ESAB Corporation $ESAB Stock Holdings Lifted by Royce & Associates LP

Royce & Associates LP lifted its stake in ESAB Corporation (NYSE:ESAB) by 4.1% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 901,466 shares of the company’s stock after acquiring an additional 35,640 shares during the quarter. ESAB comprises approximately 0.5% of Royce & Associates LP’s portfolio, making the stock its 26th largest position. Royce & Associates LP’s holdings in ESAB were worth $59,389,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Pinnacle Wealth Planning Services Inc. grew its stake in shares of ESAB by 86.8% in the third quarter. Pinnacle Wealth Planning Services Inc. now owns 551 shares of the company’s stock valued at $36,000 after buying an additional 256 shares in the last quarter. Global Retirement Partners LLC acquired a new position in ESAB during the 2nd quarter worth approximately $76,000. EverSource Wealth Advisors LLC lifted its position in ESAB by 25.5% during the 1st quarter. EverSource Wealth Advisors LLC now owns 865 shares of the company’s stock worth $84,000 after acquiring an additional 176 shares in the last quarter. Dorato Capital Management acquired a new position in ESAB during the 3rd quarter worth approximately $105,000. Finally, Northwestern Mutual Wealth Management Co. purchased a new position in ESAB in the 2nd quarter worth approximately $151,000. Institutional investors and hedge funds own 91.13% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on ESAB shares. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of ESAB in a research report on Wednesday, November 4th. Roth Capital reiterated a “buy” rating and set a $133.00 price objective (down from $151.00) on shares of ESAB in a research note on Tuesday, September 15th. JPMorgan Chase & Co. reduced their target price on shares of ESAB from $125.00 to $95.00 and set an “overweight” rating on the stock in a research report on Thursday, October 8th. Stifel Nicolaus set a $114.00 target price on shares of ESAB in a research note on Monday, October 19th. Finally, UBS Group decreased their target price on shares of ESAB from $145.00 to $115.00 and set a “buy” rating for the company in a research note on Thursday, November 5th. Seven research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, ESAB has a consensus rating of “Moderate Buy” and a consensus target price of $118.14.

ESAB Stock Up 0.9%

Shares of ESAB stock traded up $0.74 during trading hours on Friday, hitting $83.29. 567,400 shares of the company’s stock traded hands, compared to its average volume of 1,259,378. The stock has a 50 day simple moving average of $71.00 and a 200-day simple moving average of $91.67. The company has a quick ratio of 1.19, a current ratio of 1.92 and a debt-to-equity ratio of 0.95. The company has a market cap of $5.18 billion, a PE ratio of 33.72, a PEG ratio of 1.33 and a beta of 1.17. ESAB Corporation has a twelve month low of $62.74 and a twelve month high of $137.42.

ESAB (NYSE:ESAB) last released its quarterly earnings results on Wednesday, November 4th. The company reported $1.30 EPS for the quarter, missing the consensus estimate of $1.33 by ($0.03). ESAB had a return on equity of 14.17% and a net margin of 5.05%. The business had revenue of $824.52 million during the quarter, compared to analyst estimates of $786.68 million. During the same quarter last year, the firm posted $1.32 EPS. The company’s revenue was up 13.3% compared to the same quarter last year. Equities research analysts anticipate that ESAB Corporation will post 5.31 earnings per share for the current fiscal year.

ESAB Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 16th. Shareholders of record on Friday, October 2nd were paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date was Friday, October 2nd. ESAB’s dividend payout ratio (DPR) is 19.43%.

Insiders Place Their Bets

In other ESAB news, Director Rhonda L. Jordan sold 3,733 shares of ESAB stock in a transaction that occurred on Thursday, November 5th. The stock was sold at an average price of $78.86, for a total transaction of $294,384.38. Following the sale, the director directly owned 3,733 shares in the company, valued at $294,384.38. The trade was a 50.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 7.20% of the stock is currently owned by company insiders.

ESAB Profile

ESAB Corporation (NYSE: ESAB) develops and supplies equipment, consumables and digital solutions for welding and cutting. Its products include welding power sources, filler metals, automated welding systems, plasma and gas cutting equipment, and gas control products used in manufacturing, construction, energy and other industrial markets. The company serves customers around the world through a network of manufacturing, sales and distribution operations. Its brands include ESAB and Victor, and its offerings also cover software and services that support welding and cutting workflows.