Oak Family Advisors LLC Sells 14,094 Shares of ESAB Co. (NYSE:ESAB)

Oak Family Advisors LLC trimmed its position in ESAB Co. (NYSE:ESAB) by 34.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,211 shares of the company’s stock after selling 14,094 shares during the period. ESAB makes up approximately 1.2% of Oak Family Advisors LLC’s portfolio, making the stock its 27th biggest position. Oak Family Advisors LLC’s holdings in ESAB were worth $3,264,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ESAB. Defender Capital LLC. boosted its stake in ESAB by 3.2% during the 4th quarter. Defender Capital LLC. now owns 24,608 shares of the company’s stock valued at $2,951,000 after purchasing an additional 759 shares during the last quarter. Stonegate Investment Group LLC acquired a new position in ESAB during the 4th quarter valued at about $216,000. Hunter Perkins Capital Management LLC boosted its stake in ESAB by 4.0% during the 4th quarter. Hunter Perkins Capital Management LLC now owns 11,665 shares of the company’s stock valued at $1,399,000 after purchasing an additional 445 shares during the last quarter. KBC Group NV boosted its stake in ESAB by 70.1% during the 4th quarter. KBC Group NV now owns 2,604 shares of the company’s stock valued at $312,000 after purchasing an additional 1,073 shares during the last quarter. Finally, Blue Trust Inc. boosted its stake in ESAB by 47.3% during the 4th quarter. Blue Trust Inc. now owns 903 shares of the company’s stock valued at $108,000 after purchasing an additional 290 shares during the last quarter. 91.13% of the stock is owned by institutional investors.

ESAB Price Performance

ESAB stock opened at $124.12 on Monday. ESAB Co. has a 12 month low of $85.79 and a 12 month high of $135.97. The company has a current ratio of 1.92, a quick ratio of 1.25 and a debt-to-equity ratio of 0.58. The business’s 50 day simple moving average is $123.99 and its 200 day simple moving average is $113.14. The company has a market cap of $7.50 billion, a price-to-earnings ratio of 29.07, a PEG ratio of 1.99 and a beta of 1.36.

ESAB Announces Dividend

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

Analyst Ratings Changes

A number of research firms have issued reports on ESAB. Evercore ISI downgraded ESAB from an “in-line” rating to an “underperform” rating and lifted their price target for the company from $102.00 to $122.00 in a research note on Wednesday, November 13th. Loop Capital lifted their price target on ESAB from $105.00 to $120.00 and gave the company a “hold” rating in a research note on Wednesday, October 30th. Stifel Nicolaus boosted their target price on ESAB from $130.00 to $131.00 and gave the stock a “hold” rating in a research note on Friday, January 24th. Oppenheimer restated an “outperform” rating and issued a $144.00 target price (up previously from $138.00) on shares of ESAB in a research note on Friday, November 8th. Finally, Jefferies Financial Group began coverage on ESAB in a research note on Thursday, December 12th. They issued a “buy” rating and a $160.00 target price on the stock. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $133.57.

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.