ESAB Corporation $ESAB Shares Bought by SG Americas Securities LLC

SG Americas Securities LLC lifted its stake in shares of ESAB Corporation (NYSE:ESAB) by 50.3% in the 1st quarter, Holdings Channel reports. The institutional investor owned 20,881 shares of the company’s stock after acquiring an additional 6,988 shares during the quarter. SG Americas Securities LLC’s holdings in ESAB were worth $2,018,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of ESAB. Teacher Retirement System of Texas grew its holdings in shares of ESAB by 33.9% during the fourth quarter. Teacher Retirement System of Texas now owns 177,428 shares of the company’s stock worth $19,822,000 after purchasing an additional 44,877 shares during the last quarter. Confluence Investment Management LLC acquired a new position in ESAB during the fourth quarter worth approximately $998,000. Defender Capital LLC. purchased a new stake in ESAB in the fourth quarter valued at approximately $3,977,000. TimesSquare Capital Management LLC grew its position in shares of ESAB by 37.8% during the fourth quarter. TimesSquare Capital Management LLC now owns 959,101 shares of the company’s stock worth $107,151,000 after acquiring an additional 262,850 shares during the last quarter. Finally, Bessemer Group Inc. increased its holdings in shares of ESAB by 6,787.0% in the 4th quarter. Bessemer Group Inc. now owns 1,053,776 shares of the company’s stock valued at $117,730,000 after acquiring an additional 1,038,475 shares during the period. Institutional investors and hedge funds own 91.13% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on ESAB shares. Roth Mkm set a $142.00 price objective on shares of ESAB in a research report on Thursday, April 16th. Stifel Nicolaus set a $141.00 target price on shares of ESAB in a research note on Friday, May 8th. Oppenheimer reissued an “outperform” rating and set a $140.00 price target on shares of ESAB in a report on Tuesday, April 14th. Weiss Ratings cut ESAB from a “hold (c+)” rating to a “hold (c)” rating in a research report on Monday, April 27th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a $130.00 price objective (down from $150.00) on shares of ESAB in a research note on Tuesday, March 31st. Eight research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, ESAB currently has an average rating of “Moderate Buy” and an average target price of $138.38.

ESAB Stock Down 4.9%

Shares of NYSE:ESAB opened at $93.75 on Thursday. ESAB Corporation has a fifty-two week low of $82.18 and a fifty-two week high of $137.42. The company has a quick ratio of 2.26, a current ratio of 2.97 and a debt-to-equity ratio of 0.91. The firm’s 50-day simple moving average is $95.44 and its 200-day simple moving average is $107.22. The company has a market cap of $5.71 billion, a price-to-earnings ratio of 27.74, a PEG ratio of 1.81 and a beta of 1.17.

ESAB (NYSE:ESAB) last posted its quarterly earnings results on Thursday, May 7th. The company reported $1.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.32 by ($0.01). ESAB had a return on equity of 15.04% and a net margin of 7.11%.The firm had revenue of $745.60 million for the quarter, compared to analysts’ expectations of $706.74 million. During the same period in the prior year, the company earned $1.25 earnings per share. The company’s revenue for the quarter was up 10.0% on a year-over-year basis. As a group, equities research analysts predict that ESAB Corporation will post 5.82 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 17th. Stockholders of record on Friday, July 3rd will be issued a $0.12 dividend. The ex-dividend date of this dividend is Thursday, July 2nd. This represents a $0.48 annualized dividend and a dividend yield of 0.5%. This is an increase from ESAB’s previous quarterly dividend of $0.10. ESAB’s payout ratio is 11.83%.

About ESAB

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.