Teacher Retirement System of Texas Buys 44,877 Shares of ESAB Corporation $ESAB

Teacher Retirement System of Texas lifted its stake in shares of ESAB Corporation (NYSE:ESAB) by 33.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 177,428 shares of the company’s stock after purchasing an additional 44,877 shares during the quarter. Teacher Retirement System of Texas’ holdings in ESAB were worth $19,822,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. FNY Investment Advisers LLC bought a new stake in shares of ESAB during the 3rd quarter valued at $30,000. Northwestern Mutual Wealth Management Co. raised its stake 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 purchasing an additional 174 shares during the period. AlphaQuest LLC bought a new stake in shares of ESAB during the 3rd quarter valued at $58,000. Farther Finance Advisors LLC raised its stake in shares of ESAB by 60.4% during 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 during the period. Finally, Hantz Financial Services Inc. raised its stake in shares of ESAB by 59.5% during 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 during the period. 91.13% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO Shyam Kambeyanda sold 59,404 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer directly owned 99,864 shares in the company, valued at approximately $12,362,164.56. This represents a 37.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 7.20% of the company’s stock.

ESAB Price Performance

Shares of NYSE ESAB opened at $101.35 on Friday. The firm has a market capitalization of $6.17 billion, a P/E ratio of 27.39, a P/E/G ratio of 1.91 and a beta of 1.36. 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 stock’s 50-day simple moving average is $107.34 and its two-hundred day simple moving average is $113.62. ESAB Corporation has a twelve month low of $89.41 and a twelve month high of $137.42.

ESAB (NYSE:ESAB) last announced its earnings results on Friday, February 20th. The company reported $1.35 earnings per share for the quarter, topping analysts’ consensus estimates of $1.34 by $0.01. The business had revenue of $687.00 million for the quarter, compared to analyst estimates of $687.80 million. ESAB had a return on equity of 15.38% and a net margin of 7.98%.The company’s quarterly revenue was up 7.5% compared to the same quarter last year. During the same period in the prior year, the company earned $1.28 EPS. As a group, equities analysts anticipate that ESAB Corporation will post 5.82 EPS for the current fiscal year.

ESAB Dividend Announcement

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

Analysts Set New Price Targets

A number of analysts recently issued reports on ESAB shares. Roth Mkm set a $142.00 price objective on ESAB in a research note on Thursday, April 16th. DA Davidson decreased their target price on ESAB from $146.00 to $142.00 and set a “buy” rating on the stock in a research note on Thursday, April 16th. Stifel Nicolaus decreased their target price on ESAB from $158.00 to $138.00 and set a “buy” rating on the stock in a research note on Wednesday, April 8th. Wall Street Zen lowered ESAB from a “buy” rating to a “hold” rating in a research note on Saturday, March 21st. Finally, JPMorgan Chase & Co. decreased their target price on ESAB from $148.00 to $135.00 and set an “overweight” rating on the stock in a research note on Friday, April 10th. Eight analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, ESAB currently has an average rating of “Moderate Buy” and an average target price of $138.40.

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.