Trexquant Investment LP Has $4.63 Million Stock Holdings in ESAB Co. (NYSE:ESAB)

Trexquant Investment LP grew its holdings in ESAB Co. (NYSE:ESAB) by 82.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 53,457 shares of the company’s stock after purchasing an additional 24,099 shares during the quarter. Trexquant Investment LP owned about 0.09% of ESAB worth $4,630,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Treasurer of the State of North Carolina lifted its stake in shares of ESAB by 0.5% in the 3rd quarter. Treasurer of the State of North Carolina now owns 24,776 shares of the company’s stock valued at $1,740,000 after purchasing an additional 130 shares during the period. Lawson Kroeker Investment Management Inc. NE lifted its stake in shares of ESAB by 1.0% in the 4th quarter. Lawson Kroeker Investment Management Inc. NE now owns 14,078 shares of the company’s stock valued at $1,219,000 after purchasing an additional 144 shares during the period. Quent Capital LLC lifted its stake in shares of ESAB by 10.1% in the 4th quarter. Quent Capital LLC now owns 1,585 shares of the company’s stock valued at $137,000 after purchasing an additional 146 shares during the period. Raleigh Capital Management Inc. raised its stake in ESAB by 23.4% during the 3rd quarter. Raleigh Capital Management Inc. now owns 811 shares of the company’s stock worth $57,000 after buying an additional 154 shares during the period. Finally, Arizona State Retirement System raised its stake in ESAB by 1.4% during the 3rd quarter. Arizona State Retirement System now owns 16,289 shares of the company’s stock worth $1,144,000 after buying an additional 227 shares during the period. 91.13% of the stock is owned by institutional investors and hedge funds.

Insider Activity at ESAB

In other ESAB news, Director Christopher M. Hix sold 7,465 shares of the firm’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $99.28, for a total value of $741,125.20. Following the completion of the sale, the director now directly owns 33,863 shares of the company’s stock, valued at $3,361,918.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other ESAB news, Director Rajiv Vinnakota sold 856 shares of the firm’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $99.50, for a total value of $85,172.00. Following the completion of the sale, the director now directly owns 6,779 shares of the company’s stock, valued at $674,510.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Christopher M. Hix sold 7,465 shares of the firm’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $99.28, for a total value of $741,125.20. Following the completion of the transaction, the director now directly owns 33,863 shares of the company’s stock, valued at $3,361,918.64. The disclosure for this sale can be found here. Over the last three months, insiders sold 10,833 shares of company stock valued at $1,074,985. 7.00% of the stock is owned by insiders.

ESAB Stock Performance

Shares of ESAB opened at $106.34 on Thursday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.01 and a current ratio of 1.65. The stock has a 50 day moving average price of $107.83 and a two-hundred day moving average price of $93.96. The firm has a market capitalization of $6.43 billion, a P/E ratio of 27.84, a P/E/G ratio of 1.91 and a beta of 1.55. ESAB Co. has a 52 week low of $57.53 and a 52 week high of $114.77.

ESAB (NYSE:ESAB) last released its earnings results on Wednesday, May 1st. The company reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.11 by $0.09. The company had revenue of $690.00 million during the quarter, compared to analyst estimates of $653.93 million. ESAB had a return on equity of 17.59% and a net margin of 8.39%. ESAB’s quarterly revenue was up .9% on a year-over-year basis. During the same period in the prior year, the company posted $1.04 earnings per share. Equities analysts forecast that ESAB Co. will post 4.93 earnings per share for the current fiscal year.

ESAB Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 12th. Investors of record on Friday, June 28th will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.30%. This is an increase from ESAB’s previous quarterly dividend of $0.06. The ex-dividend date is Friday, June 28th. ESAB’s dividend payout ratio (DPR) is presently 6.28%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on ESAB shares. JPMorgan Chase & Co. raised ESAB from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $111.00 to $125.00 in a research note on Monday, March 18th. Stifel Nicolaus upped their price target on ESAB from $106.00 to $114.00 and gave the stock a “buy” rating in a research note on Friday, March 1st. Finally, Evercore ISI upped their price target on ESAB from $93.00 to $100.00 and gave the stock an “in-line” rating in a research note on Tuesday, March 5th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price 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.