ESAB Co. (NYSE:ESAB) Shares Sold by Cooke & Bieler LP

Cooke & Bieler LP lowered its position in shares of ESAB Co. (NYSE:ESAB) by 26.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 864,792 shares of the company’s stock after selling 315,854 shares during the period. Cooke & Bieler LP owned approximately 1.43% of ESAB worth $103,723,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. ORG Wealth Partners LLC purchased a new position in shares of ESAB during the 4th quarter worth approximately $34,000. SBI Securities Co. Ltd. purchased a new position in shares of ESAB during the 4th quarter worth approximately $36,000. Trust Co. of Vermont boosted its position in shares of ESAB by 871.0% during the 4th quarter. Trust Co. of Vermont now owns 301 shares of the company’s stock worth $36,000 after purchasing an additional 270 shares during the period. GAMMA Investing LLC boosted its position in shares of ESAB by 33.9% during the 4th quarter. GAMMA Investing LLC now owns 549 shares of the company’s stock worth $66,000 after purchasing an additional 139 shares during the period. Finally, Quest Partners LLC boosted its position in shares of ESAB by 12,140.0% during the 3rd quarter. Quest Partners LLC now owns 612 shares of the company’s stock worth $65,000 after purchasing an additional 607 shares during the period. Hedge funds and other institutional investors own 91.13% of the company’s stock.

ESAB Stock Performance

Shares of ESAB stock opened at $122.57 on Tuesday. The company has a quick ratio of 1.25, a current ratio of 1.82 and a debt-to-equity ratio of 0.59. ESAB Co. has a 52 week low of $88.54 and a 52 week high of $135.97. The stock has a market capitalization of $7.42 billion, a PE ratio of 28.37, a P/E/G ratio of 2.01 and a beta of 1.36. The firm has a 50 day moving average of $122.27 and a two-hundred day moving average of $117.64.

ESAB (NYSE:ESAB) last released its quarterly earnings data on Thursday, February 20th. The company reported $1.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.15 by $0.13. The business had revenue of $633.20 million during the quarter, compared to analysts’ expectations of $636.43 million. ESAB had a net margin of 9.66% and a return on equity of 17.43%. On average, research analysts predict that ESAB Co. will post 5.16 EPS for the current fiscal year.

ESAB Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 17th. Stockholders of record on Friday, April 4th will be given a dividend of $0.08 per share. The ex-dividend date is Friday, April 4th. This represents a $0.32 annualized dividend and a dividend yield of 0.26%. ESAB’s dividend payout ratio (DPR) is currently 7.41%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on ESAB shares. Jefferies Financial Group started coverage on shares of ESAB in a research report on Thursday, December 12th. They set a “buy” rating and a $160.00 price objective for the company. Stifel Nicolaus lowered their price objective on shares of ESAB from $131.00 to $125.00 and set a “hold” rating for the company in a research report on Friday, February 21st. JPMorgan Chase & Co. decreased their price target on shares of ESAB from $135.00 to $133.00 and set an “overweight” rating for the company in a research report on Friday, February 21st. Finally, Evercore ISI raised shares of ESAB from an “underperform” rating to an “inline” rating and decreased their price target for the company from $122.00 to $120.00 in a research report on Monday, February 24th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, ESAB has an average rating of “Moderate Buy” and an average target price of $133.14.

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.