Oppenheimer & Co. Inc. Makes New $1.13 Million Investment in ESAB Corporation $ESAB

Oppenheimer & Co. Inc. purchased a new stake in shares of ESAB Corporation (NYSE:ESAB) during the third quarter, Holdings Channel reports. The fund purchased 10,075 shares of the company’s stock, valued at approximately $1,126,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Sumitomo Mitsui Trust Group Inc. increased its position in ESAB by 3.1% during the second quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,693 shares of the company’s stock worth $325,000 after buying an additional 81 shares during the last quarter. Thrivent Financial for Lutherans increased its holdings in shares of ESAB by 0.7% during the 2nd quarter. Thrivent Financial for Lutherans now owns 13,417 shares of the company’s stock valued at $1,617,000 after acquiring an additional 95 shares during the last quarter. State of Michigan Retirement System increased its holdings in shares of ESAB by 0.7% during the 2nd quarter. State of Michigan Retirement System now owns 13,702 shares of the company’s stock valued at $1,652,000 after acquiring an additional 100 shares during the last quarter. ProShare Advisors LLC raised its stake in shares of ESAB by 4.4% in the 2nd quarter. ProShare Advisors LLC now owns 2,527 shares of the company’s stock valued at $305,000 after acquiring an additional 106 shares in the last quarter. Finally, Ellevest Inc. lifted its holdings in ESAB by 3.8% in the 2nd quarter. Ellevest Inc. now owns 3,150 shares of the company’s stock worth $380,000 after purchasing an additional 114 shares during the last quarter. Institutional investors and hedge funds own 91.13% of the company’s stock.

ESAB Stock Up 0.8%

NYSE ESAB opened at $134.92 on Monday. ESAB Corporation has a twelve month low of $100.17 and a twelve month high of $137.42. The stock has a market cap of $8.19 billion, a PE ratio of 33.98, a PEG ratio of 2.50 and a beta of 1.24. The firm has a 50-day simple moving average of $118.93 and a 200 day simple moving average of $116.11. 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. Shareholders of record on Wednesday, December 31st were given a $0.10 dividend. The ex-dividend date was Wednesday, December 31st. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.3%. ESAB’s dividend payout ratio (DPR) is currently 10.08%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on ESAB shares. UBS Group lifted their price target on shares of ESAB from $147.00 to $149.00 and gave the company a “buy” rating in a research report on Monday, October 20th. Weiss Ratings upgraded shares of ESAB from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, February 2nd. Stifel Nicolaus upped their price target on shares of ESAB from $143.00 to $144.00 and gave the company a “buy” rating in a report on Friday, January 23rd. Oppenheimer raised their price target on ESAB from $142.00 to $148.00 and gave the company an “outperform” rating in a research report on Friday, January 23rd. Finally, JPMorgan Chase & Co. cut their price objective on ESAB from $138.00 to $130.00 and set an “overweight” rating for the company in a research report on Tuesday, February 3rd. Seven research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average 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.