Shilanski & Associates Inc. Sells 1,494 Shares of ESAB Co. (NYSE:ESAB)

Shilanski & Associates Inc. cut its position in ESAB Co. (NYSE:ESAB) by 7.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 19,008 shares of the company’s stock after selling 1,494 shares during the period. Shilanski & Associates Inc.’s holdings in ESAB were worth $2,281,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in ESAB. American Century Companies Inc. increased its position in ESAB by 73.5% in the 2nd quarter. American Century Companies Inc. now owns 8,895 shares of the company’s stock valued at $840,000 after acquiring an additional 3,768 shares in the last quarter. Envestnet Asset Management Inc. increased its holdings in shares of ESAB by 8.8% in the second quarter. Envestnet Asset Management Inc. now owns 71,700 shares of the company’s stock valued at $6,771,000 after purchasing an additional 5,771 shares in the last quarter. Vanguard Personalized Indexing Management LLC lifted its holdings in ESAB by 5.1% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 3,829 shares of the company’s stock worth $362,000 after buying an additional 185 shares in the last quarter. Pacer Advisors Inc. boosted its position in ESAB by 13.9% in the 2nd quarter. Pacer Advisors Inc. now owns 15,974 shares of the company’s stock valued at $1,508,000 after buying an additional 1,952 shares during the last quarter. Finally, Sei Investments Co. increased its stake in shares of ESAB by 14.2% in the 2nd quarter. Sei Investments Co. now owns 147,281 shares of the company’s stock valued at $13,908,000 after buying an additional 18,328 shares during the period. 91.13% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

ESAB has been the topic of several research reports. Stifel Nicolaus lowered ESAB from a “buy” rating to a “hold” rating and cut their price target for the company from $138.00 to $130.00 in a research note on Monday, November 18th. Oppenheimer reaffirmed an “outperform” rating and issued a $144.00 target price (up previously from $138.00) on shares of ESAB in a research note on Friday, November 8th. Evercore ISI downgraded shares of ESAB from an “in-line” rating to an “underperform” rating and boosted their price target for the stock from $102.00 to $122.00 in a research note on Wednesday, November 13th. JPMorgan Chase & Co. raised their price objective on shares of ESAB from $120.00 to $128.00 and gave the company an “overweight” rating in a research note on Monday, September 30th. Finally, Loop Capital upped their target price on shares of ESAB from $105.00 to $120.00 and gave the company a “hold” rating in a research report on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $133.43.

Insider Transactions at ESAB

In other news, Director Rhonda L. Jordan sold 4,254 shares of the stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $125.03, for a total transaction of $531,877.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Shyam Kambeyanda sold 59,120 shares of ESAB stock in a transaction dated 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 completion of the sale, the chief executive officer now directly owns 53,902 shares in the company, valued at approximately $6,627,789.92. This represents a 52.31 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 68,418 shares of company stock valued at $8,431,773 in the last ninety days. 7.00% of the stock is currently owned by corporate insiders.

ESAB Trading Down 1.3 %

NYSE ESAB opened at $123.70 on Friday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.92 and a quick ratio of 1.25. The stock’s 50-day moving average is $124.16 and its 200-day moving average is $111.72. ESAB Co. has a one year low of $85.79 and a one year high of $135.97. The firm has a market cap of $7.48 billion, a P/E ratio of 28.97, a P/E/G ratio of 2.01 and a beta of 1.37.

ESAB (NYSE:ESAB) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $1.25 earnings per share for the quarter, beating analysts’ consensus estimates of $1.12 by $0.13. The firm had revenue of $673.00 million for the quarter, compared to analyst estimates of $620.50 million. ESAB had a net margin of 9.47% and a return on equity of 17.27%. The business’s revenue was down 1.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.08 earnings per share. Sell-side analysts anticipate that ESAB Co. will post 4.93 earnings per share for the current fiscal year.

ESAB Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 17th. Shareholders of record on Tuesday, December 31st were given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.26%. The ex-dividend date of this dividend was Tuesday, December 31st. ESAB’s dividend payout ratio (DPR) is currently 7.49%.

About ESAB

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.