ESAB (NYSE:ESAB) Reaches New 1-Year High – Time to Buy?

Shares of ESAB Corporation (NYSE:ESAB) reached a new 52-week high during trading on Wednesday . The company traded as high as $136.40 and last traded at $133.9050, with a volume of 15753 shares. The stock had previously closed at $134.44.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Weiss Ratings raised ESAB from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, February 2nd. Wall Street Zen downgraded shares of ESAB from a “buy” rating to a “hold” rating in a research report on Sunday, December 28th. UBS Group raised their target price on shares of ESAB from $147.00 to $149.00 and gave the company a “buy” rating in a research note on Monday, October 20th. Oppenheimer upped their price target on shares of ESAB from $142.00 to $148.00 and gave the stock an “outperform” rating in a research report on Friday, January 23rd. Finally, JPMorgan Chase & Co. decreased their price target on shares of ESAB from $138.00 to $130.00 and set an “overweight” rating for the company in a research report on Tuesday, February 3rd. Seven analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $140.63.

ESAB Trading Up 0.8%

The firm has a market capitalization of $8.19 billion, a price-to-earnings ratio of 33.98, a PEG ratio of 2.49 and a beta of 1.24. The business’s 50-day moving average price is $118.45 and its 200 day moving average price is $116.30. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.99 and a quick ratio of 1.24.

ESAB Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 16th. Stockholders of record on Wednesday, December 31st were paid a dividend of $0.10 per share. The ex-dividend date was Wednesday, December 31st. This represents a $0.40 annualized dividend and a dividend yield of 0.3%. ESAB’s dividend payout ratio (DPR) is currently 10.08%.

Institutional Trading of ESAB

A number of hedge funds have recently made changes to their positions in ESAB. Bridgewater Associates LP raised its holdings in ESAB by 783.5% in the fourth quarter. Bridgewater Associates LP now owns 22,981 shares of the company’s stock valued at $2,567,000 after acquiring an additional 20,380 shares in the last quarter. UMB Bank n.a. increased its position 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. Stifel Financial Corp increased its position in shares of ESAB by 4.4% in the 4th quarter. Stifel Financial Corp now owns 6,396 shares of the company’s stock worth $715,000 after purchasing an additional 272 shares during the last quarter. Smartleaf Asset Management LLC raised 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. Finally, Schroder Investment Management Group bought a new position in shares of ESAB during the fourth quarter worth about $34,273,000. Institutional investors and hedge funds 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.