ESAB Corporation $ESAB Shares Acquired by Diamond Hill Capital Management Inc.

Diamond Hill Capital Management Inc. grew its stake in ESAB Corporation (NYSE:ESAB) by 8.3% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 168,668 shares of the company’s stock after acquiring an additional 12,894 shares during the quarter. Diamond Hill Capital Management Inc. owned about 0.28% of ESAB worth $18,847,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Norges Bank acquired a new position in ESAB during the second quarter worth $83,814,000. Durable Capital Partners LP grew its position in ESAB by 41.5% in the 2nd quarter. Durable Capital Partners LP now owns 1,385,176 shares of the company’s stock valued at $166,983,000 after acquiring an additional 406,057 shares in the last quarter. Cooke & Bieler LP grew its position in ESAB by 64.3% in the 3rd quarter. Cooke & Bieler LP now owns 996,533 shares of the company’s stock valued at $111,353,000 after acquiring an additional 390,104 shares in the last quarter. Van Berkom & Associates Inc. lifted its position in shares of ESAB by 28.6% during the third quarter. Van Berkom & Associates Inc. now owns 716,405 shares of the company’s stock worth $80,051,000 after purchasing an additional 159,539 shares in the last quarter. Finally, First Trust Advisors LP lifted its holdings in ESAB by 91.1% during the 2nd quarter. First Trust Advisors LP now owns 268,158 shares of the company’s stock worth $32,326,000 after buying an additional 127,865 shares in the last quarter. Institutional investors and hedge funds own 91.13% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on ESAB. Wall Street Zen lowered ESAB from a “buy” rating to a “hold” rating in a report on Sunday, December 28th. UBS Group increased their price objective on ESAB from $147.00 to $149.00 and gave the stock a “buy” rating in a research report on Monday, October 20th. Roth Mkm reiterated a “buy” rating and set a $146.00 price target (down from $150.00) on shares of ESAB in a research note on Tuesday. Oppenheimer raised their target price on ESAB from $142.00 to $148.00 and gave the company an “outperform” rating in a report on Friday, January 23rd. Finally, JPMorgan Chase & Co. reduced their price objective on ESAB from $138.00 to $130.00 and set an “overweight” rating for the company in a report on Tuesday, February 3rd. Seven research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, ESAB currently has a consensus rating of “Moderate Buy” and an average target price of $140.63.

ESAB Trading Up 5.2%

NYSE ESAB opened at $134.51 on Friday. The company has a market capitalization of $8.17 billion, a price-to-earnings ratio of 33.88, a price-to-earnings-growth ratio of 2.47 and a beta of 1.24. ESAB Corporation has a 12 month low of $100.17 and a 12 month high of $135.84. The company’s fifty day moving average price is $116.63 and its two-hundred day moving average price is $116.14. 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 company also recently declared a quarterly dividend, which was paid on Friday, January 16th. Stockholders of record on Wednesday, December 31st were given a dividend of $0.10 per share. The ex-dividend date was Wednesday, December 31st. This represents a $0.40 annualized dividend and a dividend yield of 0.3%. ESAB’s dividend payout ratio (DPR) is 10.08%.

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.