New York State Common Retirement Fund Buys 3,743 Shares of ESAB Corporation $ESAB

New York State Common Retirement Fund increased its stake in shares of ESAB Corporation (NYSE:ESAB) by 9.4% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 43,402 shares of the company’s stock after acquiring an additional 3,743 shares during the quarter. New York State Common Retirement Fund owned about 0.07% of ESAB worth $4,850,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of ESAB. Northwestern Mutual Wealth Management Co. lifted its stake 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. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new stake in shares of ESAB in the second quarter worth about $59,000. Farther Finance Advisors LLC lifted its position in shares of ESAB by 60.4% in the third quarter. Farther Finance Advisors LLC now owns 669 shares of the company’s stock worth $75,000 after buying an additional 252 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in ESAB by 183.4% during the second quarter. EverSource Wealth Advisors LLC now owns 972 shares of the company’s stock valued at $117,000 after buying an additional 629 shares during the last quarter. Finally, Asset Management One Co. Ltd. grew its holdings in ESAB by 22.7% during the 3rd quarter. Asset Management One Co. Ltd. now owns 1,080 shares of the company’s stock valued at $121,000 after buying an additional 200 shares in the last quarter. 91.13% of the stock is owned by hedge funds and other institutional investors.

ESAB Stock Up 5.2%

Shares of NYSE ESAB opened at $134.51 on Friday. ESAB Corporation has a 1 year low of $100.17 and a 1 year high of $135.84. The firm has a 50-day simple moving average of $116.63 and a two-hundred day simple moving average of $116.25. The company has a market cap of $8.17 billion, a P/E ratio of 33.88, a PEG ratio of 2.35 and a beta of 1.24. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.99 and a quick ratio of 1.24.

ESAB Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 16th. Stockholders of record on Wednesday, December 31st were paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend was Wednesday, December 31st. ESAB’s payout ratio is currently 10.08%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Stifel Nicolaus boosted their price target on shares of ESAB from $143.00 to $144.00 and gave the stock a “buy” rating in a research report on Friday, January 23rd. Roth Mkm restated a “buy” rating and issued a $146.00 target price (down from $150.00) on shares of ESAB in a report on Tuesday. UBS Group upped their target price on shares of ESAB from $147.00 to $149.00 and gave the company a “buy” rating in a research report on Monday, October 20th. Wall Street Zen lowered ESAB from a “buy” rating to a “hold” rating in a research report on Sunday, December 28th. Finally, JPMorgan Chase & Co. reduced their price objective on ESAB from $138.00 to $130.00 and set an “overweight” rating on the stock in a research note on Tuesday. Seven investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $140.63.

About ESAB

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.