ESAB Co. (NYSE:ESAB) Shares Sold by King Luther Capital Management Corp

VaselineSeptember 21, 2024

0 4 minutes read

King Luther Capital Management Corp reduced its holdings in shares of ESAB Co. (NYSE:ESAB – Free Report) by 6.3% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 67,733 shares of the company’s stock after selling 4,534 shares during the quarter. King Luther Capital Management Corp’s holdings in ESAB were worth $6,396,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Quent Capital LLC boosted its holdings in ESAB by 8.4% in the first quarter. Quent Capital LLC now owns 1,718 shares of the company’s stock valued at $190,000 after buying an additional 133 shares in the last quarter. Burns Matteson Capital Management LLC boosted its holdings in shares of ESAB by 7.1% in the second quarter. Burns Matteson Capital Management LLC now owns 2,149 shares of the company’s stock valued at $203,000 after buying an additional 142 shares during the last quarter. Nomura Asset Management Co. Ltd. grew its position in shares of ESAB by 57.9% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 420 shares of the company’s stock valued at $36,000 after buying an additional 154 shares in the last quarter. Legacy Capital Group California Inc. raised its stake in ESAB by 8.5% during the 2nd quarter. Legacy Capital Group California Inc. now owns 2,139 shares of the company’s stock worth $202,000 after acquiring an additional 168 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC lifted its position in ESAB by 5.1% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 3,829 shares of the company’s stock valued at $362,000 after acquiring an additional 185 shares during the last quarter. Hedge funds and other institutional investors own 91.13% of the company’s shares.

Analyst upgrades and downgrades

Several equities analysts have issued reports on ESAB shares. JPMorgan Chase & Co. dropped their price objective on ESAB from $125.00 to $120.00 and set an “overweight” rating on the stock in a report on Monday, August 5th. Oppenheimer initiated coverage on ESAB in a research note on Thursday, June 20th. They set an “outperform” rating and a $115.00 price target on the stock. Bank of America boosted their price objective on ESAB from $115.00 to $130.00 and gave the company a “buy” rating in a research note on Monday, August 5th. Evercore ISI cut their price target on shares of ESAB from $107.00 to $102.00 and set an “in-line” rating on the stock in a research report on Monday, August 19th. Finally, Stifel Nicolaus cut their price target on shares of ESAB from $130.00 to $120.00 and set a “buy” rating for the company in a research report on Thursday, July 18th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock currently has a consensus rating of “Moderate Buy” and an average price target of $108.57, according to MarketBeat .

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ESAB stock falls 0.2%

Shares of ESAB opened at $105.67 on Friday. The stock has a 50-day moving average of $99.29 and a two-hundred-day moving average of $101.46. ESAB Co. has a 12-month low of $61.43 and a 12-month high of $114.77. The stock has a market cap of $6.39 billion, a price-to-earnings ratio of 27.66, a PEG ratio of 1.68 and a beta of 1.42. The company has a current ratio of 1.86, a quick ratio of 1.21, and a debt-to-equity ratio of 0.62.

ESAB (NYSE:ESAB – Get Free Report ) last posted its quarterly earnings results on Friday, August 2nd. The company reported $1.32 earnings per share for the quarter, topping the consensus estimate of $1.27 by $0.05. The firm had revenue of $707.10 million during the quarter, compared to the consensus estimate of $686.75 million. ESAB had a return on equity of 17.49% and a net margin of 9.06%. The company’s revenue for the quarter was down 1.8% year over year. During the same period last year, the company earned $1.21 per share. As a group, research analysts expect ESAB Co. to post 4.84 earnings per share for the current year.

ESAB dividend announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Friday, September 27th will be given a dividend of $0.08 per share. The ex-dividend date is Friday, September 27. This represents a dividend of $0.32 on an annualized basis and a dividend yield of 0.30%. ESAB’s dividend payout ratio (DPR) is 8.38%.

ESAB Company Profile

(Free Report)

ESAB Corporation is engaged in the formulation, development, manufacture and supply of consumable products and equipment for use in cutting, joining, automatic 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 including electrodes, nozzles, shields and tips.