Advantage Alpha Capital Partners LP Acquires 1,939 Shares of ESAB Co. (NYSE:ESAB)

Advantage Alpha Capital Partners LP increased its position in shares of ESAB Co. (NYSE:ESAB) by 6.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 30,204 shares of the company’s stock after buying an additional 1,939 shares during the period. Advantage Alpha Capital Partners LP’s holdings in ESAB were worth $3,211,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of ESAB. FMR LLC increased its position in ESAB by 6.2% in the 3rd quarter. FMR LLC now owns 2,196,522 shares of the company’s stock worth $233,512,000 after buying an additional 127,714 shares during the period. Champlain Investment Partners LLC increased its position in ESAB by 33.5% during the third quarter. Champlain Investment Partners LLC now owns 1,081,639 shares of the company’s stock worth $114,989,000 after acquiring an additional 271,459 shares during the period. Royce & Associates LP increased its position in ESAB by 8.6% during the third quarter. Royce & Associates LP now owns 749,752 shares of the company’s stock worth $79,706,000 after acquiring an additional 59,447 shares during the period. TD Asset Management Inc raised its stake in ESAB by 5.4% during the 2nd quarter. TD Asset Management Inc now owns 531,122 shares of the company’s stock valued at $50,154,000 after purchasing an additional 27,202 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of ESAB by 1.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 517,321 shares of the company’s stock worth $54,996,000 after purchasing an additional 8,235 shares during the period. Institutional investors own 91.13% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on ESAB shares. JPMorgan Chase & Co. boosted their price objective on ESAB from $120.00 to $128.00 and gave the company an “overweight” rating in a research report on Monday, September 30th. Stifel Nicolaus lowered shares of ESAB from a “buy” rating to a “hold” rating and lowered their price target for the company from $138.00 to $130.00 in a report on Monday, November 18th. Oppenheimer reaffirmed an “outperform” rating and set a $144.00 price objective (up from $138.00) on shares of ESAB in a report on Friday, November 8th. 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 note on Wednesday, October 30th. Finally, Evercore ISI cut shares of ESAB from an “in-line” rating to an “underperform” rating and raised their price target for the stock from $102.00 to $122.00 in a research note on Wednesday, November 13th. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $124.14.

ESAB Stock Up 1.2 %

Shares of ESAB stock opened at $129.12 on Tuesday. The business has a fifty day simple moving average of $114.48 and a 200 day simple moving average of $104.31. The stock has a market cap of $7.81 billion, a PE ratio of 30.24, a price-to-earnings-growth ratio of 2.23 and a beta of 1.37. The company has a quick ratio of 1.25, a current ratio of 1.92 and a debt-to-equity ratio of 0.58. ESAB Co. has a 12 month low of $76.08 and a 12 month high of $135.97.

ESAB (NYSE:ESAB) last released its quarterly earnings data on Tuesday, October 29th. The company reported $1.25 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.13. The business 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%. During the same quarter last year, the firm earned $1.08 EPS. ESAB’s quarterly revenue was down 1.2% compared to the same quarter last year. Research analysts predict that ESAB Co. will post 4.94 EPS for the current year.

ESAB Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Friday, September 27th were issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.25%. The ex-dividend date of this dividend was Friday, September 27th. ESAB’s dividend payout ratio (DPR) is presently 7.49%.

Insider Activity at ESAB

In other ESAB news, CEO Shyam Kambeyanda sold 59,120 shares of ESAB stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $122.96, for a total value of $7,269,395.20. Following the sale, the chief executive officer now owns 53,902 shares of the company’s stock, valued at $6,627,789.92. This trade represents a 52.31 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Kevin J. Johnson sold 5,044 shares of the company’s stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $125.00, for a total value of $630,500.00. Following the transaction, the chief financial officer now directly owns 11,433 shares of the company’s stock, valued at $1,429,125. This represents a 30.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 68,418 shares of company stock worth $8,431,773. 7.20% of the stock is owned by company insiders.

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.