Sei Investments Co. Grows Position in ESAB Co. (NYSE:ESAB)

Sei Investments Co. lifted its position in shares of ESAB Co. (NYSE:ESAB) by 8.1% during the fourth quarter, Holdings Channel.com reports. The firm owned 132,642 shares of the company’s stock after acquiring an additional 9,930 shares during the period. Sei Investments Co.’s holdings in ESAB were worth $15,909,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in ESAB. Quest Partners LLC grew its position in ESAB by 12,140.0% during the third quarter. Quest Partners LLC now owns 612 shares of the company’s stock valued at $65,000 after buying an additional 607 shares during the period. Charles Schwab Investment Management Inc. grew its position 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 valued at $54,996,000 after acquiring an additional 8,235 shares during the period. FMR LLC grew its position in shares of ESAB by 6.2% during the 3rd quarter. FMR LLC now owns 2,196,522 shares of the company’s stock valued at $233,512,000 after acquiring an additional 127,714 shares during the period. Townsquare Capital LLC purchased a new position in shares of ESAB in the 3rd quarter valued at about $203,000. Finally, Edgestream Partners L.P. raised its holdings in ESAB by 17.6% in the 3rd quarter. Edgestream Partners L.P. now owns 75,523 shares of the company’s stock worth $8,029,000 after purchasing an additional 11,284 shares during the period. 91.13% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. Evercore ISI raised ESAB from an “underperform” rating to an “inline” rating and dropped their price objective for the company from $122.00 to $120.00 in a report on Monday, February 24th. JPMorgan Chase & Co. lifted their price target on shares of ESAB from $133.00 to $140.00 and gave the company an “overweight” rating in a research note on Tuesday, March 18th. Jefferies Financial Group began 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. Finally, Stifel Nicolaus dropped 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. 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, the company has an average rating of “Moderate Buy” and an average price target of $134.14.

ESAB Trading Down 3.1 %

Shares of ESAB stock opened at $115.92 on Friday. ESAB Co. has a fifty-two week low of $88.54 and a fifty-two week high of $135.97. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.25 and a current ratio of 1.82. The stock’s fifty day moving average is $122.69 and its two-hundred day moving average is $119.50. The firm has a market capitalization of $7.02 billion, a P/E ratio of 26.83, a PEG ratio of 2.01 and a beta of 1.36.

ESAB (NYSE:ESAB) last posted its quarterly earnings results on Thursday, February 20th. The company reported $1.28 earnings per share for the quarter, topping analysts’ consensus estimates of $1.15 by $0.13. ESAB had a net margin of 9.66% and a return on equity of 17.43%. The firm had revenue of $633.20 million for the quarter, compared to analyst estimates of $636.43 million. Research analysts expect that ESAB Co. will post 5.16 earnings per share for the current fiscal year.

ESAB Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 17th. Stockholders of record on Friday, April 4th will be given a $0.08 dividend. The ex-dividend date is Friday, April 4th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.28%. ESAB’s dividend payout ratio (DPR) is presently 7.41%.

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.