ESAB (NYSE:ESAB) Stock Price Down 7.1% – What’s Next?

Shares of ESAB Corporation (NYSE:ESAB) dropped 7.1% during mid-day trading on Monday . The company traded as low as $111.33 and last traded at $112.56. Approximately 306,568 shares traded hands during mid-day trading, a decline of 3% from the average daily volume of 315,983 shares. The stock had previously closed at $121.10.

Analyst Ratings Changes

A number of equities analysts have issued reports on ESAB shares. UBS Group increased their target price on ESAB from $147.00 to $149.00 and gave the stock a “buy” rating in a report on Monday, October 20th. Stifel Nicolaus boosted their price objective on shares of ESAB from $143.00 to $144.00 and gave the company a “buy” rating in a report on Friday, January 23rd. Weiss Ratings raised shares of ESAB from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday. Wall Street Zen downgraded ESAB from a “buy” rating to a “hold” rating in a research report on Sunday, December 28th. Finally, Roth Mkm reaffirmed a “buy” rating and set a $146.00 price objective (down previously from $150.00) on shares of ESAB in a research report on Tuesday. Seven equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $140.63.

ESAB Trading Up 8.5%

The company has a debt-to-equity ratio of 0.62, a current ratio of 1.99 and a quick ratio of 1.24. The company has a market cap of $7.76 billion, a PE ratio of 22.62, a PEG ratio of 2.07 and a beta of 1.24. The firm’s 50 day moving average is $115.86 and its 200 day moving average is $116.12.

ESAB Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, January 16th. Shareholders of record on Wednesday, December 31st were given a dividend of $0.10 per share. The ex-dividend date of this dividend 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 is presently 10.08%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in ESAB. Schwartz Investment Counsel Inc. bought a new position in ESAB during the fourth quarter valued at approximately $8,938,000. Lafayette Investments Inc. boosted its holdings in ESAB by 0.5% in the 4th quarter. Lafayette Investments Inc. now owns 34,266 shares of the company’s stock worth $3,828,000 after buying an additional 161 shares during the period. Sequoia Financial Advisors LLC bought a new stake in ESAB during the 4th quarter valued at approximately $243,000. Van Berkom & Associates Inc. increased its holdings in ESAB by 6.4% in the 4th quarter. Van Berkom & Associates Inc. now owns 762,278 shares of the company’s stock valued at $85,162,000 after acquiring an additional 45,873 shares during the last quarter. Finally, Vest Financial LLC lifted its position in shares of ESAB by 11.3% in the fourth quarter. Vest Financial LLC now owns 11,616 shares of the company’s stock worth $1,298,000 after buying an additional 1,184 shares in the last quarter. Hedge funds and other institutional investors 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.