moderate Buy” and an average target price of $119.00.

ESAB Company Profile

ESAB Corporation engages in the formulation, development, manufacture, and supply of consumable products and equipment for use in cutting, joining, automated welding, and gas control equipment. Its comprehensive range of welding consumables includes electrodes, cored and solid wires, and fluxes using a range of specialty and other materials; and cutting consumables comprising electrodes, nozzles, shields, and tips.