Auxano Advisors LLC Purchases Shares of 3,794 ESAB Co. (NYSE:ESAB)

Auxano Advisors LLC acquired a new position in ESAB Co. (NYSE:ESAB) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,794 shares of the company’s stock, valued at approximately $329,000.

A number of other hedge funds have also made changes to their positions in ESAB. Handelsbanken Fonder AB lifted its position in ESAB by 35.3% during the 3rd quarter. Handelsbanken Fonder AB now owns 9,200 shares of the company’s stock worth $646,000 after acquiring an additional 2,400 shares in the last quarter. Commonwealth Equity Services LLC purchased a new stake in ESAB during the 3rd quarter worth $295,000. Xponance Inc. lifted its holdings in ESAB by 4.6% in the 3rd quarter. Xponance Inc. now owns 6,785 shares of the company’s stock worth $476,000 after buying an additional 297 shares in the last quarter. Bank of New York Mellon Corp boosted its position in ESAB by 0.9% in the 3rd quarter. Bank of New York Mellon Corp now owns 519,566 shares of the company’s stock valued at $36,484,000 after buying an additional 4,838 shares during the last quarter. Finally, Caldwell Investment Management Ltd. grew its stake in shares of ESAB by 42.6% during the third quarter. Caldwell Investment Management Ltd. now owns 33,500 shares of the company’s stock valued at $2,337,000 after acquiring an additional 10,000 shares in the last quarter. Hedge funds and other institutional investors own 91.13% of the company’s stock.

Insiders Place Their Bets

In related news, Director Rajiv Vinnakota sold 856 shares of the firm’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $99.50, for a total value of $85,172.00. Following the sale, the director now directly owns 6,779 shares in the company, valued at approximately $674,510.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, Director Didier P. Teirlinck sold 2,512 shares of the company’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $99.00, for a total value of $248,688.00. Following the completion of the sale, the director now owns 33,863 shares in the company, valued at $3,352,437. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Rajiv Vinnakota sold 856 shares of ESAB stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $99.50, for a total value of $85,172.00. Following the transaction, the director now directly owns 6,779 shares in the company, valued at $674,510.50. The disclosure for this sale can be found here. In the last 90 days, insiders sold 10,833 shares of company stock worth $1,074,985. Insiders own 7.20% of the company’s stock.

ESAB Stock Performance

Shares of NYSE:ESAB traded down $1.97 during trading on Tuesday, hitting $105.88. 291,324 shares of the company traded hands, compared to its average volume of 235,655. The company has a quick ratio of 0.98, a current ratio of 1.61 and a debt-to-equity ratio of 0.62. The business’s fifty day moving average is $104.47 and its 200-day moving average is $89.25. The stock has a market capitalization of $6.40 billion, a price-to-earnings ratio of 32.10, a PEG ratio of 2.20 and a beta of 1.54. ESAB Co. has a one year low of $56.69 and a one year high of $114.77.

ESAB (NYSE:ESAB) last issued its quarterly earnings data on Thursday, February 29th. The company reported $1.13 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $0.08. ESAB had a return on equity of 17.57% and a net margin of 7.40%. The firm had revenue of $689.40 million during the quarter, compared to the consensus estimate of $644.51 million. During the same period in the prior year, the business earned $1.05 EPS. The firm’s revenue was up 3.8% on a year-over-year basis. As a group, equities analysts predict that ESAB Co. will post 4.82 earnings per share for the current fiscal year.

ESAB Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Friday, March 29th were paid a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.23%. The ex-dividend date of this dividend was Wednesday, March 27th. ESAB’s payout ratio is 7.14%.

Wall Street Analyst Weigh In

Several research firms have issued reports on ESAB. JPMorgan Chase & Co. upgraded ESAB from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $111.00 to $125.00 in a report on Monday, March 18th. Stifel Nicolaus boosted their price objective on ESAB from $106.00 to $114.00 and gave the company a “buy” rating in a report on Friday, March 1st. Finally, Evercore ISI increased their target price on ESAB from $93.00 to $100.00 and gave the stock an “in-line” rating in a report on Tuesday, March 5th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, ESAB has an average rating of “Moderate Buy” and a consensus price target of $93.75.

ESAB 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.