Bessemer Group Inc. Has $1.85 Million Holdings in ESAB Corporation $ESAB

Bessemer Group Inc. boosted its position in shares of ESAB Corporation (NYSE:ESAB) by 3.4% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 15,349 shares of the company’s stock after buying an additional 505 shares during the period. Bessemer Group Inc.’s holdings in ESAB were worth $1,851,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of ESAB. Caitong International Asset Management Co. Ltd bought a new stake in shares of ESAB during the 1st quarter worth approximately $33,000. First Horizon Advisors Inc. increased its stake in ESAB by 204.8% in the first quarter. First Horizon Advisors Inc. now owns 320 shares of the company’s stock valued at $37,000 after acquiring an additional 215 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in ESAB by 706.7% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 363 shares of the company’s stock valued at $42,000 after purchasing an additional 318 shares in the last quarter. GAMMA Investing LLC lifted its stake in ESAB by 37.7% during the first quarter. GAMMA Investing LLC now owns 756 shares of the company’s stock worth $88,000 after purchasing an additional 207 shares during the last quarter. Finally, Quarry LP lifted its stake in ESAB by 637.2% during the first quarter. Quarry LP now owns 1,268 shares of the company’s stock worth $148,000 after purchasing an additional 1,096 shares during the last quarter. 91.13% of the stock is owned by institutional investors.

ESAB Trading Up 3.4%

NYSE:ESAB opened at $118.23 on Friday. ESAB Corporation has a 52 week low of $100.17 and a 52 week high of $135.97. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.26 and a current ratio of 1.99. The firm’s fifty day moving average is $115.62 and its 200-day moving average is $120.15. The firm has a market cap of $7.18 billion, a P/E ratio of 29.78, a P/E/G ratio of 2.50 and a beta of 1.23.

ESAB (NYSE:ESAB) last issued its quarterly earnings results on Wednesday, October 29th. The company reported $1.32 earnings per share for the quarter, topping analysts’ consensus estimates of $1.27 by $0.05. The firm had revenue of $727.85 million during the quarter, compared to the consensus estimate of $663.57 million. ESAB had a return on equity of 15.93% and a net margin of 8.70%.The business’s revenue was up 8.1% compared to the same quarter last year. During the same period last year, the business posted $1.25 EPS. ESAB has set its FY 2025 guidance at 5.200-5.30 EPS. Equities analysts expect that ESAB Corporation will post 5.16 earnings per share for the current year.

ESAB Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 17th. Investors of record on Friday, October 3rd were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date was Friday, October 3rd. ESAB’s payout ratio is presently 9.57%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on ESAB. Oppenheimer decreased their price target on ESAB from $144.00 to $142.00 and set an “outperform” rating on the stock in a research note on Thursday, August 7th. Roth Capital began coverage on shares of ESAB in a report on Friday, September 5th. They set a “buy” rating and a $150.00 price target on the stock. Stifel Nicolaus upgraded shares of ESAB from a “hold” rating to a “buy” rating and set a $141.00 price objective for the company in a research report on Thursday, August 7th. Zacks Research cut shares of ESAB from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 18th. Finally, Loop Capital raised ESAB from a “hold” rating to a “buy” rating and raised their price objective for the company from $130.00 to $140.00 in a report on Friday, August 22nd. Eight analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, ESAB currently has an average rating of “Moderate Buy” and a consensus price target of $143.33.

Insider Buying and Selling

In other ESAB news, Director Rhonda L. Jordan sold 4,067 shares of ESAB stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $113.05, for a total value of $459,774.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 7.30% of the company’s stock.

ESAB Company Profile

ESAB Corporation engages in the formulation, development, manufacture, and supply of consumable products and equipment for use in cutting, joining, automated welding, and gas control equipment. Its comprehensive range of welding consumables includes electrodes, cored and solid wires, and fluxes using a range of specialty and other materials; and cutting consumables comprising electrodes, nozzles, shields, and tips.