Coldstream Capital Management Inc. Makes New $220,000 Investment in ESAB Co. (NYSE:ESAB)

Coldstream Capital Management Inc. bought a new position in shares of ESAB Co. (NYSE:ESAB) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 2,537 shares of the company’s stock, valued at approximately $220,000.

Several other hedge funds have also recently bought and sold shares of ESAB. FMR LLC increased its position in ESAB by 24.3% during the third quarter. FMR LLC now owns 2,892,015 shares of the company’s stock worth $203,077,000 after buying an additional 566,224 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in ESAB by 6,624.8% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 379,078 shares of the company’s stock worth $32,836,000 after buying an additional 373,441 shares during the last quarter. Invesco Ltd. increased its position in ESAB by 25.1% during the third quarter. Invesco Ltd. now owns 1,376,699 shares of the company’s stock worth $96,672,000 after buying an additional 276,558 shares during the last quarter. International Assets Investment Management LLC acquired a new stake in shares of ESAB in the fourth quarter valued at about $11,502,000. Finally, Charles Schwab Investment Management Inc. grew its position in shares of ESAB by 15.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 489,939 shares of the company’s stock valued at $34,404,000 after purchasing an additional 64,715 shares during the last quarter. 91.13% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other ESAB news, Director Didier P. Teirlinck sold 2,512 shares of the firm’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $99.00, for a total transaction of $248,688.00. Following the completion of the transaction, the director now owns 33,863 shares in the company, valued at $3,352,437. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, Director Didier P. Teirlinck sold 2,512 shares of ESAB stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $99.00, for a total value of $248,688.00. Following the completion of the transaction, the director now owns 33,863 shares in the company, valued at $3,352,437. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Rajiv Vinnakota sold 856 shares of ESAB stock in a transaction that occurred on Wednesday, March 6th. The shares were 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 of the company’s stock, valued at approximately $674,510.50. The disclosure for this sale can be found here. Insiders sold a total of 10,833 shares of company stock worth $1,074,985 over the last quarter. Company insiders own 7.00% of the company’s stock.

ESAB Stock Up 0.6 %

ESAB stock opened at $103.69 on Monday. ESAB Co. has a twelve month low of $57.53 and a twelve month high of $114.77. The company has a market cap of $6.27 billion, a PE ratio of 27.14, a price-to-earnings-growth ratio of 1.84 and a beta of 1.55. The business’s 50-day simple moving average is $108.00 and its 200 day simple moving average is $94.35. The company has a quick ratio of 1.01, a current ratio of 1.65 and a debt-to-equity ratio of 0.59.

ESAB (NYSE:ESAB) last released its earnings results on Wednesday, May 1st. The company reported $1.20 earnings per share for the quarter, topping analysts’ consensus estimates of $1.11 by $0.09. The business had revenue of $690.00 million for the quarter, compared to the consensus estimate of $653.93 million. ESAB had a return on equity of 17.59% and a net margin of 8.39%. The firm’s revenue for the quarter was up .9% compared to the same quarter last year. During the same period last year, the business earned $1.04 earnings per share. On average, research analysts anticipate that ESAB Co. will post 4.93 earnings per share for the current year.

ESAB Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 12th. Shareholders of record on Friday, June 28th will be paid a dividend of $0.08 per share. This is a boost from ESAB’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend is Friday, June 28th. This represents a $0.32 dividend on an annualized basis and a yield of 0.31%. ESAB’s dividend payout ratio (DPR) is currently 8.38%.

Wall Street Analyst Weigh In

ESAB has been the topic of several research analyst reports. Evercore ISI raised their price target on ESAB from $93.00 to $100.00 and gave the company an “in-line” rating in a research report on Tuesday, March 5th. Stifel Nicolaus raised their price target on ESAB from $106.00 to $114.00 and gave the company a “buy” rating in a research report on Friday, March 1st. Finally, JPMorgan Chase & Co. raised ESAB from a “neutral” rating to an “overweight” rating and raised their price target for the company from $111.00 to $125.00 in a research report on Monday, March 18th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $96.29.

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.