Roubaix Capital LLC Purchases New Stake in ESAB Corporation $ESAB

Roubaix Capital LLC acquired a new position in shares of ESAB Corporation (NYSE:ESAB) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 51,928 shares of the company’s stock, valued at approximately $5,019,000. ESAB makes up 2.3% of Roubaix Capital LLC’s holdings, making the stock its 21st biggest holding. Roubaix Capital LLC owned about 0.09% of ESAB at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in ESAB. FNY Investment Advisers LLC acquired a new stake in shares of ESAB in the 3rd quarter worth $30,000. Los Angeles Capital Management LLC acquired a new position in shares of ESAB during the 4th quarter valued at about $33,000. Northwestern Mutual Wealth Management Co. boosted its position in shares of ESAB by 109.4% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 333 shares of the company’s stock valued at $40,000 after acquiring an additional 174 shares during the last quarter. Smartleaf Asset Management LLC grew its holdings in shares of ESAB by 259.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 381 shares of the company’s stock valued at $43,000 after purchasing an additional 275 shares during the period. Finally, Global Retirement Partners LLC grew its holdings in shares of ESAB by 3,023.1% in the fourth quarter. Global Retirement Partners LLC now owns 406 shares of the company’s stock valued at $45,000 after purchasing an additional 393 shares during the period. 91.13% of the stock is currently owned by hedge funds and other institutional investors.

ESAB Stock Down 2.2%

Shares of NYSE:ESAB opened at $89.77 on Friday. The company has a market capitalization of $5.47 billion, a price-to-earnings ratio of 26.56, a PEG ratio of 1.65 and a beta of 1.17. ESAB Corporation has a 12-month low of $82.18 and a 12-month high of $137.42. The business has a 50-day moving average price of $92.84 and a 200 day moving average price of $105.25. The company has a current ratio of 2.97, a quick ratio of 2.26 and a debt-to-equity ratio of 0.91.

ESAB (NYSE:ESAB) last posted its earnings results on Thursday, May 7th. The company reported $1.31 EPS for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.01). The company had revenue of $745.60 million during the quarter, compared to analyst estimates of $706.74 million. ESAB had a net margin of 7.11% and a return on equity of 15.04%. The company’s quarterly revenue was up 10.0% compared to the same quarter last year. During the same period in the previous year, the company earned $1.25 EPS. Sell-side analysts expect that ESAB Corporation will post 5.79 EPS for the current year.

ESAB Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 17th. Stockholders of record on Friday, July 3rd were paid a $0.12 dividend. This is a positive change from ESAB’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend was Thursday, July 2nd. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.5%. ESAB’s payout ratio is presently 14.20%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on ESAB shares. Wall Street Zen downgraded shares of ESAB from a “buy” rating to a “hold” rating in a research note on Saturday, March 21st. Weiss Ratings cut shares of ESAB from a “hold (c+)” rating to a “hold (c)” rating in a research note 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. Jefferies Financial Group reaffirmed a “buy” rating and set a $130.00 price target (down from $150.00) on shares of ESAB in a research report on Tuesday, March 31st. Finally, Oppenheimer reiterated an “outperform” rating and issued a $140.00 price objective on shares of ESAB in a report on Tuesday, April 14th. Eight investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $139.50.

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.