ESAB Corporation $ESAB Shares Sold by Strs Ohio

Strs Ohio reduced its stake in ESAB Corporation (NYSE:ESAB) by 97.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,361 shares of the company’s stock after selling 50,202 shares during the period. Strs Ohio’s holdings in ESAB were worth $132,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ESAB. FNY Investment Advisers LLC acquired a new position in shares of ESAB in the 3rd quarter valued at $30,000. Los Angeles Capital Management LLC purchased a new stake in ESAB in the fourth quarter valued at $33,000. Northwestern Mutual Wealth Management Co. boosted its stake in ESAB by 109.4% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 333 shares of the company’s stock valued at $40,000 after acquiring an additional 174 shares in the last quarter. Smartleaf Asset Management LLC boosted its stake in ESAB by 259.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 381 shares of the company’s stock valued at $43,000 after acquiring an additional 275 shares in the last quarter. Finally, Global Retirement Partners LLC grew its holdings in shares of ESAB by 3,023.1% during the fourth 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 last quarter. Institutional investors and hedge funds own 91.13% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on ESAB shares. Stifel Nicolaus set a $141.00 target price on ESAB in a report on Friday, May 8th. Jefferies Financial Group restated a “buy” rating and set a $130.00 price target (down from $150.00) on shares of ESAB in a research note on Tuesday, March 31st. Oppenheimer reaffirmed an “outperform” rating and set a $140.00 price target on shares of ESAB in a research report on Tuesday, April 14th. Weiss Ratings downgraded ESAB from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, April 27th. Finally, Wall Street Zen lowered shares of ESAB from a “buy” rating to a “hold” rating in a research report on Saturday, March 21st. Eight equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $139.50.

ESAB Stock Performance

Shares of ESAB stock opened at $89.17 on Monday. The stock has a market capitalization of $5.43 billion, a PE ratio of 26.38, a price-to-earnings-growth ratio of 1.64 and a beta of 1.17. ESAB Corporation has a 52-week low of $82.18 and a 52-week high of $137.42. The stock’s 50-day moving average price is $94.00 and its 200 day moving average price is $106.09. The company has a quick ratio of 2.26, a current ratio of 2.97 and a debt-to-equity ratio of 0.91.

ESAB (NYSE:ESAB) last posted its quarterly earnings data on Thursday, May 7th. The company reported $1.31 earnings per share 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 for the quarter, compared to analyst estimates of $706.74 million. During the same period in the previous year, the business posted $1.25 earnings per share. The firm’s revenue was up 10.0% compared to the same quarter last year. As a group, equities research analysts forecast that ESAB Corporation will post 5.8 EPS for the current 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 paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 0.5%. This is a boost from ESAB’s previous quarterly dividend of $0.10. The ex-dividend date is Thursday, July 2nd. ESAB’s dividend payout ratio (DPR) is currently 14.20%.

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.