ING Groep NV Buys New Position in ESAB Corporation $ESAB

ING Groep NV purchased a new position in ESAB Corporation (NYSE:ESAB) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 17,800 shares of the company’s stock, valued at approximately $1,989,000.

Several other institutional investors and hedge funds have also modified their holdings of ESAB. Northwestern Mutual Wealth Management Co. increased its stake 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 purchasing an additional 174 shares in the last quarter. AlphaQuest LLC bought a new stake in ESAB during the third quarter valued at about $58,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new stake in ESAB during the second quarter valued at about $59,000. Farther Finance Advisors LLC increased its position in 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. Finally, Hantz Financial Services Inc. raised its stake in shares of ESAB by 59.5% in the third quarter. Hantz Financial Services Inc. now owns 681 shares of the company’s stock worth $76,000 after buying an additional 254 shares during the period. Hedge funds and other institutional investors own 91.13% of the company’s stock.

ESAB Stock Performance

ESAB stock opened at $134.92 on Friday. The company’s 50-day moving average price is $118.93 and its 200-day moving average price is $116.32. The company has a quick ratio of 1.24, a current ratio of 1.99 and a debt-to-equity ratio of 0.62. ESAB Corporation has a twelve month low of $100.17 and a twelve month high of $137.42. The company has a market cap of $8.19 billion, a PE ratio of 33.98, a price-to-earnings-growth ratio of 2.48 and a beta of 1.24.

ESAB Announces Dividend

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

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Weiss Ratings raised shares of ESAB from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, February 2nd. Wall Street Zen cut shares of ESAB from a “buy” rating to a “hold” rating in a research note on Sunday, December 28th. JPMorgan Chase & Co. decreased their price objective on shares of ESAB from $138.00 to $130.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 3rd. Oppenheimer increased their price target on ESAB from $142.00 to $148.00 and gave the stock an “outperform” rating in a research note on Friday, January 23rd. Finally, Stifel Nicolaus lifted their target price on ESAB from $143.00 to $144.00 and gave the company a “buy” rating in a research note on Friday, January 23rd. Seven investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $140.63.

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.