Securian Asset Management Inc. Has $515,000 Stock Position in ESAB Co. (NYSE:ESAB)

Securian Asset Management Inc. reduced its stake in ESAB Co. (NYSE:ESAB) by 2.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,295 shares of the company’s stock after selling 102 shares during the quarter. Securian Asset Management Inc.’s holdings in ESAB were worth $515,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ESAB. EverSource Wealth Advisors LLC lifted its stake in shares of ESAB by 70.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 218 shares of the company’s stock worth $26,000 after acquiring an additional 90 shares during the period. ORG Wealth Partners LLC acquired a new position in shares of ESAB in the fourth quarter worth approximately $34,000. Trust Co. of Vermont lifted its stake in shares of ESAB by 871.0% in the fourth quarter. Trust Co. of Vermont now owns 301 shares of the company’s stock worth $36,000 after acquiring an additional 270 shares during the period. SBI Securities Co. Ltd. acquired a new position in shares of ESAB in the fourth quarter worth approximately $36,000. Finally, Quest Partners LLC lifted its stake in shares of ESAB by 12,140.0% in the third quarter. Quest Partners LLC now owns 612 shares of the company’s stock worth $65,000 after acquiring an additional 607 shares during the period. 91.13% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

ESAB Trading Up 1.4 %

NYSE ESAB opened at $121.98 on Tuesday. The company has a market cap of $7.38 billion, a price-to-earnings ratio of 28.24, a P/E/G ratio of 2.01 and a beta of 1.36. ESAB Co. has a 52 week low of $88.54 and a 52 week high of $135.97. The business has a 50 day moving average price of $122.43 and a 200-day moving average price of $118.28. The company has a quick ratio of 1.25, a current ratio of 1.82 and a debt-to-equity ratio of 0.59.

ESAB (NYSE:ESAB) last released its quarterly earnings data on Thursday, February 20th. The company reported $1.28 EPS for the quarter, beating the consensus estimate of $1.15 by $0.13. The firm had revenue of $633.20 million during the quarter, compared to the consensus estimate of $636.43 million. ESAB had a return on equity of 17.43% and a net margin of 9.66%. As a group, equities analysts expect that ESAB Co. will post 5.16 earnings per share for the current fiscal year.

ESAB Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 17th. Investors of record on Friday, April 4th will be issued a dividend of $0.08 per share. The ex-dividend date is Friday, April 4th. This represents a $0.32 annualized dividend and a yield of 0.26%. ESAB’s dividend payout ratio (DPR) is currently 7.41%.

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.