Mitsubishi UFJ Trust & Banking Corp Increases Stock Holdings in ESAB Corporation $ESAB

Mitsubishi UFJ Trust & Banking Corp boosted its position in shares of ESAB Corporation (NYSE:ESAB) by 9.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 122,631 shares of the company’s stock after purchasing an additional 10,592 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned approximately 0.20% of ESAB worth $13,703,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the company. Hudson Value Partners LLC increased its holdings in shares of ESAB by 6.6% during the 3rd quarter. Hudson Value Partners LLC now owns 48,770 shares of the company’s stock worth $5,450,000 after buying an additional 3,033 shares during the last quarter. Vest Financial LLC increased its stake in ESAB by 17.5% during the third quarter. Vest Financial LLC now owns 10,432 shares of the company’s stock worth $1,166,000 after acquiring an additional 1,550 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in ESAB by 18.3% during the third quarter. Massachusetts Financial Services Co. MA now owns 278,999 shares of the company’s stock worth $31,175,000 after acquiring an additional 43,142 shares during the last quarter. Stephens Inc. AR raised its position in ESAB by 2.9% in the third quarter. Stephens Inc. AR now owns 45,527 shares of the company’s stock valued at $5,087,000 after purchasing an additional 1,290 shares during the period. Finally, Quent Capital LLC acquired a new position in shares of ESAB in the 3rd quarter valued at $167,000. Hedge funds and other institutional investors own 91.13% of the company’s stock.

ESAB Trading Down 2.4%

NYSE ESAB opened at $117.63 on Wednesday. The firm has a 50 day simple moving average of $114.41 and a 200-day simple moving average of $116.35. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.24 and a current ratio of 1.99. ESAB Corporation has a one year low of $100.17 and a one year high of $135.84. The firm has a market cap of $7.14 billion, a price-to-earnings ratio of 29.63, a PEG ratio of 2.10 and a beta of 1.24.

ESAB (NYSE:ESAB) last announced its earnings results on Wednesday, October 29th. The company reported $1.32 earnings per share for the quarter, topping the consensus estimate of $1.27 by $0.05. The firm had revenue of $727.85 million for the quarter, compared to the consensus estimate of $663.57 million. ESAB had a net margin of 8.70% and a return on equity of 15.93%. The firm’s revenue for the quarter was up 8.1% on a year-over-year basis. During the same period in the prior year, the firm earned $1.25 EPS. Equities research analysts anticipate that ESAB Corporation will post 5.16 EPS for the current fiscal year.

ESAB Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 16th. Investors of record on Wednesday, December 31st were issued 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 10.08%.

Analysts Set New Price Targets

A number of analysts recently issued reports on ESAB shares. JPMorgan Chase & Co. cut their price objective on ESAB from $140.00 to $138.00 and set an “overweight” rating for the company in a research report on Wednesday, January 14th. UBS Group increased their target price on shares of ESAB from $147.00 to $149.00 and gave the stock a “buy” rating in a research note on Monday, October 20th. Stifel Nicolaus boosted their price target on shares of ESAB from $143.00 to $144.00 and gave the company a “buy” rating in a research note on Friday, January 23rd. Oppenheimer upped their price objective on shares of ESAB from $142.00 to $148.00 and gave the stock an “outperform” rating in a report on Friday. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of ESAB in a research report on Monday, December 29th. Six investment analysts have rated the stock with a Buy rating and three 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 $142.13.

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.