ESAB Corporation $ESAB Shares Acquired by Johnson Investment Counsel Inc.

Johnson Investment Counsel Inc. lifted its holdings in shares of ESAB Corporation (NYSE:ESAB) by 33.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 26,162 shares of the company’s stock after purchasing an additional 6,624 shares during the quarter. Johnson Investment Counsel Inc.’s holdings in ESAB were worth $2,923,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ESAB. Oppenheimer & Co. Inc. acquired a new position in ESAB in the third quarter valued at about $1,126,000. Diamond Hill Capital Management Inc. raised its stake in shares of ESAB by 8.3% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 168,668 shares of the company’s stock valued at $18,847,000 after acquiring an additional 12,894 shares during the period. Hantz Financial Services Inc. raised its stake in shares of ESAB by 59.5% in the 3rd quarter. Hantz Financial Services Inc. now owns 681 shares of the company’s stock valued at $76,000 after acquiring an additional 254 shares during the period. Van Berkom & Associates Inc. lifted its holdings in shares of ESAB by 28.6% in the 3rd quarter. Van Berkom & Associates Inc. now owns 716,405 shares of the company’s stock worth $80,051,000 after acquiring an additional 159,539 shares during the last quarter. Finally, State of Wyoming boosted its position in shares of ESAB by 22.6% during the 3rd quarter. State of Wyoming now owns 4,373 shares of the company’s stock worth $489,000 after purchasing an additional 805 shares during the period. 91.13% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Weiss Ratings raised ESAB from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, February 2nd. Roth Mkm reaffirmed a “buy” rating and issued a $146.00 price objective (down from $150.00) on shares of ESAB in a research note on Tuesday, February 3rd. JPMorgan Chase & Co. cut their price objective on ESAB from $138.00 to $130.00 and set an “overweight” rating on the stock in a report on Tuesday, February 3rd. Stifel Nicolaus increased their target price on ESAB from $143.00 to $144.00 and gave the stock a “buy” rating in a research note on Friday, January 23rd. Finally, Wall Street Zen downgraded ESAB from a “buy” rating to a “hold” rating in a research report on Sunday, December 28th. Seven investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $140.63.

ESAB Stock Up 0.3%

ESAB stock opened at $134.79 on Thursday. The company’s 50 day moving average price is $118.03 and its 200 day moving average price is $116.18. The firm has a market capitalization of $8.18 billion, a price-to-earnings ratio of 33.95, a PEG ratio of 2.49 and a beta of 1.24. ESAB Corporation has a fifty-two week low of $100.17 and a fifty-two week high of $136.40. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.24 and a current ratio of 1.99.

ESAB Dividend Announcement

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

ESAB Company 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.