ING Groep NV Takes $1.99 Million Position in ESAB Corporation $ESAB

ING Groep NV purchased a new stake in shares of ESAB Corporation (NYSE:ESAB) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 17,800 shares of the company’s stock, valued at approximately $1,989,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Northwestern Mutual Wealth Management Co. raised its position in shares of ESAB by 109.4% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 333 shares of the company’s stock worth $40,000 after acquiring an additional 174 shares in the last quarter. AlphaQuest LLC purchased a new stake in ESAB in the third quarter worth $58,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new position in ESAB in the second quarter worth $59,000. Farther Finance Advisors LLC lifted its position in ESAB by 60.4% during the third quarter. Farther Finance Advisors LLC now owns 669 shares of the company’s stock valued at $75,000 after buying an additional 252 shares during the period. Finally, Hantz Financial Services Inc. boosted 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 buying an additional 254 shares in the last quarter. 91.13% of the stock is currently owned by hedge funds and other institutional investors.

ESAB Trading Up 0.8%

ESAB stock opened at $134.92 on Friday. ESAB Corporation has a one year low of $100.17 and a one year high of $137.42. The business’s fifty day moving average is $118.93 and its 200 day moving average is $116.32. The stock has a market capitalization of $8.19 billion, a PE ratio of 33.98, a price-to-earnings-growth ratio of 2.48 and a beta of 1.24. 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 company also recently disclosed a quarterly dividend, which was paid on Friday, January 16th. Investors of record on Wednesday, December 31st were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date was Wednesday, December 31st. ESAB’s dividend payout ratio is 10.08%.

Wall Street Analyst Weigh In

ESAB has been the topic of several research reports. Roth Mkm reissued a “buy” rating and set a $146.00 price objective (down previously from $150.00) on shares of ESAB in a research note on Tuesday, February 3rd. JPMorgan Chase & Co. lowered their target price on shares of ESAB from $138.00 to $130.00 and set an “overweight” rating for the company in a report on Tuesday, February 3rd. Wall Street Zen downgraded ESAB from a “buy” rating to a “hold” rating in a research note on Sunday, December 28th. UBS Group raised their price objective on ESAB from $147.00 to $149.00 and gave the company a “buy” rating in a research report on Monday, October 20th. Finally, Stifel Nicolaus boosted their target price on ESAB from $143.00 to $144.00 and gave the stock a “buy” rating in a report on Friday, January 23rd. Seven research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $140.63.

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.