ESAB Corporation $ESAB Stock Purchased by Royce & Associates LP

Royce & Associates LP grew its holdings in shares of ESAB Corporation (NYSE:ESAB) by 4.1% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 901,466 shares of the company’s stock after purchasing an additional 35,640 shares during the quarter. ESAB makes up about 0.5% of Royce & Associates LP’s investment portfolio, making the stock its 26th biggest position. Royce & Associates LP owned 1.45% of ESAB worth $59,389,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Russell Investments Group Ltd. increased its stake in ESAB by 96.0% in the third quarter. Russell Investments Group Ltd. now owns 169,693 shares of the company’s stock valued at $11,179,000 after purchasing an additional 83,097 shares during the last quarter. Fifth Third Bancorp boosted its stake in ESAB by 8.4% in the 3rd quarter. Fifth Third Bancorp now owns 13,128 shares of the company’s stock worth $865,000 after buying an additional 1,019 shares during the last quarter. Jefferies Financial Group Inc. acquired a new stake in ESAB in the 3rd quarter worth about $2,661,000. Van Berkom & Associates Inc. boosted its stake in ESAB by 24.4% in the 3rd quarter. Van Berkom & Associates Inc. now owns 821,499 shares of the company’s stock worth $54,120,000 after buying an additional 161,317 shares during the last quarter. Finally, Kestra Investment Management LLC grew its holdings in ESAB by 22.8% in the 3rd quarter. Kestra Investment Management LLC now owns 18,672 shares of the company’s stock valued at $1,230,000 after buying an additional 3,470 shares during the period. Institutional investors and hedge funds own 91.13% of the company’s stock.

Insider Buying and Selling at ESAB

In other news, Director Rhonda L. Jordan sold 3,733 shares of ESAB stock in a transaction dated Thursday, November 5th. The stock was sold at an average price of $78.86, for a total value of $294,384.38. Following the transaction, the director directly owned 3,733 shares of the company’s stock, valued at $294,384.38. The trade was a 50.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. 7.20% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Oppenheimer dropped their price objective on shares of ESAB from $135.00 to $110.00 and set an “outperform” rating for the company in a research note on Wednesday, October 21st. Roth Capital reiterated a “buy” rating and set a $133.00 price objective (down from $151.00) on shares of ESAB in a report on Tuesday, September 15th. JPMorgan Chase & Co. decreased their target price on shares of ESAB from $125.00 to $95.00 and set an “overweight” rating on the stock in a research report on Thursday, October 8th. UBS Group lowered their target price on shares of ESAB from $145.00 to $115.00 and set a “buy” rating for the company in a report on Thursday, November 5th. Finally, Stifel Nicolaus set a $114.00 target price on shares of ESAB in a report on Monday, October 19th. Seven research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $118.14.

ESAB Trading Up 0.9%

Shares of ESAB traded up $0.74 during trading hours on Friday, hitting $83.29. The stock had a trading volume of 567,400 shares, compared to its average volume of 1,259,378. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.19 and a current ratio of 1.92. The firm has a market cap of $5.18 billion, a P/E ratio of 33.72, a P/E/G ratio of 1.33 and a beta of 1.17. The company’s fifty day simple moving average is $71.00 and its 200 day simple moving average is $91.67. ESAB Corporation has a 12-month low of $62.74 and a 12-month high of $137.42.

ESAB (NYSE:ESAB) last issued its earnings results on Wednesday, November 4th. The company reported $1.30 earnings per share for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.03). ESAB had a net margin of 5.05% and a return on equity of 14.17%. The firm had revenue of $824.52 million during the quarter, compared to analyst estimates of $786.68 million. During the same quarter in the previous year, the business posted $1.32 EPS. ESAB’s revenue was up 13.3% compared to the same quarter last year. Equities research analysts forecast that ESAB Corporation will post 5.31 EPS for the current fiscal year.

ESAB Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 16th. Stockholders of record on Friday, October 2nd were issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date was Friday, October 2nd. ESAB’s dividend payout ratio (DPR) is 19.43%.

ESAB Company Profile

ESAB Corporation (NYSE: ESAB) develops and supplies equipment, consumables and digital solutions for welding and cutting. Its products include welding power sources, filler metals, automated welding systems, plasma and gas cutting equipment, and gas control products used in manufacturing, construction, energy and other industrial markets. The company serves customers around the world through a network of manufacturing, sales and distribution operations. Its brands include ESAB and Victor, and its offerings also cover software and services that support welding and cutting workflows.