Sei Investments Co. Acquires 7,737 Shares of ESAB Corporation $ESAB

Sei Investments Co. grew its holdings in ESAB Corporation (NYSE:ESAB) by 8.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 98,000 shares of the company’s stock after purchasing an additional 7,737 shares during the quarter. Sei Investments Co.’s holdings in ESAB were worth $9,473,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Bessemer Group Inc. lifted its holdings in ESAB by 6,787.0% in the fourth quarter. Bessemer Group Inc. now owns 1,053,776 shares of the company’s stock valued at $117,730,000 after buying an additional 1,038,475 shares during the period. Norges Bank bought a new position in shares of ESAB in the 4th quarter worth $85,692,000. Capital Research Global Investors acquired a new stake in shares of ESAB during the fourth quarter worth $69,099,000. Price T Rowe Associates Inc. MD increased its holdings in ESAB by 11.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,852,692 shares of the company’s stock valued at $653,864,000 after purchasing an additional 613,327 shares during the last quarter. Finally, Durable Capital Partners LP lifted its stake in ESAB by 40.5% in the third quarter. Durable Capital Partners LP now owns 1,945,854 shares of the company’s stock valued at $217,430,000 after buying an additional 560,678 shares during the period. 91.13% of the stock is owned by institutional investors.

ESAB Trading Up 1.3%

NYSE ESAB opened at $86.67 on Friday. ESAB Corporation has a one year low of $82.18 and a one year high of $137.42. The company has a debt-to-equity ratio of 0.91, a current ratio of 2.97 and a quick ratio of 2.26. The firm has a market cap of $5.28 billion, a P/E ratio of 25.64, a P/E/G ratio of 1.61 and a beta of 1.17. The stock’s 50-day moving average is $91.83 and its 200-day moving average is $103.23.

ESAB (NYSE:ESAB) last issued its quarterly earnings data on Thursday, May 7th. The company reported $1.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.32 by ($0.01). ESAB had a net margin of 7.11% and a return on equity of 15.04%. The business had revenue of $745.60 million during the quarter, compared to analyst estimates of $706.74 million. During the same quarter in the prior year, the firm posted $1.25 earnings per share. ESAB’s revenue for the quarter was up 10.0% compared to the same quarter last year. Sell-side analysts anticipate that ESAB Corporation will post 5.72 earnings per share for the current fiscal year.

ESAB Increases Dividend

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

Analyst Ratings Changes

Several research firms have recently issued reports on ESAB. Oppenheimer decreased their target price on ESAB from $140.00 to $135.00 and set an “outperform” rating for the company in a research report on Tuesday, July 21st. Weiss Ratings reissued a “hold (c)” rating on shares of ESAB in a research note on Friday, July 24th. DA Davidson initiated coverage on shares of ESAB in a research note on Monday, June 15th. They issued a “buy” rating and a $130.00 target price for the company. Roth Capital increased their target price on shares of ESAB from $142.00 to $151.00 and gave the stock a “buy” rating in a report on Tuesday, July 7th. Finally, Stifel Nicolaus reduced their price target on shares of ESAB from $141.00 to $137.00 and set a “buy” rating on the stock in a research report on Monday, July 20th. Eight investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $138.38.

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.