ESAB (NYSE:ESAB) Hits New 12-Month Low – Here’s Why

ESAB Corporation (NYSE:ESAB) shares reached a new 52-week low during trading on Friday . The company traded as low as $100.07 and last traded at $100.4240, with a volume of 166429 shares trading hands. The stock had previously closed at $103.60.

Wall Street Analysts Forecast Growth

ESAB has been the topic of several recent research reports. Wall Street Zen raised ESAB from a “hold” rating to a “buy” rating in a research note on Saturday, March 7th. Oppenheimer raised their price objective on 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 target price (down from $150.00) on shares of ESAB in a report on Tuesday, February 3rd. Weiss Ratings downgraded shares of ESAB from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, February 20th. Finally, JPMorgan Chase & Co. increased their price target on shares of ESAB from $130.00 to $153.00 and gave the stock an “overweight” rating in a research note on Monday, February 23rd. Six investment 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 a consensus rating of “Moderate Buy” and an average target price of $145.25.

ESAB Trading Down 5.5%

The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.17 and a current ratio of 1.90. The company has a market cap of $5.94 billion, a P/E ratio of 26.46, a price-to-earnings-growth ratio of 1.81 and a beta of 1.23. The stock has a 50-day moving average of $121.31 and a two-hundred day moving average of $116.46.

ESAB (NYSE:ESAB) last released its earnings results on Friday, February 20th. The company reported $1.36 EPS for the quarter, topping the consensus estimate of $1.34 by $0.02. ESAB had a return on equity of 15.38% and a net margin of 7.98%.The business had revenue of $687.00 million for the quarter, compared to the consensus estimate of $687.80 million. During the same period in the previous year, the company posted $1.28 earnings per share. The company’s revenue for the quarter was up 7.5% compared to the same quarter last year. On average, equities research analysts predict that ESAB Corporation will post 5.16 earnings per share for the current year.

ESAB Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, April 17th. Investors of record on Thursday, April 2nd will be paid a $0.10 dividend. The ex-dividend date is Thursday, April 2nd. This represents a $0.40 dividend on an annualized basis and a yield of 0.4%. ESAB’s payout ratio is presently 10.81%.

Insider Buying and Selling

In related news, CEO Shyam Kambeyanda sold 59,404 shares of the stock in a transaction dated 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 sale, the chief executive officer directly owned 99,864 shares of the company’s stock, valued at approximately $12,362,164.56. This represents a 37.30% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 7.30% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Thrivent Financial for Lutherans increased its position in shares of ESAB by 0.7% during the second quarter. Thrivent Financial for Lutherans now owns 13,417 shares of the company’s stock valued at $1,617,000 after acquiring an additional 95 shares in the last quarter. Xponance Inc. raised its holdings in ESAB by 1.6% in the 3rd quarter. Xponance Inc. now owns 6,488 shares of the company’s stock worth $725,000 after acquiring an additional 102 shares during the last quarter. ProShare Advisors LLC lifted its position in ESAB by 4.4% in the 2nd quarter. ProShare Advisors LLC now owns 2,527 shares of the company’s stock valued at $305,000 after acquiring an additional 106 shares in the last quarter. Public Employees Retirement System of Ohio boosted its stake in ESAB by 0.5% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 19,605 shares of the company’s stock valued at $2,191,000 after purchasing an additional 107 shares during the last quarter. Finally, Coldstream Capital Management Inc. boosted its stake in ESAB by 5.9% during the 3rd quarter. Coldstream Capital Management Inc. now owns 2,689 shares of the company’s stock valued at $300,000 after purchasing an additional 149 shares during the last quarter. Institutional investors own 91.13% of the company’s stock.

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.