Y Intercept Hong Kong Ltd Purchases 7,296 Shares of ESAB Corporation $ESAB

Y Intercept Hong Kong Ltd increased its position in ESAB Corporation (NYSE:ESAB) by 52.2% during the 1st quarter, Holdings Channel.com reports. The firm owned 21,280 shares of the company’s stock after purchasing an additional 7,296 shares during the period. Y Intercept Hong Kong Ltd’s holdings in ESAB were worth $2,057,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Royal Bank of Canada raised its holdings in ESAB by 29.4% in the first quarter. Royal Bank of Canada now owns 51,867 shares of the company’s stock worth $6,042,000 after purchasing an additional 11,772 shares in the last quarter. Millennium Management LLC bought a new stake in shares of ESAB during the 1st quarter valued at $10,616,000. Goldman Sachs Group Inc. grew its position in shares of ESAB by 25.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 458,339 shares of the company’s stock worth $53,396,000 after buying an additional 94,335 shares during the period. Northwestern Mutual Wealth Management Co. grew its position in shares of ESAB by 109.4% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 333 shares of the company’s stock worth $40,000 after buying an additional 174 shares during the period. Finally, EverSource Wealth Advisors LLC increased its stake in shares of ESAB by 183.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 972 shares of the company’s stock worth $117,000 after acquiring an additional 629 shares in the last quarter. Institutional investors own 91.13% of the company’s stock.

ESAB Stock Performance

Shares of ESAB opened at $86.81 on Thursday. The business’s fifty day simple moving average is $94.39 and its two-hundred day simple moving average is $106.46. The company has a current ratio of 2.97, a quick ratio of 2.26 and a debt-to-equity ratio of 0.91. ESAB Corporation has a 12 month low of $82.18 and a 12 month high of $137.42. The company has a market cap of $5.29 billion, a price-to-earnings ratio of 25.68, a P/E/G ratio of 1.72 and a beta of 1.17.

ESAB (NYSE:ESAB) last posted its quarterly earnings results on Thursday, May 7th. The company reported $1.31 earnings per share for the quarter, missing the consensus estimate of $1.32 by ($0.01). The business had revenue of $745.60 million during the quarter, compared to analysts’ expectations of $706.74 million. ESAB had a return on equity of 15.04% and a net margin of 7.11%.The firm’s revenue for the quarter was up 10.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.25 EPS. Research analysts anticipate that ESAB Corporation will post 5.82 earnings per share for the current fiscal year.

ESAB Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 17th. Stockholders of record on Friday, July 3rd will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend is Thursday, July 2nd. This is a boost from ESAB’s previous quarterly dividend of $0.10. ESAB’s payout ratio is 14.20%.

Analyst Upgrades and Downgrades

ESAB has been the subject of a number of recent research reports. Weiss Ratings cut shares of ESAB from a “hold (c+)” rating to a “hold (c)” rating in a research report on Monday, April 27th. Roth Capital raised their target price on shares of ESAB from $142.00 to $151.00 and gave the company a “buy” rating in a research note on Tuesday. Wall Street Zen lowered shares of ESAB from a “buy” rating to a “hold” rating in a report on Saturday, March 21st. Oppenheimer reissued an “outperform” rating and issued a $140.00 price target on shares of ESAB in a research report on Tuesday, April 14th. Finally, Stifel Nicolaus set a $141.00 price target on ESAB in a research note on Friday, May 8th. Eight analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $139.50.

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.