Capital Research Global Investors Makes New Investment in ESAB Corporation $ESAB

Capital Research Global Investors purchased a new position in shares of ESAB Corporation (NYSE:ESAB) during the 4th quarter, Holdings Channel reports. The fund purchased 618,502 shares of the company’s stock, valued at approximately $69,099,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. FNY Investment Advisers LLC acquired a new position in shares of ESAB during the 3rd quarter worth about $30,000. Los Angeles Capital Management LLC acquired a new position in ESAB in the 4th quarter valued at about $33,000. Northwestern Mutual Wealth Management Co. grew its stake in ESAB by 109.4% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 333 shares of the company’s stock valued at $40,000 after buying an additional 174 shares during the last quarter. Global Retirement Partners LLC grew its stake in ESAB by 3,023.1% in the 4th quarter. Global Retirement Partners LLC now owns 406 shares of the company’s stock valued at $45,000 after buying an additional 393 shares during the last quarter. Finally, AlphaQuest LLC bought a new stake in ESAB in the 3rd quarter valued at about $58,000. 91.13% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have issued reports on ESAB shares. Roth Mkm set a $142.00 price objective on shares of ESAB in a report on Thursday, April 16th. Stifel Nicolaus set a $141.00 price target on shares of ESAB in a report on Friday, May 8th. Weiss Ratings downgraded shares of ESAB from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, April 27th. JPMorgan Chase & Co. cut their price target on shares of ESAB from $148.00 to $135.00 and set an “overweight” rating for the company in a report on Friday, April 10th. Finally, DA Davidson cut their price target on shares of ESAB from $146.00 to $142.00 and set a “buy” rating for the company in a report on Thursday, April 16th. Eight research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $139.88.

ESAB Price Performance

Shares of NYSE:ESAB opened at $88.43 on Wednesday. The company has a market cap of $5.38 billion, a price-to-earnings ratio of 26.16, a PEG ratio of 1.61 and a beta of 1.19. 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 50 day simple moving average of $96.35 and a 200 day simple moving average of $108.67. ESAB Corporation has a one year low of $83.17 and a one year high of $137.42.

ESAB (NYSE:ESAB) last issued its quarterly earnings data on Thursday, May 7th. The company reported $1.31 EPS for the quarter, missing the consensus estimate of $1.32 by ($0.01). The company had revenue of $745.60 million during the quarter, compared to the consensus estimate of $706.74 million. ESAB had a net margin of 7.11% and a return on equity of 15.04%. ESAB’s revenue for the quarter was up 10.0% on a year-over-year basis. During the same period in the previous year, the company earned $1.25 EPS. Research analysts predict that ESAB Corporation will post 5.81 earnings per share for the current fiscal year.

ESAB Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 17th. Investors of record on Friday, July 3rd will be paid a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend is Thursday, July 2nd. This is a positive change from ESAB’s previous quarterly dividend of $0.10. ESAB’s payout ratio is currently 11.83%.

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.