ESAB Corporation (NYSE:ESAB) Short Interest Update

ESAB Corporation (NYSE:ESAB) was the recipient of a large increase in short interest in the month of February. As of February 13th, there was short interest totaling 1,590,522 shares, an increase of 22.1% from the January 29th total of 1,302,948 shares. Approximately 2.8% of the shares of the company are sold short. Based on an average daily volume of 780,254 shares, the short-interest ratio is presently 2.0 days. Based on an average daily volume of 780,254 shares, the short-interest ratio is presently 2.0 days. Approximately 2.8% of the shares of the company are sold short.

Wall Street Analyst Weigh In

ESAB has been the subject of several analyst reports. Weiss Ratings downgraded ESAB from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, February 20th. Stifel Nicolaus increased their price target on ESAB from $144.00 to $158.00 and gave the stock a “buy” rating in a report on Monday, February 23rd. Oppenheimer lifted their price objective on shares of ESAB from $142.00 to $148.00 and gave the company an “outperform” rating in a research report on Friday, January 23rd. Roth Mkm restated a “buy” rating and set a $146.00 price objective (down from $150.00) on shares of ESAB in a research report on Tuesday, February 3rd. Finally, Wall Street Zen downgraded shares of ESAB from a “buy” rating to a “hold” rating in a report on Sunday, December 28th. Six research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $145.25.

Insider Transactions at ESAB

In other ESAB news, CEO Shyam Kambeyanda sold 59,404 shares of the firm’s stock in a transaction on Monday, February 23rd. The shares were sold at an average price of $123.79, for a total transaction of $7,353,621.16. Following the transaction, the chief executive officer directly owned 99,864 shares of the company’s stock, valued at approximately $12,362,164.56. This trade represents a 37.30% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 7.30% of the company’s stock.

Hedge Funds Weigh In On ESAB

Several hedge funds have recently bought and sold shares of the stock. T. Rowe Price Investment Management Inc. boosted its stake in shares of ESAB by 0.6% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 8,006,238 shares of the company’s stock worth $894,457,000 after purchasing an additional 45,841 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of ESAB by 11.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,852,692 shares of the company’s stock worth $653,864,000 after purchasing an additional 613,327 shares during the period. Invesco Ltd. boosted its holdings in shares of ESAB by 1.6% during the second quarter. Invesco Ltd. now owns 2,123,958 shares of the company’s stock worth $256,043,000 after purchasing an additional 33,015 shares during the last quarter. Champlain Investment Partners LLC grew its position in shares of ESAB by 5.9% in the second quarter. Champlain Investment Partners LLC now owns 2,043,843 shares of the company’s stock valued at $246,385,000 after purchasing an additional 114,744 shares during the period. Finally, Durable Capital Partners LP increased its stake in ESAB by 40.5% in the third quarter. Durable Capital Partners LP now owns 1,945,854 shares of the company’s stock valued at $217,430,000 after purchasing an additional 560,678 shares during the last quarter. Hedge funds and other institutional investors own 91.13% of the company’s stock.

ESAB Price Performance

ESAB stock traded down $3.52 during mid-day trading on Thursday, reaching $114.19. The company had a trading volume of 91,916 shares, compared to its average volume of 443,175. The stock’s 50-day simple moving average is $122.20 and its 200-day simple moving average is $116.82. ESAB has a 1 year low of $100.17 and a 1 year high of $137.42. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.90 and a quick ratio of 1.17. The company has a market capitalization of $6.93 billion, a P/E ratio of 30.86, a P/E/G ratio of 2.15 and a beta of 1.23.

ESAB (NYSE:ESAB) last posted its earnings results on Friday, February 20th. The company reported $1.35 earnings per share for the quarter, beating the consensus estimate of $1.34 by $0.01. ESAB had a return on equity of 15.38% and a net margin of 7.98%.The company had revenue of $720.99 million for the quarter, compared to analyst estimates of $687.80 million. During the same quarter in the prior year, the company earned $1.28 earnings per share. ESAB’s revenue was up 7.5% compared to the same quarter last year. On average, equities analysts predict that ESAB will post 5.16 EPS for the current year.

ESAB Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 17th. Investors of record on Thursday, April 2nd will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.4%. The ex-dividend date is Thursday, April 2nd. ESAB’s payout ratio is currently 10.81%.

ESAB Company Profile

ESAB Corporation is a global leader in welding, cutting and gas control technologies, offering a comprehensive portfolio of equipment, consumables and automation solutions. The company’s products include welding power sources, cutting machines, torches, electrodes, filler metals and gas regulating equipment designed to meet the needs of diverse industries. ESAB serves sectors such as construction, shipbuilding, automotive, energy, infrastructure and manufacturing, providing both standard and customized solutions to enhance productivity and quality in metal fabrication and processing.

Founded in 1904 by Swedish inventor Oscar Kjellberg, ESAB pioneered the development of coated welding electrodes, laying the groundwork for modern welding practices.