Royce & Associates LP Increases Stock Holdings in ESAB Corporation $ESAB

Royce & Associates LP raised its stake in shares of ESAB Corporation (NYSE:ESAB) by 14.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 898,009 shares of the company’s stock after acquiring an additional 112,503 shares during the quarter. ESAB makes up about 1.0% of Royce & Associates LP’s portfolio, making the stock its 4th biggest position. Royce & Associates LP owned approximately 1.48% of ESAB worth $100,326,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of ESAB. FNY Investment Advisers LLC purchased a new stake in shares of ESAB during the 3rd quarter valued at $30,000. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of ESAB by 109.4% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 333 shares of the company’s stock valued at $40,000 after purchasing an additional 174 shares during the last quarter. Global Retirement Partners LLC lifted its holdings in shares of ESAB by 3,023.1% during the 4th quarter. Global Retirement Partners LLC now owns 406 shares of the company’s stock valued at $45,000 after purchasing an additional 393 shares during the last quarter. AlphaQuest LLC purchased a new stake in shares of ESAB during the 3rd quarter valued at $58,000. Finally, Hantz Financial Services Inc. lifted its holdings in shares of ESAB by 59.5% during the 3rd quarter. Hantz Financial Services Inc. now owns 681 shares of the company’s stock valued at $76,000 after purchasing an additional 254 shares during the last quarter. Institutional investors own 91.13% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on the company. Oppenheimer reiterated an “outperform” rating and set a $140.00 price objective on shares of ESAB in a report on Tuesday, April 14th. JPMorgan Chase & Co. decreased their price objective on ESAB from $148.00 to $135.00 and set an “overweight” rating for the company in a report on Friday, April 10th. Weiss Ratings lowered ESAB from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, April 27th. Wall Street Zen lowered ESAB from a “buy” rating to a “hold” rating in a report on Saturday, March 21st. Finally, Jefferies Financial Group reiterated a “buy” rating and set a $130.00 price objective (down from $150.00) on shares of ESAB in a report on Tuesday, March 31st. Eight equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, ESAB presently has a consensus rating of “Moderate Buy” and an average price target of $139.88.

ESAB Stock Performance

Shares of ESAB stock opened at $91.81 on Tuesday. The firm has a market capitalization of $5.59 billion, a price-to-earnings ratio of 27.16, a price-to-earnings-growth ratio of 1.68 and a beta of 1.24. The company has a debt-to-equity ratio of 0.91, a current ratio of 2.97 and a quick ratio of 2.26. The business has a fifty day moving average of $97.57 and a 200 day moving average of $110.28. ESAB Corporation has a 1 year low of $83.17 and a 1 year high of $137.42.

ESAB (NYSE:ESAB) last issued its earnings results on Thursday, May 7th. The company reported $1.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.01). The firm had revenue of $745.60 million during the quarter, compared to analysts’ expectations of $706.74 million. ESAB had a return on equity of 15.04% and a net margin of 7.11%.The business’s revenue was up 10.0% on a year-over-year basis. During the same quarter last year, the business earned $1.25 EPS. As a group, research analysts expect that ESAB Corporation will post 5.81 earnings per share for the current year.

ESAB Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 17th. Investors of record on Friday, July 3rd will be paid a $0.12 dividend. This is a positive change from ESAB’s previous quarterly dividend of $0.10. The ex-dividend date is Thursday, July 2nd. This represents a $0.48 dividend on an annualized basis and a yield of 0.5%. ESAB’s dividend payout ratio (DPR) is 11.83%.

ESAB 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.