SG Americas Securities LLC Makes New Investment in ESAB Co. (NYSE:ESAB)

Jun 07, 2023

SG Americas Securities LLC bought a new stake in ESAB Co. (NYSE:ESAB - Free Report) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 17,962 shares of the company's stock, valued at approximately $1,061,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Ridgewood Investments LLC bought a new stake in shares of ESAB during the first quarter valued at approximately $58,000. Quantbot Technologies LP bought a new stake in ESAB during the 2nd quarter valued at $46,000. Advisor Group Holdings Inc. boosted its position in ESAB by 39.4% during the 4th quarter. Advisor Group Holdings Inc. now owns 1,448 shares of the company's stock worth $69,000 after acquiring an additional 409 shares during the period. UBS Group AG bought a new position in shares of ESAB in the second quarter worth $95,000. Finally, FNY Investment Advisers LLC acquired a new position in shares of ESAB during the first quarter valued at $153,000. Institutional investors and hedge funds own 92.14% of the company's stock.

In other news, Director Christopher M. Hix sold 7,500 shares of the stock in a transaction that occurred on Friday, June 9th. The shares were sold at an average price of $64.50, for a total value of $483,750.00. Following the completion of the sale, the director now directly owns 33,863 shares of the company's stock, valued at $2,184,163.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other ESAB news, Director Christopher M. Hix sold 7,500 shares of the company's stock in a transaction that occurred on Friday, June 9th. The shares were sold at an average price of $64.50, for a total value of $483,750.00. Following the transaction, the director now owns 33,863 shares in the company, valued at approximately $2,184,163.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Patrick W. Allender sold 1,964 shares of ESAB stock in a transaction on Friday, May 5th. The shares were sold at an average price of $60.35, for a total transaction of $118,527.40. Following the sale, the director now directly owns 2,168 shares of the company's stock, valued at approximately $130,838.80. The disclosure for this sale can be found here. Company insiders own 7.00% of the company's stock.

Shares of ESAB opened at $67.50 on Thursday. The company has a 50-day moving average of $64.30 and a two-hundred day moving average of $60.12. The stock has a market cap of $4.06 billion, a price-to-earnings ratio of 20.49, a PEG ratio of 3.58 and a beta of 1.39. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.68 and a quick ratio of 0.97. ESAB Co. has a one year low of $32.12 and a one year high of $70.64.

ESAB (NYSE:ESAB - Get Free Report) last posted its quarterly earnings data on Tuesday, May 2nd. The company reported $1.04 EPS for the quarter, topping analysts' consensus estimates of $0.93 by $0.11. The firm had revenue of $684.00 million during the quarter, compared to analyst estimates of $622.26 million. ESAB had a net margin of 7.61% and a return on equity of 18.50%. The company's revenue was up 5.6% on a year-over-year basis. During the same quarter last year, the business posted $1.17 EPS. On average, equities research analysts expect that ESAB Co. will post 4 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 14th. Shareholders of record on Friday, June 30th were given a dividend of $0.06 per share. The ex-dividend date of this dividend was Thursday, June 29th. This is a positive change from ESAB's previous quarterly dividend of $0.05. This represents a $0.24 dividend on an annualized basis and a yield of 0.36%. ESAB's dividend payout ratio (DPR) is presently 7.29%.

Several research firms have commented on ESAB. CL King initiated coverage on shares of ESAB in a research note on Tuesday, May 16th. They set a "buy" rating and a $76.00 target price on the stock. Stifel Nicolaus raised their target price on ESAB from $75.00 to $88.00 and gave the company a "buy" rating in a research note on Wednesday, July 19th. JPMorgan Chase & Co. cut shares of ESAB from an "overweight" rating to a "neutral" rating and boosted their price target for the stock from $70.00 to $74.00 in a research report on Tuesday, July 18th. Robert W. Baird reaffirmed an "outperform" rating and issued a $70.00 price objective on shares of ESAB in a research note on Friday, June 30th. Finally, Evercore ISI started coverage on shares of ESAB in a research note on Friday, July 14th. They set an "in-line" rating and a $75.00 target price for the company. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $74.33.

ESAB Corporation engages in the formulation, development, manufacture, and supply of consumable products and equipment for use in cutting, joining, and automated welding; and 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.

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