SeaBridge Investment Advisors LLC Has $1.08 Million Stock Holdings in ESAB Co. (NYSE:ESAB)

SeaBridge Investment Advisors LLC decreased its holdings in ESAB Co. (NYSE:ESAB) by 5.1% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 9,024 shares of the company’s stock after selling 480 shares during the period. SeaBridge Investment Advisors LLC’s holdings in ESAB were worth $1,082,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. ORG Wealth Partners LLC acquired a new position in shares of ESAB in the 4th quarter valued at $34,000. Trust Co. of Vermont lifted its position in shares of 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 in the last quarter. GAMMA Investing LLC boosted its stake in shares of ESAB by 55.9% during the 3rd quarter. GAMMA Investing LLC now owns 410 shares of the company’s stock worth $44,000 after buying an additional 147 shares during the last quarter. Blue Trust Inc. grew its stake in ESAB by 629.8% in the third quarter. Blue Trust Inc. now owns 613 shares of the company’s stock valued at $65,000 after purchasing an additional 529 shares in the last quarter. Finally, Quest Partners LLC grew its stake 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 buying an additional 607 shares in the last quarter. Institutional investors and hedge funds own 91.13% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Stifel Nicolaus upped their price objective on ESAB from $130.00 to $131.00 and gave the company a “hold” rating in a research note on Friday, January 24th. Loop Capital boosted their price objective on shares of ESAB from $105.00 to $120.00 and gave the company a “hold” rating in a report on Wednesday, October 30th. 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 target on the stock. Evercore ISI cut ESAB from an “in-line” rating to an “underperform” rating and upped their target price for the stock from $102.00 to $122.00 in a research note on Wednesday, November 13th. Finally, Oppenheimer reissued an “outperform” rating and set a $144.00 price objective (up previously from $138.00) on shares of ESAB in a report on Friday, November 8th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $133.57.

ESAB Price Performance

Shares of ESAB opened at $124.12 on Friday. The company has a quick ratio of 1.25, a current ratio of 1.92 and a debt-to-equity ratio of 0.58. ESAB Co. has a twelve month low of $85.79 and a twelve month high of $135.97. The company has a market capitalization of $7.50 billion, a P/E ratio of 29.07, a price-to-earnings-growth ratio of 1.96 and a beta of 1.37. The firm has a 50 day moving average of $123.99 and a 200 day moving average of $112.98.

ESAB (NYSE:ESAB) last released its quarterly earnings results on Tuesday, October 29th. The company reported $1.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.12 by $0.13. ESAB had a return on equity of 17.27% and a net margin of 9.47%. The business had revenue of $673.00 million during the quarter, compared to the consensus estimate of $620.50 million. During the same period in the previous year, the company posted $1.08 EPS. The business’s quarterly revenue was down 1.2% compared to the same quarter last year. As a group, equities research analysts anticipate that ESAB Co. will post 4.93 earnings per share for the current fiscal year.

ESAB Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, January 17th. Investors of record on Tuesday, December 31st were issued a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.26%. The ex-dividend date was Tuesday, December 31st. ESAB’s dividend payout ratio is currently 7.49%.

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.