Zions Bancorporation National Association UT Takes $1.20 Million Position in ESAB Corporation $ESAB

Zions Bancorporation National Association UT purchased a new position in shares of ESAB Corporation (NYSE:ESAB) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 10,709 shares of the company’s stock, valued at approximately $1,197,000.

Several other institutional investors have also modified their holdings of the company. Northwestern Mutual Wealth Management Co. lifted its holdings in ESAB by 109.4% in the 2nd 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 last quarter. AlphaQuest LLC purchased a new position in shares of ESAB during the third quarter valued at $58,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new position in ESAB during the 2nd quarter valued at about $59,000. Farther Finance Advisors LLC increased its stake in ESAB by 60.4% in the 3rd 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. increased its stake in shares of ESAB by 59.5% in the third quarter. Hantz Financial Services Inc. now owns 681 shares of the company’s stock worth $76,000 after acquiring an additional 254 shares during the last quarter. Institutional investors and hedge funds own 91.13% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on ESAB. Roth Mkm reiterated a “buy” rating and set a $146.00 price target (down from $150.00) on shares of ESAB in a report on Tuesday, February 3rd. JPMorgan Chase & Co. dropped their price objective on ESAB from $138.00 to $130.00 and set an “overweight” rating on the stock in a report on Tuesday, February 3rd. UBS Group lifted 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 boosted their target price 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, Stifel Nicolaus raised their price target on shares of ESAB from $143.00 to $144.00 and gave the company a “buy” rating in a report on Friday, January 23rd. Seven analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, ESAB presently has an average rating of “Moderate Buy” and an average price target of $140.63.

ESAB Stock Up 0.8%

Shares of ESAB stock opened at $134.92 on Tuesday. ESAB Corporation has a 12-month low of $100.17 and a 12-month high of $137.42. The company has a quick ratio of 1.24, a current ratio of 1.99 and a debt-to-equity ratio of 0.62. The stock has a 50 day moving average price of $119.47 and a two-hundred day moving average price of $116.12. The stock has a market capitalization of $8.19 billion, a P/E ratio of 33.98, a PEG ratio of 2.50 and a beta of 1.24.

ESAB Announces Dividend

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

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.