Securian Asset Management Inc. Sells 102 Shares of ESAB Co. (NYSE:ESAB)

Securian Asset Management Inc. lowered its stake in shares of ESAB Co. (NYSE:ESAB) by 2.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,295 shares of the company’s stock after selling 102 shares during the quarter. Securian Asset Management Inc.’s holdings in ESAB were worth $515,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of ESAB. EverSource Wealth Advisors LLC grew its holdings in ESAB by 70.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 218 shares of the company’s stock worth $26,000 after buying an additional 90 shares in the last quarter. ORG Wealth Partners LLC purchased a new position in ESAB in the fourth quarter worth $34,000. Trust Co. of Vermont boosted its position in ESAB by 871.0% in the fourth quarter. Trust Co. of Vermont now owns 301 shares of the company’s stock worth $36,000 after purchasing an additional 270 shares during the last quarter. SBI Securities Co. Ltd. purchased a new position in ESAB in the fourth quarter worth $36,000. Finally, Quest Partners LLC boosted its position in ESAB by 12,140.0% in the third quarter. Quest Partners LLC now owns 612 shares of the company’s stock worth $65,000 after purchasing an additional 607 shares during the last quarter. Institutional investors own 91.13% of the company’s stock.

Analyst Upgrades and Downgrades

ESAB has been the topic of several research analyst reports. Jefferies Financial Group initiated coverage on ESAB in a research report on Thursday, December 12th. They issued a “buy” rating and a $160.00 price objective on the stock. Evercore ISI raised ESAB from an “underperform” rating to an “inline” rating and cut their price objective for the stock from $122.00 to $120.00 in a research report on Monday, February 24th. Stifel Nicolaus cut their price objective on ESAB from $131.00 to $125.00 and set a “hold” rating on the stock in a research report on Friday, February 21st. Finally, JPMorgan Chase & Co. cut their price objective on ESAB from $135.00 to $133.00 and set an “overweight” rating on the stock in a research report on Friday, February 21st. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $133.14.

ESAB Stock Up 1.4 %

Shares of NYSE ESAB opened at $121.98 on Tuesday. ESAB Co. has a one year low of $88.54 and a one year high of $135.97. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.82 and a quick ratio of 1.25. The business’s fifty day moving average price is $122.43 and its 200-day moving average price is $118.28. The stock has a market capitalization of $7.38 billion, a PE ratio of 28.24, a P/E/G ratio of 2.01 and a beta of 1.36.

ESAB (NYSE:ESAB) last issued its quarterly earnings results on Thursday, February 20th. The company reported $1.28 EPS for the quarter, beating analysts’ consensus estimates of $1.15 by $0.13. ESAB had a return on equity of 17.43% and a net margin of 9.66%. The firm had revenue of $633.20 million for the quarter, compared to analysts’ expectations of $636.43 million. On average, equities research analysts anticipate that ESAB Co. will post 5.16 EPS for the current year.

ESAB Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 17th. Investors of record on Friday, April 4th will be issued a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, April 4th. This represents a $0.32 dividend on an annualized basis and a yield of 0.26%. ESAB’s dividend payout ratio (DPR) is 7.41%.

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.