Allspring Global Investments Holdings LLC Reduces Holdings in ESAB Co. (NYSE:ESAB)

Allspring Global Investments Holdings LLC decreased its position in shares of ESAB Co. (NYSE:ESAB) by 7.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 430,909 shares of the company’s stock after selling 35,608 shares during the period. Allspring Global Investments Holdings LLC’s holdings in ESAB were worth $51,001,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ESAB. Sanctuary Advisors LLC purchased a new stake in ESAB during the 2nd quarter worth $192,000. GAMMA Investing LLC increased its stake in ESAB by 55.9% during the 3rd quarter. GAMMA Investing LLC now owns 410 shares of the company’s stock worth $44,000 after buying an additional 147 shares during the period. Vontobel Holding Ltd. increased its stake in ESAB by 2.8% during the 3rd quarter. Vontobel Holding Ltd. now owns 17,846 shares of the company’s stock worth $1,897,000 after buying an additional 487 shares during the period. Blue Trust Inc. increased its stake in ESAB by 629.8% during the 3rd quarter. Blue Trust Inc. now owns 613 shares of the company’s stock worth $65,000 after buying an additional 529 shares during the period. Finally, International Assets Investment Management LLC purchased a new stake in ESAB during the 3rd quarter worth $15,110,000. Hedge funds and other institutional investors own 91.13% of the company’s stock.

ESAB Trading Up 3.9 %

NYSE ESAB opened at $128.89 on Friday. ESAB Co. has a one year low of $88.54 and a one year high of $135.97. The company has a 50-day simple moving average of $122.92 and a 200-day simple moving average of $114.34. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.25 and a current ratio of 1.92. The firm has a market capitalization of $7.79 billion, a PE ratio of 30.18, a price-to-earnings-growth ratio of 2.01 and a beta of 1.36.

ESAB Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, January 17th. Stockholders of record on Tuesday, December 31st were issued a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.25%. The ex-dividend date was Tuesday, December 31st. ESAB’s dividend payout ratio (DPR) is presently 7.49%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on ESAB. Loop Capital boosted their target price on shares of ESAB from $105.00 to $120.00 and gave the stock a “hold” rating in a research report on Wednesday, October 30th. Evercore ISI downgraded shares of ESAB from an “in-line” rating to an “underperform” rating and boosted their target price for the stock from $102.00 to $122.00 in a research report on Wednesday, November 13th. Jefferies Financial Group began coverage on shares of ESAB in a research report on Thursday, December 12th. They issued a “buy” rating and a $160.00 target price for the company. Oppenheimer reissued an “outperform” rating and issued a $144.00 target price (up previously from $138.00) on shares of ESAB in a research report on Friday, November 8th. Finally, Stifel Nicolaus boosted their target price on shares of ESAB from $130.00 to $131.00 and gave the stock a “hold” rating in a research report on Friday, January 24th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $133.57.

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.