Mutual of America Capital Management LLC Sells 1,810 Shares of ESAB Co. (NYSE:ESAB)

Mutual of America Capital Management LLC cut its holdings in shares of ESAB Co. (NYSE:ESAB) by 4.9% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 34,935 shares of the company’s stock after selling 1,810 shares during the quarter. Mutual of America Capital Management LLC owned 0.06% of ESAB worth $3,026,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in ESAB. JPMorgan Chase & Co. purchased a new position in shares of ESAB during the second quarter worth approximately $2,920,000. UBS Group AG purchased a new position in shares of ESAB during the second quarter worth approximately $95,000. Credit Suisse AG purchased a new position in shares of ESAB during the second quarter worth approximately $1,942,000. Northern Trust Corp purchased a new position in shares of ESAB during the second quarter worth approximately $16,005,000. Finally, Renaissance Technologies LLC purchased a new position in shares of ESAB in the second quarter worth $683,000. 91.13% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently commented on ESAB. Stifel Nicolaus lifted their target price on shares of ESAB from $106.00 to $114.00 and gave the stock a “buy” rating in a research note on Friday, March 1st. Evercore ISI lifted their target price on shares of ESAB from $93.00 to $100.00 and gave the stock an “in-line” rating in a research note on Tuesday, March 5th. Finally, JPMorgan Chase & Co. raised shares of ESAB from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $111.00 to $125.00 in a research note on Monday, March 18th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, ESAB currently has an average rating of “Moderate Buy” and an average target price of $93.75.

Insider Activity

In other news, Director Didier P. Teirlinck sold 2,512 shares of the business’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $99.00, for a total transaction of $248,688.00. Following the sale, the director now owns 33,863 shares in the company, valued at approximately $3,352,437. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, Director Didier P. Teirlinck sold 2,512 shares of the company’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $99.00, for a total value of $248,688.00. Following the transaction, the director now owns 33,863 shares in the company, valued at approximately $3,352,437. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Rajiv Vinnakota sold 856 shares of the company’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $99.50, for a total transaction of $85,172.00. Following the completion of the transaction, the director now owns 6,779 shares in the company, valued at approximately $674,510.50. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 10,833 shares of company stock worth $1,074,985. Corporate insiders own 7.00% of the company’s stock.

ESAB Stock Down 0.6 %

Shares of ESAB stock opened at $105.79 on Friday. The company has a current ratio of 1.61, a quick ratio of 0.98 and a debt-to-equity ratio of 0.62. The company’s fifty day simple moving average is $102.30 and its two-hundred day simple moving average is $87.13. The company has a market cap of $6.39 billion, a P/E ratio of 31.49, a PEG ratio of 2.19 and a beta of 1.54. ESAB Co. has a 12-month low of $55.37 and a 12-month high of $114.77.

ESAB (NYSE:ESAB) last issued its quarterly earnings data on Thursday, February 29th. The company reported $1.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.05 by $0.08. ESAB had a net margin of 7.40% and a return on equity of 17.57%. The business had revenue of $689.40 million for the quarter, compared to the consensus estimate of $644.51 million. During the same period in the previous year, the firm earned $1.05 EPS. The company’s quarterly revenue was up 3.8% compared to the same quarter last year. Research analysts anticipate that ESAB Co. will post 4.82 EPS for the current year.

ESAB Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Friday, March 29th were issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.23%. The ex-dividend date was Wednesday, March 27th. ESAB’s dividend payout ratio (DPR) is presently 7.14%.

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.