ESAB (NYSE:ESAB) Reaches New 52-Week Low – Time to Sell?

ESAB Corporation (NYSE:ESAB) shares hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $93.69 and last traded at $95.3480, with a volume of 49562 shares changing hands. The stock had previously closed at $97.19.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on ESAB shares. Stifel Nicolaus lifted their price objective on shares of ESAB from $144.00 to $158.00 and gave the company a “buy” rating in a research report on Monday, February 23rd. Wall Street Zen raised shares of ESAB from a “hold” rating to a “buy” rating in a research note on Saturday, March 7th. Roth Mkm reiterated a “buy” rating and issued a $146.00 price target (down from $150.00) on shares of ESAB in a report on Tuesday, February 3rd. Oppenheimer boosted their price target on shares of ESAB from $142.00 to $148.00 and gave the stock an “outperform” rating in a research note on Friday, January 23rd. Finally, Weiss Ratings downgraded shares of ESAB from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, February 20th. 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, the company has a consensus rating of “Moderate Buy” and an average price target of $145.25.

ESAB Stock Down 1.1%

The business has a 50-day moving average price of $120.31 and a 200 day moving average price of $116.07. The company has a current ratio of 1.90, a quick ratio of 1.17 and a debt-to-equity ratio of 0.56. The stock has a market capitalization of $5.84 billion, a P/E ratio of 25.98, a P/E/G ratio of 1.84 and a beta of 1.23.

ESAB (NYSE:ESAB) last announced its quarterly earnings results 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. ESAB had a net margin of 7.98% and a return on equity of 15.38%. The company had revenue of $687.00 million for the quarter, compared to analysts’ expectations of $687.80 million. During the same quarter in the previous year, the business posted $1.28 earnings per share. ESAB’s quarterly revenue was up 7.5% on a year-over-year basis. On average, equities analysts expect that ESAB Corporation will post 5.16 EPS for the current fiscal year.

ESAB Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 17th. Stockholders of record on Thursday, April 2nd will be given 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

In related news, CEO Shyam Kambeyanda sold 59,404 shares of ESAB 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 owned 99,864 shares in the company, valued at approximately $12,362,164.56. This trade represents a 37.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 7.30% of the company’s stock.

Institutional Investors Weigh In On ESAB

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ESAB. Bessemer Group Inc. boosted its holdings in shares of ESAB by 6,787.0% in the 4th quarter. Bessemer Group Inc. now owns 1,053,776 shares of the company’s stock worth $117,730,000 after purchasing an additional 1,038,475 shares during the period. Norges Bank bought a new position in shares of ESAB during the 4th quarter valued at approximately $85,692,000. Capital Research Global Investors purchased a new stake in ESAB during the 4th quarter valued at $69,099,000. Price T Rowe Associates Inc. MD lifted its position in ESAB by 11.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,852,692 shares of the company’s stock worth $653,864,000 after buying an additional 613,327 shares during the last quarter. Finally, Durable Capital Partners LP boosted its stake in ESAB by 40.5% during the third quarter. Durable Capital Partners LP now owns 1,945,854 shares of the company’s stock worth $217,430,000 after buying an additional 560,678 shares during the period. 91.13% of the stock is currently owned by hedge funds and other institutional investors.

ESAB Company 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.