Price T Rowe Associates Inc. MD Has $710.32 Million Holdings in ESAB Co. (NYSE:ESAB)

Price T Rowe Associates Inc. MD boosted its stake in shares of ESAB Co. (NYSE:ESAB) by 11.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,424,115 shares of the company’s stock after buying an additional 653,377 shares during the period. Price T Rowe Associates Inc. MD owned about 0.11% of ESAB worth $710,316,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of ESAB. Quadrature Capital Ltd acquired a new position in shares of ESAB in the 1st quarter valued at about $378,000. Burns Matteson Capital Management LLC acquired a new position in shares of ESAB in the 1st quarter valued at about $222,000. Bessemer Group Inc. increased its holdings in shares of ESAB by 5,764.3% in the 1st quarter. Bessemer Group Inc. now owns 4,105 shares of the company’s stock valued at $454,000 after purchasing an additional 4,035 shares during the period. Champlain Investment Partners LLC acquired a new position in shares of ESAB in the 1st quarter valued at about $33,811,000. Finally, Acadian Asset Management LLC increased its holdings in shares of ESAB by 2,277.5% in the 1st quarter. Acadian Asset Management LLC now owns 93,770 shares of the company’s stock valued at $10,359,000 after purchasing an additional 89,826 shares during the period. Institutional investors and hedge funds own 91.13% of the company’s stock.

ESAB Stock Performance

ESAB stock traded up $0.55 during trading hours on Friday, reaching $99.97. 279,737 shares of the company were exchanged, compared to its average volume of 239,155. The firm has a market cap of $6.04 billion, a price-to-earnings ratio of 26.17, a PEG ratio of 1.74 and a beta of 1.43. The company has a current ratio of 1.65, a quick ratio of 1.01 and a debt-to-equity ratio of 0.59. The stock has a 50-day moving average of $97.56 and a 200 day moving average of $98.85. ESAB Co. has a 12 month low of $61.43 and a 12 month high of $114.77.

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

ESAB Increases Dividend

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

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Stifel Nicolaus dropped their target price on ESAB from $130.00 to $120.00 and set a “buy” rating on the stock in a report on Thursday, July 18th. Oppenheimer started coverage on ESAB in a report on Thursday, June 20th. They issued an “outperform” rating and a $115.00 price objective on the stock. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $99.38.

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.