Sei Investments Co. Acquires 7,737 Shares of ESAB Corporation $ESAB

Sei Investments Co. grew its stake in ESAB Corporation (NYSE:ESAB) by 8.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 98,000 shares of the company’s stock after purchasing an additional 7,737 shares during the period. Sei Investments Co. owned approximately 0.16% of ESAB worth $9,473,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Los Angeles Capital Management LLC bought a new stake in ESAB in the fourth quarter valued at $33,000. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of ESAB by 109.4% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 333 shares of the company’s stock valued at $40,000 after acquiring an additional 174 shares during the period. Smartleaf Asset Management LLC boosted its stake in shares of ESAB by 259.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 381 shares of the company’s stock valued at $43,000 after purchasing an additional 275 shares in the last quarter. Global Retirement Partners LLC grew its holdings in shares of ESAB by 3,023.1% in the 4th quarter. Global Retirement Partners LLC now owns 406 shares of the company’s stock worth $45,000 after purchasing an additional 393 shares during the last quarter. Finally, UMB Bank n.a. grew its holdings in shares of ESAB by 185.3% in the 4th quarter. UMB Bank n.a. now owns 642 shares of the company’s stock worth $72,000 after purchasing an additional 417 shares during the last quarter. Institutional investors own 91.13% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on ESAB shares. Stifel Nicolaus reduced their price target on shares of ESAB from $141.00 to $137.00 and set a “buy” rating on the stock in a research report on Monday, July 20th. DA Davidson began coverage on shares of ESAB in a report on Monday, June 15th. They set a “buy” rating and a $130.00 price objective for the company. Weiss Ratings reiterated a “hold (c)” rating on shares of ESAB in a research note on Friday, July 24th. Oppenheimer reduced their target price on ESAB from $140.00 to $135.00 and set an “outperform” rating on the stock in a report on Tuesday, July 21st. Finally, Roth Capital increased their price target on ESAB from $142.00 to $151.00 and gave the stock a “buy” rating in a research report on Tuesday, July 7th. Eight investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, ESAB presently has a consensus rating of “Moderate Buy” and an average price target of $138.38.

ESAB Price Performance

Shares of ESAB stock opened at $86.67 on Friday. ESAB Corporation has a 1 year low of $82.18 and a 1 year high of $137.42. The company has a current ratio of 2.97, a quick ratio of 2.26 and a debt-to-equity ratio of 0.91. The firm’s 50 day moving average is $91.83 and its 200-day moving average is $103.23. The firm has a market capitalization of $5.28 billion, a price-to-earnings ratio of 25.64, a PEG ratio of 1.61 and a beta of 1.17.

ESAB (NYSE:ESAB) last posted its quarterly earnings data on Thursday, May 7th. The company reported $1.31 earnings per share 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 company had revenue of $745.60 million during the quarter, compared to the consensus estimate of $706.74 million. During the same quarter last year, the firm earned $1.25 EPS. The business’s revenue for the quarter was up 10.0% on a year-over-year basis. Sell-side analysts forecast that ESAB Corporation will post 5.72 EPS for the current fiscal year.

ESAB Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 17th. Stockholders of record on Friday, July 3rd were given a dividend of $0.12 per share. The ex-dividend date was Thursday, July 2nd. This is an increase from ESAB’s previous quarterly dividend of $0.10. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.6%. ESAB’s dividend payout ratio is presently 14.20%.

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.