Oregon Public Employees Retirement Fund raised its position in shares of ESAB Co. (NYSE:ESAB – Get Rating) by 2.8% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,282 shares of the company's stock after acquiring an additional 365 shares during the period. Oregon Public Employees Retirement Fund's holdings in ESAB were worth $443,000 at the end of the most recent quarter.
A number of other institutional investors also recently made changes to their positions in the company. Lindbrook Capital LLC bought a new stake in shares of ESAB in the second quarter valued at approximately $30,000. US Bancorp DE bought a new stake in shares of ESAB in the second quarter valued at approximately $43,000. Quantbot Technologies LP bought a new stake in shares of ESAB in the second quarter valued at approximately $46,000. Quent Capital LLC bought a new stake in shares of ESAB in the second quarter valued at approximately $50,000. Finally, Godsey & Gibb Associates bought a new stake in shares of ESAB in the second quarter valued at approximately $53,000. Institutional investors own 80.23% of the company's stock.
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Wall Street Analysts Forecast Growth
Separately, Stifel Nicolaus boosted their price target on ESAB from $55.00 to $60.00 and gave the company a "buy" rating in a research note on Friday, January 20th.
Insider Transactions at ESAB
In related news, Director Mitchell P. Rales purchased 500,000 shares of the stock in a transaction dated Wednesday, November 16th. The stock was bought at an average cost of $40.00 per share, for a total transaction of $20,000,000.00. Following the completion of the acquisition, the director now owns 1,414,098 shares of the company's stock, valued at $56,563,920. The transaction was disclosed in a document filed with the SEC, which can be accessed through
this link. In related news, Director Christopher M. Hix sold 1,965 shares of the stock in a transaction on Wednesday, December 14th. The stock was sold at an average price of $47.55, for a total value of $93,435.75. Following the completion of the sale, the director now directly owns 34,200 shares in the company, valued at $1,626,210. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through
the SEC website. Also, Director Mitchell P. Rales acquired 500,000 shares of the firm's stock in a transaction that occurred on Wednesday, November 16th. The stock was bought at an average price of $40.00 per share, with a total value of $20,000,000.00. Following the completion of the acquisition, the director now directly owns 1,414,098 shares of the company's stock, valued at $56,563,920. The disclosure for this purchase can be found
here.
ESAB Price Performance
Shares of ESAB opened at $56.58 on Friday. ESAB Co. has a one year low of $32.12 and a one year high of $58.08. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.89 and a current ratio of 1.62. The firm has a 50 day simple moving average of $49.31 and a two-hundred day simple moving average of $42.96.
ESAB (NYSE:ESAB – Get Rating) last announced its quarterly earnings data on Thursday, November 3rd. The company reported $0.92 EPS for the quarter, beating the consensus estimate of $0.82 by $0.10. The firm had revenue of $620.27 million for the quarter, compared to analyst estimates of $574.98 million. On average, equities research analysts anticipate that ESAB Co. will post 4.1 EPS for the current year.
ESAB Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, January 13th. Stockholders of record on Friday, December 30th were issued a dividend of $0.05 per share. The ex-dividend date of this dividend was Thursday, December 29th. This represents a $0.20 annualized dividend and a dividend yield of 0.35%.
ESAB Company Profile
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ESAB Corporation engages in the formulation, development, manufacture, and supply of consumable products and equipment for use in cutting, joining, and automated welding, as well as 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.
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