ESAB Corporation $ESAB Shares Bought by Interval Partners LP

Interval Partners LP raised its holdings in shares of ESAB Corporation (NYSE:ESAB) by 726.9% in the third quarter, Holdings Channel.com reports. The institutional investor owned 632,412 shares of the company’s stock after purchasing an additional 555,932 shares during the quarter. ESAB comprises about 1.2% of Interval Partners LP’s holdings, making the stock its 15th biggest position. Interval Partners LP’s holdings in ESAB were worth $70,666,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Invesco Ltd. grew its stake in ESAB by 1.6% during the 2nd quarter. Invesco Ltd. now owns 2,123,958 shares of the company’s stock valued at $256,043,000 after acquiring an additional 33,015 shares in the last quarter. Champlain Investment Partners LLC raised its holdings in ESAB by 5.9% in the 2nd quarter. Champlain Investment Partners LLC now owns 2,043,843 shares of the company’s stock valued at $246,385,000 after acquiring an additional 114,744 shares during the last quarter. Durable Capital Partners LP lifted its stake in ESAB by 41.5% in the 2nd quarter. Durable Capital Partners LP now owns 1,385,176 shares of the company’s stock worth $166,983,000 after purchasing an additional 406,057 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of ESAB by 1.0% during the 2nd quarter. Geode Capital Management LLC now owns 1,272,604 shares of the company’s stock worth $153,432,000 after purchasing an additional 12,660 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of ESAB by 0.9% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,145,744 shares of the company’s stock worth $128,014,000 after purchasing an additional 10,765 shares during the last quarter. 91.13% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at ESAB

In other news, CEO Shyam Kambeyanda sold 59,404 shares of the stock in a transaction 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 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 SEC, which can be accessed through this hyperlink. Corporate insiders own 7.30% of the company’s stock.

ESAB Stock Down 5.5%

ESAB stock opened at $97.89 on Friday. The firm has a market cap of $5.94 billion, a PE ratio of 26.46, a PEG ratio of 1.91 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 firm’s 50 day moving average price is $121.31 and its 200-day moving average price is $116.46. ESAB Corporation has a one year low of $97.54 and a one year high of $137.42.

ESAB (NYSE:ESAB) last issued its quarterly earnings data on Friday, February 20th. The company reported $1.36 earnings per share for the quarter, topping the consensus estimate of $1.34 by $0.02. The company had revenue of $687.00 million during 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 firm’s revenue for the quarter was up 7.5% compared to the same quarter last year. During the same period in the prior year, the business posted $1.28 earnings per share. On average, equities research analysts anticipate 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. Stockholders of record on Thursday, April 2nd will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend is Thursday, April 2nd. ESAB’s dividend payout ratio is 10.81%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on ESAB shares. Weiss Ratings cut ESAB from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, February 20th. Stifel Nicolaus boosted their price objective on ESAB from $144.00 to $158.00 and gave the stock a “buy” rating in a research note on Monday, February 23rd. Wall Street Zen upgraded ESAB from a “hold” rating to a “buy” rating in a report on Saturday, March 7th. JPMorgan Chase & Co. raised their target price on ESAB from $130.00 to $153.00 and gave the stock an “overweight” rating in a research note on Monday, February 23rd. Finally, Oppenheimer lifted their price target on ESAB from $142.00 to $148.00 and gave the stock an “outperform” rating in a report on Friday, January 23rd. Six research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $145.25.

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.