ESAB Co. (NYSE:ESAB) Shares Purchased by Victory Capital Management Inc.

Victory Capital Management Inc. increased its stake in shares of ESAB Co. (NYSE:ESAB) by 7.7% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 27,878 shares of the company’s stock after purchasing an additional 1,996 shares during the period. Victory Capital Management Inc.’s holdings in ESAB were worth $2,964,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ESAB. GAMMA Investing LLC raised its position in shares of ESAB by 55.9% in the 3rd quarter. GAMMA Investing LLC now owns 410 shares of the company’s stock valued at $44,000 after purchasing an additional 147 shares in the last quarter. Hantz Financial Services Inc. acquired a new position in shares of ESAB in the 2nd quarter valued at approximately $42,000. Blue Trust Inc. raised its position in shares of ESAB by 629.8% in the 3rd quarter. Blue Trust Inc. now owns 613 shares of the company’s stock valued at $65,000 after purchasing an additional 529 shares in the last quarter. Ridgewood Investments LLC acquired a new position in shares of ESAB in the 2nd quarter valued at approximately $92,000. Finally, Asset Management One Co. Ltd. raised its position in shares of ESAB by 20.4% in the 3rd quarter. Asset Management One Co. Ltd. now owns 1,123 shares of the company’s stock valued at $119,000 after purchasing an additional 190 shares in the last quarter. 91.13% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at ESAB

In related news, Director Rhonda L. Jordan sold 4,254 shares of the firm’s stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $125.03, for a total transaction of $531,877.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Shyam Kambeyanda sold 59,120 shares of the firm’s stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $122.96, for a total value of $7,269,395.20. Following the sale, the chief executive officer now directly owns 53,902 shares of the company’s stock, valued at $6,627,789.92. This represents a 52.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 68,418 shares of company stock valued at $8,431,773. Corporate insiders own 7.00% of the company’s stock.

Analyst Upgrades and Downgrades

ESAB has been the subject of a number of research analyst reports. JPMorgan Chase & Co. boosted their price target on ESAB from $120.00 to $128.00 and gave the company an “overweight” rating in a report on Monday, September 30th. Bank of America upped 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. Oppenheimer reaffirmed an “outperform” rating and set a $144.00 target price (up from $138.00) on shares of ESAB in a report on Friday, November 8th. Evercore ISI lowered ESAB from an “in-line” rating to an “underperform” rating and upped their price target for the company from $102.00 to $122.00 in a research report on Wednesday, November 13th. Finally, Loop Capital upped their target price on ESAB from $105.00 to $120.00 and gave the stock a “hold” rating in a research report on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, ESAB presently has an average rating of “Hold” and an average price target of $124.14.

ESAB Price Performance

Shares of ESAB stock opened at $127.54 on Friday. The stock has a 50 day moving average of $114.48 and a two-hundred day moving average of $104.39. The company has a current ratio of 1.92, a quick ratio of 1.25 and a debt-to-equity ratio of 0.58. ESAB Co. has a 12 month low of $76.08 and a 12 month high of $135.97. The company has a market capitalization of $7.71 billion, a P/E ratio of 29.87, a P/E/G ratio of 2.19 and a beta of 1.37.

ESAB (NYSE:ESAB) last issued its earnings results on Tuesday, October 29th. The company reported $1.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.12 by $0.13. ESAB had a return on equity of 17.27% and a net margin of 9.47%. The business had revenue of $673.00 million during the quarter, compared to analysts’ expectations of $620.50 million. During the same period in the prior year, the firm posted $1.08 EPS. ESAB’s quarterly revenue was down 1.2% compared to the same quarter last year. As a group, equities analysts expect that ESAB Co. will post 4.94 EPS for the current year.

ESAB Dividend Announcement

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

ESAB 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.