ESAB Corporation $ESAB Shares Bought by Interval Partners LP

Interval Partners LP raised its position in shares of ESAB Corporation (NYSE:ESAB) by 726.9% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 632,412 shares of the company’s stock after purchasing an additional 555,932 shares during the quarter. ESAB accounts for 1.2% of Interval Partners LP’s portfolio, making the stock its 15th largest position. Interval Partners LP owned approximately 1.04% of ESAB worth $70,666,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Royal Bank of Canada lifted its holdings in shares of ESAB by 29.4% during the first quarter. Royal Bank of Canada now owns 51,867 shares of the company’s stock worth $6,042,000 after purchasing an additional 11,772 shares during the period. Millennium Management LLC acquired a new position in ESAB in the 1st quarter worth approximately $10,616,000. Goldman Sachs Group Inc. raised its position in ESAB by 25.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 458,339 shares of the company’s stock worth $53,396,000 after buying an additional 94,335 shares during the last quarter. Savant Capital LLC raised its position in ESAB by 41.3% during the 2nd quarter. Savant Capital LLC now owns 6,854 shares of the company’s stock worth $826,000 after buying an additional 2,005 shares during the last quarter. Finally, Campbell & CO Investment Adviser LLC acquired a new stake in ESAB during the 2nd quarter valued at approximately $774,000. 91.13% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CEO Shyam Kambeyanda sold 59,404 shares of the company’s stock in a transaction that occurred on Monday, February 23rd. The stock was sold at an average price of $123.79, for a total transaction of $7,353,621.16. Following the completion of the transaction, the chief executive officer directly owned 99,864 shares of the company’s stock, valued at $12,362,164.56. This represents a 37.30% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 7.30% of the company’s stock.

ESAB Price Performance

Shares of NYSE ESAB opened at $97.89 on Friday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.90 and a quick ratio of 1.17. The stock has a market capitalization of $5.94 billion, a price-to-earnings ratio of 26.46, a PEG ratio of 1.91 and a beta of 1.23. The firm’s 50 day simple moving average is $121.31 and its 200-day simple moving average is $116.46. ESAB Corporation has a 12 month low of $97.54 and a 12 month high of $137.42.

ESAB (NYSE:ESAB) last posted its earnings results on Friday, February 20th. The company reported $1.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.34 by $0.02. The firm had revenue of $687.00 million during the quarter, compared to analysts’ expectations of $687.80 million. ESAB had a net margin of 7.98% and a return on equity of 15.38%. The business’s revenue was up 7.5% compared to the same quarter last year. During the same period in the previous year, the business posted $1.28 EPS. Analysts expect that ESAB Corporation will post 5.16 EPS for the current year.

ESAB Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research firms have recently commented on ESAB. Roth Mkm reaffirmed a “buy” rating and issued a $146.00 price objective (down from $150.00) on shares of ESAB in a report on Tuesday, February 3rd. Stifel Nicolaus raised their target price on shares of ESAB from $144.00 to $158.00 and gave the stock a “buy” rating in a report on Monday, February 23rd. Weiss Ratings downgraded shares of ESAB from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, February 20th. JPMorgan Chase & Co. upped their price target on shares of ESAB from $130.00 to $153.00 and gave the company an “overweight” rating in a report on Monday, February 23rd. Finally, Wall Street Zen raised ESAB from a “hold” rating to a “buy” rating in a research report on Saturday, March 7th. Six equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, ESAB currently has a consensus rating of “Moderate Buy” and an average price target 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.