Walleye Capital LLC Boosts Position in ESAB Corporation $ESAB

Walleye Capital LLC lifted its holdings in shares of ESAB Corporation (NYSE:ESAB) by 506.4% in the first quarter, Holdings Channel.com reports. The fund owned 30,399 shares of the company’s stock after purchasing an additional 25,386 shares during the period. Walleye Capital LLC’s holdings in ESAB were worth $2,938,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ESAB. Los Angeles Capital Management LLC bought a new stake in ESAB in the fourth quarter valued at $33,000. Northwestern Mutual Wealth Management Co. raised its holdings in 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 purchasing an additional 174 shares in the last quarter. Smartleaf Asset Management LLC lifted its position in shares of ESAB by 259.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 381 shares of the company’s stock worth $43,000 after purchasing an additional 275 shares during the period. Global Retirement Partners LLC lifted its position in shares of ESAB by 3,023.1% in the 4th quarter. Global Retirement Partners LLC now owns 406 shares of the company’s stock worth $45,000 after purchasing an additional 393 shares during the period. Finally, UMB Bank n.a. lifted its position in shares of ESAB by 185.3% in the 4th quarter. UMB Bank n.a. now owns 642 shares of the company’s stock worth $72,000 after purchasing an additional 417 shares during the period. Hedge funds and other institutional investors own 91.13% of the company’s stock.

Analyst Upgrades and Downgrades

ESAB has been the topic of several research analyst 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 price objective on shares of ESAB from $142.00 to $151.00 and gave the stock a “buy” rating in a report on Tuesday, July 7th. Oppenheimer cut their price objective on ESAB from $140.00 to $135.00 and set an “outperform” rating on the stock in a research report on Tuesday. JPMorgan Chase & Co. reduced their target price on ESAB from $148.00 to $135.00 and set an “overweight” rating on the stock in a report on Friday, April 10th. Finally, DA Davidson began coverage on ESAB in a research report on Monday, June 15th. They issued a “buy” rating and a $130.00 target price for the company. Eight equities research 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 company currently has an average rating of “Moderate Buy” and an average price target of $138.38.

ESAB Stock Down 0.3%

Shares of NYSE:ESAB opened at $83.78 on Friday. The stock has a fifty day simple moving average of $92.12 and a two-hundred day simple moving average of $104.40. The stock has a market capitalization of $5.10 billion, a price-to-earnings ratio of 24.79, a PEG ratio of 1.57 and a beta of 1.17. ESAB Corporation has a 12-month low of $82.18 and a 12-month high of $137.42. 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 (NYSE:ESAB) last released its earnings results on Thursday, May 7th. The company reported $1.31 EPS for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.01). ESAB had a return on equity of 15.04% and a net margin of 7.11%.The company had revenue of $745.60 million during the quarter, compared to analysts’ expectations of $706.74 million. During the same period in the prior year, the company posted $1.25 earnings per share. The company’s revenue was up 10.0% on a year-over-year basis. On average, research analysts anticipate that ESAB Corporation will post 5.72 earnings per share for the current fiscal year.

ESAB Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, July 17th. Investors of record on Friday, July 3rd were paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date was Thursday, July 2nd. This is a positive change from ESAB’s previous quarterly dividend of $0.10. ESAB’s dividend payout ratio (DPR) is presently 14.20%.

ESAB 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.