Tudor Investment Corp ET AL Decreases Holdings in ESAB Corporation $ESAB

Tudor Investment Corp ET AL decreased its position in ESAB Corporation (NYSE:ESAB) by 49.5% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 24,587 shares of the company’s stock after selling 24,138 shares during the quarter. Tudor Investment Corp ET AL’s holdings in ESAB were worth $2,747,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Northwestern Mutual Wealth Management Co. grew its position in ESAB by 109.4% during the second 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. AlphaQuest LLC bought a new stake in shares of ESAB in the 3rd quarter worth approximately $58,000. Farther Finance Advisors LLC boosted its stake in shares of ESAB by 60.4% in the 3rd quarter. Farther Finance Advisors LLC now owns 669 shares of the company’s stock valued at $75,000 after purchasing an additional 252 shares in the last quarter. Hantz Financial Services Inc. boosted its stake in shares of ESAB by 59.5% in the 3rd quarter. Hantz Financial Services Inc. now owns 681 shares of the company’s stock valued at $76,000 after purchasing an additional 254 shares in the last quarter. Finally, Danske Bank A S bought a new position in shares of ESAB during the 3rd quarter valued at $78,000. Hedge funds and other institutional investors own 91.13% of the company’s stock.

Wall Street Analyst Weigh In

ESAB has been the topic of a number of analyst reports. Oppenheimer lifted their target price on shares of ESAB from $142.00 to $148.00 and gave the stock an “outperform” rating in a research report on Friday, January 23rd. JPMorgan Chase & Co. raised their price objective on ESAB from $130.00 to $153.00 and gave the company an “overweight” rating in a research note on Monday, February 23rd. Roth Mkm reiterated 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. Weiss Ratings lowered ESAB from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, February 20th. Finally, Stifel Nicolaus increased their target price on ESAB from $144.00 to $158.00 and gave the company a “buy” rating in a report on Monday, February 23rd. Six analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $145.25.

Insider Transactions at ESAB

In related news, CEO Shyam Kambeyanda sold 59,404 shares of the business’s stock in a transaction dated 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 transaction, the chief executive officer owned 99,864 shares in the company, valued at $12,362,164.56. The trade was a 37.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 7.30% of the stock is currently owned by corporate insiders.

ESAB Trading Down 0.8%

NYSE:ESAB opened at $91.69 on Friday. The firm has a market capitalization of $5.57 billion, a P/E ratio of 24.78, a P/E/G ratio of 1.71 and a beta of 1.23. The company has a quick ratio of 1.17, a current ratio of 1.90 and a debt-to-equity ratio of 0.56. The company has a fifty day moving average of $116.77 and a 200 day moving average of $115.06. ESAB Corporation has a 52 week low of $89.70 and a 52 week high of $137.42.

ESAB (NYSE:ESAB) last announced its quarterly earnings results on Friday, February 20th. The company reported $1.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.34 by $0.01. ESAB had a net margin of 7.98% and a return on equity of 15.38%. The business had revenue of $687.00 million for the quarter, compared to analyst estimates of $687.80 million. During the same quarter last year, the firm earned $1.28 EPS. The company’s revenue was up 7.5% on a year-over-year basis. On average, research analysts predict that ESAB Corporation will post 5.16 earnings per share for the current year.

ESAB Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 17th. Investors of record on Thursday, April 2nd will be paid a $0.10 dividend. The ex-dividend date of this dividend is Thursday, April 2nd. This represents a $0.40 annualized dividend and a dividend yield of 0.4%. ESAB’s dividend payout ratio (DPR) is presently 10.81%.

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.