Dorsey Wright & Associates Buys 98 Shares of ESAB Co. (NYSE:ESAB)

Dorsey Wright & Associates increased its stake in shares of ESAB Co. (NYSE:ESAB) by 0.2% during the fourth quarter, HoldingsChannel reports. The fund owned 45,098 shares of the company’s stock after buying an additional 98 shares during the period. ESAB comprises about 1.3% of Dorsey Wright & Associates’ investment portfolio, making the stock its 25th largest position. Dorsey Wright & Associates’ holdings in ESAB were worth $5,409,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. EverSource Wealth Advisors LLC lifted its holdings in shares of ESAB by 70.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 218 shares of the company’s stock valued at $26,000 after purchasing an additional 90 shares in the last quarter. ORG Wealth Partners LLC bought a new stake in ESAB in the 4th quarter valued at approximately $34,000. Trust Co. of Vermont boosted its position in ESAB by 871.0% during the 4th quarter. Trust Co. of Vermont now owns 301 shares of the company’s stock worth $36,000 after acquiring an additional 270 shares during the last quarter. SBI Securities Co. Ltd. bought a new position in shares of ESAB during the 4th quarter worth approximately $36,000. Finally, Quest Partners LLC raised its holdings in shares of 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. 91.13% of the stock is owned by institutional investors.

ESAB Stock Down 3.1 %

Shares of ESAB stock opened at $115.92 on Friday. ESAB Co. has a 52-week low of $88.54 and a 52-week high of $135.97. The stock has a market cap of $7.02 billion, a price-to-earnings ratio of 26.83, a PEG ratio of 2.01 and a beta of 1.36. The firm’s 50-day moving average is $122.69 and its 200-day moving average is $119.67. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.25 and a current ratio of 1.82.

ESAB (NYSE:ESAB) last released its quarterly earnings results on Thursday, February 20th. The company reported $1.28 earnings per share for the quarter, topping the consensus estimate of $1.15 by $0.13. ESAB had a return on equity of 17.43% and a net margin of 9.66%. The business had revenue of $633.20 million during the quarter, compared to analysts’ expectations of $636.43 million. Sell-side analysts predict that ESAB Co. will post 5.16 EPS for the current year.

ESAB Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 17th. Investors of record on Friday, April 4th will be paid a $0.08 dividend. The ex-dividend date of this dividend is Friday, April 4th. This represents a $0.32 annualized dividend and a dividend yield of 0.28%. ESAB’s dividend payout ratio (DPR) is presently 7.41%.

Analyst Ratings Changes

ESAB has been the subject of several recent research reports. Evercore ISI upgraded shares of ESAB from an “underperform” rating to an “inline” rating and reduced their target price for the stock from $122.00 to $120.00 in a report on Monday, February 24th. 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 objective for the company. JPMorgan Chase & Co. lifted their target price on ESAB from $133.00 to $140.00 and gave the company an “overweight” rating in a research report on Tuesday, March 18th. Finally, Stifel Nicolaus reduced their price target on ESAB from $131.00 to $125.00 and set a “hold” rating for the company in a research report on Friday, February 21st. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, ESAB presently has an average rating of “Moderate Buy” and an average target price of $134.14.

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.