ESAB Co. (NYSE:ESAB) Shares Sold by Aigen Investment Management LP

Aigen Investment Management LP cut its holdings in shares of ESAB Co. (NYSE:ESAB) by 31.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,307 shares of the company’s stock after selling 2,874 shares during the period. Aigen Investment Management LP’s holdings in ESAB were worth $670,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. Hantz Financial Services Inc. bought a new position in shares of ESAB in the second quarter valued at $42,000. GAMMA Investing LLC lifted its holdings in shares of ESAB by 55.9% during the third quarter. GAMMA Investing LLC now owns 410 shares of the company’s stock valued at $44,000 after purchasing an additional 147 shares during the last quarter. Blue Trust Inc. boosted its position in shares of ESAB by 629.8% in the 3rd 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 period. Ridgewood Investments LLC purchased a new position in ESAB in the 2nd quarter worth about $92,000. Finally, Fifth Third Bancorp increased its stake in ESAB by 181.7% in the 2nd quarter. Fifth Third Bancorp now owns 1,259 shares of the company’s stock worth $119,000 after purchasing an additional 812 shares in the last quarter. 91.13% of the stock is currently owned by institutional investors.

ESAB Trading Down 2.3 %

NYSE ESAB opened at $128.93 on Thursday. The company has a current ratio of 1.92, a quick ratio of 1.25 and a debt-to-equity ratio of 0.58. ESAB Co. has a 1-year low of $76.08 and a 1-year high of $135.97. The firm’s fifty day simple moving average is $110.55 and its 200-day simple moving average is $103.45. The company has a market capitalization of $7.79 billion, a PE ratio of 30.19, a price-to-earnings-growth ratio of 2.31 and a beta of 1.37.

ESAB (NYSE:ESAB) last issued its earnings results on Tuesday, October 29th. The company reported $1.25 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.13. The company had revenue of $673.00 million for 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%. The business’s revenue was down 1.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.08 EPS. As a group, sell-side analysts anticipate that ESAB Co. will post 4.94 earnings per share for the current fiscal year.

ESAB Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Friday, September 27th were paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.25%. The ex-dividend date was Friday, September 27th. ESAB’s dividend payout ratio (DPR) is presently 7.49%.

Analysts Set New Price Targets

Several brokerages have commented on ESAB. Stifel Nicolaus decreased their target price on shares of ESAB from $130.00 to $120.00 and set a “buy” rating for the company in a report on Thursday, July 18th. JPMorgan Chase & Co. raised their price objective on shares of ESAB from $120.00 to $128.00 and gave the stock an “overweight” rating in a research note on Monday, September 30th. Bank of America boosted their target price on shares of ESAB from $115.00 to $130.00 and gave the company a “buy” rating in a research note on Monday, August 5th. Loop Capital raised their target price on ESAB from $105.00 to $120.00 and gave the stock a “hold” rating in a research report on Wednesday, October 30th. Finally, Oppenheimer reissued an “outperform” rating and set a $144.00 price target (up from $138.00) on shares of ESAB in a research report on Friday, November 8th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat, ESAB currently has an average rating of “Moderate Buy” and a consensus target price of $122.71.

Insiders Place Their Bets

In other news, Director Rhonda L. Jordan sold 4,254 shares of the firm’s stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $125.03, for a total transaction of $531,877.62. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other ESAB news, CEO Shyam Kambeyanda sold 59,120 shares of the company’s stock in a transaction that occurred 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 sale, the chief executive officer now owns 53,902 shares of the company’s stock, valued at $6,627,789.92. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Rhonda L. Jordan sold 4,254 shares of the stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $125.03, for a total value of $531,877.62. The disclosure for this sale can be found here. Insiders sold 68,418 shares of company stock valued at $8,431,773 over the last ninety days. Corporate insiders own 7.00% of the company’s stock.

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.