102,050 Shares in ESAB Corporation $ESAB Purchased by Ceredex Value Advisors LLC

Ceredex Value Advisors LLC acquired a new stake in shares of ESAB Corporation (NYSE:ESAB) in the third quarter, Holdings Channel reports. The firm acquired 102,050 shares of the company’s stock, valued at approximately $11,403,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Diamond Hill Capital Management Inc. grew its position in shares of ESAB by 8.3% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 168,668 shares of the company’s stock worth $18,847,000 after buying an additional 12,894 shares in the last quarter. Van Berkom & Associates Inc. raised its holdings in shares of ESAB by 28.6% in the third quarter. Van Berkom & Associates Inc. now owns 716,405 shares of the company’s stock valued at $80,051,000 after acquiring an additional 159,539 shares in the last quarter. Advantage Alpha Capital Partners LP lifted its stake in ESAB by 56.4% in the second quarter. Advantage Alpha Capital Partners LP now owns 26,644 shares of the company’s stock worth $3,212,000 after acquiring an additional 9,608 shares during the period. Daiwa Securities Group Inc. lifted its stake in ESAB by 82.1% in the second quarter. Daiwa Securities Group Inc. now owns 39,739 shares of the company’s stock worth $4,791,000 after acquiring an additional 17,911 shares during the period. Finally, Champlain Investment Partners LLC grew its holdings in ESAB by 5.9% during the 2nd quarter. Champlain Investment Partners LLC now owns 2,043,843 shares of the company’s stock worth $246,385,000 after acquiring an additional 114,744 shares in the last quarter. 91.13% of the stock is currently owned by institutional investors.

ESAB Stock Up 0.7%

NYSE:ESAB opened at $107.80 on Wednesday. ESAB Corporation has a fifty-two week low of $100.17 and a fifty-two week high of $137.42. The stock has a market capitalization of $6.55 billion, a P/E ratio of 29.14, a P/E/G ratio of 1.97 and a beta of 1.23. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.17 and a current ratio of 1.90. The company’s 50-day simple moving average is $121.84 and its 200-day simple moving average is $116.74.

ESAB (NYSE:ESAB) last posted its quarterly earnings data on Friday, February 20th. The company reported $1.35 EPS for the quarter, topping the consensus estimate of $1.34 by $0.01. ESAB had a net margin of 7.98% and a return on equity of 15.38%. The firm had revenue of $720.99 million during the quarter, compared to analyst estimates of $687.80 million. During the same quarter in the previous year, the business posted $1.28 EPS. ESAB’s revenue was up 7.5% on a year-over-year basis. On average, equities analysts anticipate that ESAB Corporation will post 5.16 earnings per share for the current fiscal year.

ESAB Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 17th. Stockholders of record on Thursday, April 2nd will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.4%. The ex-dividend date is Thursday, April 2nd. ESAB’s dividend payout ratio is currently 10.81%.

Insider Buying and Selling at ESAB

In other news, CEO Shyam Kambeyanda sold 59,404 shares of the firm’s stock in a transaction on Monday, February 23rd. The stock was sold at an average price of $123.79, for a total value of $7,353,621.16. Following the completion of the sale, the chief executive officer owned 99,864 shares of the company’s stock, valued at $12,362,164.56. This trade represents a 37.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 7.30% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

ESAB has been the subject of several recent research reports. Wall Street Zen upgraded shares of ESAB from a “hold” rating to a “buy” rating in a report on Saturday. JPMorgan Chase & Co. increased their price objective on shares of ESAB from $130.00 to $153.00 and gave the company an “overweight” rating in a research note on Monday, February 23rd. Oppenheimer lifted their price objective on shares of ESAB from $142.00 to $148.00 and gave the company an “outperform” rating in a report on Friday, January 23rd. Stifel Nicolaus upped their target price on ESAB from $144.00 to $158.00 and gave the stock a “buy” rating in a report on Monday, February 23rd. Finally, Roth Mkm reaffirmed a “buy” rating and set a $146.00 target price (down from $150.00) on shares of ESAB in a research report on Tuesday, February 3rd. Six analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $145.25.

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.