ESAB Co. (NYSE:ESAB) Stock Position Lowered by Ancora Advisors LLC

Ancora Advisors LLC lessened its position in ESAB Co. (NYSE:ESAB) by 0.2% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 56,517 shares of the company’s stock after selling 100 shares during the period. Ancora Advisors LLC owned approximately 0.09% of ESAB worth $6,249,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of ESAB. Whittier Trust Co. raised its position in ESAB by 302.6% during the first quarter. Whittier Trust Co. now owns 314 shares of the company’s stock valued at $35,000 after buying an additional 236 shares during the period. ORG Partners LLC acquired a new position in shares of ESAB during the 1st quarter worth about $35,000. Nomura Asset Management Co. Ltd. lifted its position in shares of ESAB by 57.9% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 420 shares of the company’s stock worth $36,000 after purchasing an additional 154 shares during the last quarter. Johnson Financial Group Inc. acquired a new position in ESAB in the 4th quarter valued at approximately $39,000. Finally, Quest Partners LLC acquired a new position in ESAB in the 4th quarter valued at approximately $103,000. Institutional investors own 91.13% of the company’s stock.

ESAB Stock Up 3.0 %

ESAB traded up $3.04 on Wednesday, hitting $103.21. 88,543 shares of the company were exchanged, compared to its average volume of 252,801. ESAB Co. has a 12 month low of $61.43 and a 12 month high of $114.77. The company has a market cap of $6.24 billion, a PE ratio of 26.10, a PEG ratio of 1.72 and a beta of 1.43. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.01 and a current ratio of 1.65. The stock’s fifty day moving average is $97.22 and its 200-day moving average is $99.26.

ESAB (NYSE:ESAB) last announced its quarterly earnings results on Wednesday, May 1st. The company reported $1.20 earnings per share for the quarter, topping analysts’ consensus estimates of $1.11 by $0.09. The firm had revenue of $690.00 million for the quarter, compared to the consensus estimate of $653.93 million. ESAB had a return on equity of 17.59% and a net margin of 8.39%. The business’s revenue was up .9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.04 earnings per share. Equities research analysts predict that ESAB Co. will post 4.9 EPS for the current fiscal year.

ESAB Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 12th. Stockholders of record on Friday, June 28th were given a $0.08 dividend. This is an increase from ESAB’s previous quarterly dividend of $0.06. The ex-dividend date was Friday, June 28th. This represents a $0.32 annualized dividend and a dividend yield of 0.31%. ESAB’s dividend payout ratio is presently 8.38%.

Wall Street Analyst Weigh In

ESAB has been the subject of several recent research reports. Stifel Nicolaus cut their price target on ESAB from $130.00 to $120.00 and set a “buy” rating for the company in a report on Thursday, July 18th. Oppenheimer initiated coverage on ESAB in a report on Thursday, June 20th. They issued an “outperform” rating and a $115.00 price target for the company. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $99.38.

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.