Dundas Partners LLP Purchases 678 Shares of ESAB Co. (NYSE:ESAB)

Dundas Partners LLP raised its stake in ESAB Co. (NYSE:ESAB) by 19.6% during the fourth quarter, Holdings Channel reports. The fund owned 4,132 shares of the company’s stock after buying an additional 678 shares during the period. Dundas Partners LLP’s holdings in ESAB were worth $496,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Louisiana State Employees Retirement System grew its holdings in ESAB by 0.6% during the 4th quarter. Louisiana State Employees Retirement System now owns 15,800 shares of the company’s stock valued at $1,895,000 after buying an additional 100 shares in the last quarter. Arizona State Retirement System grew its stake in ESAB by 0.8% in the 4th quarter. Arizona State Retirement System now owns 16,664 shares of the company’s stock worth $1,999,000 after buying an additional 135 shares in the last quarter. GAMMA Investing LLC raised its position in ESAB by 33.9% during the fourth quarter. GAMMA Investing LLC now owns 549 shares of the company’s stock valued at $66,000 after purchasing an additional 139 shares in the last quarter. Legacy Capital Group California Inc. raised its holdings in shares of ESAB by 6.0% during the 4th quarter. Legacy Capital Group California Inc. now owns 2,459 shares of the company’s stock valued at $295,000 after buying an additional 139 shares in the last quarter. Finally, Asset Management One Co. Ltd. lifted its holdings 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 worth $119,000 after acquiring an additional 190 shares during the last quarter. 91.13% of the stock is owned by institutional investors.

ESAB Trading Up 1.5 %

Shares of ESAB stock opened at $122.33 on Friday. ESAB Co. has a twelve month low of $88.54 and a twelve month high of $135.97. The company has a quick ratio of 1.25, a current ratio of 1.82 and a debt-to-equity ratio of 0.59. The business has a 50-day moving average price of $122.27 and a 200-day moving average price of $117.39. The firm has a market cap of $7.40 billion, a price-to-earnings ratio of 28.32, a PEG ratio of 2.01 and a beta of 1.36.

ESAB (NYSE:ESAB) last released its quarterly earnings results on Thursday, February 20th. The company reported $1.28 earnings per share for the quarter, beating 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 return on equity of 17.43% and a net margin of 9.66%. Equities research analysts anticipate that ESAB Co. will post 5.16 EPS for the current fiscal year.

ESAB Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 17th. Investors of record on Friday, April 4th will be paid 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 is Friday, April 4th. ESAB’s payout ratio is 7.41%.

Wall Street Analyst Weigh In

ESAB has been the topic of several recent research reports. Jefferies Financial Group began coverage on ESAB in a research report on Thursday, December 12th. They set a “buy” rating and a $160.00 price target on the stock. Evercore ISI upgraded ESAB from an “underperform” rating to an “inline” rating and reduced their target price for the stock from $122.00 to $120.00 in a report on Monday, February 24th. Stifel Nicolaus reduced their target price on shares of ESAB from $131.00 to $125.00 and set a “hold” rating on the stock in a research report on Friday, February 21st. Finally, JPMorgan Chase & Co. dropped their target price on ESAB from $135.00 to $133.00 and set an “overweight” rating on the stock in a report on Friday, February 21st. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $133.14.

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.