ORG Wealth Partners LLC Takes Position in ESAB Co. (NYSE:ESAB)

ORG Wealth Partners LLC bought a new position in shares of ESAB Co. (NYSE:ESAB) during the fourth quarter, according to its most recent filing with the SEC. The fund bought 287 shares of the company’s stock, valued at approximately $34,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. GAMMA Investing LLC boosted its stake in ESAB by 55.9% in the third quarter. GAMMA Investing LLC now owns 410 shares of the company’s stock valued at $44,000 after acquiring an additional 147 shares during the last quarter. Quest Partners LLC lifted its stake in ESAB by 12,140.0% in the third quarter. Quest Partners LLC now owns 612 shares of the company’s stock valued at $65,000 after purchasing an additional 607 shares during the last quarter. Blue Trust Inc. lifted its holdings in ESAB by 629.8% during the third quarter. Blue Trust Inc. now owns 613 shares of the company’s stock valued at $65,000 after purchasing an additional 529 shares during the last quarter. Millburn Ridgefield Corp bought a new position in ESAB during the third quarter worth about $77,000. Finally, Asset Management One Co. Ltd. increased its stake in shares of ESAB by 20.4% in the third quarter. Asset Management One Co. Ltd. now owns 1,123 shares of the company’s stock worth $119,000 after purchasing an additional 190 shares in the last quarter. 91.13% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently commented on ESAB. Jefferies Financial Group started coverage on shares of ESAB in a research note on Thursday, December 12th. They set a “buy” rating and a $160.00 price target on the stock. Loop Capital raised their price target on ESAB from $105.00 to $120.00 and gave the stock a “hold” rating in a report on Wednesday, October 30th. Oppenheimer reiterated an “outperform” rating and issued a $144.00 price target (up from $138.00) on shares of ESAB in a research report on Friday, November 8th. Evercore ISI cut ESAB from an “in-line” rating to an “underperform” rating and increased their price objective for the stock from $102.00 to $122.00 in a report on Wednesday, November 13th. Finally, Stifel Nicolaus lowered ESAB from a “buy” rating to a “hold” rating and reduced their target price for the company from $138.00 to $130.00 in a report on Monday, November 18th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, ESAB currently has an average rating of “Hold” and an average price target of $133.43.

ESAB Price Performance

ESAB stock opened at $115.28 on Friday. The stock has a market cap of $6.97 billion, a price-to-earnings ratio of 27.00, a PEG 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. The business has a 50-day simple moving average of $125.48 and a 200 day simple moving average of $109.84. ESAB Co. has a 52 week low of $82.64 and a 52 week high of $135.97.

ESAB (NYSE:ESAB) last issued its quarterly earnings data on Tuesday, October 29th. The company reported $1.25 EPS for the quarter, topping the consensus estimate of $1.12 by $0.13. The company had revenue of $673.00 million during the quarter, compared to analyst estimates of $620.50 million. ESAB had a return on equity of 17.27% and a net margin of 9.47%. ESAB’s revenue was down 1.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.08 earnings per share. On average, research analysts forecast that ESAB Co. will post 4.93 earnings per share for the current fiscal year.

ESAB Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Tuesday, December 31st will be issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.28%. The ex-dividend date of this dividend is Tuesday, December 31st. ESAB’s dividend payout ratio is currently 7.49%.

Insider Buying and Selling

In other news, CFO Kevin J. Johnson sold 5,044 shares of the company’s stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $125.00, for a total value of $630,500.00. Following the completion of the sale, the chief financial officer now owns 11,433 shares of the company’s stock, valued at approximately $1,429,125. This represents a 30.61 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Shyam Kambeyanda sold 59,120 shares of ESAB stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $122.96, for a total transaction of $7,269,395.20. Following the completion of the transaction, the chief executive officer now owns 53,902 shares in the company, valued at approximately $6,627,789.92. The trade was a 52.31 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 68,418 shares of company stock worth $8,431,773. Corporate insiders own 7.00% of the company’s stock.

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.