Fox Run Management L.L.C. Purchases Shares of 9,497 ESAB Corporation $ESAB

Fox Run Management L.L.C. purchased a new stake in ESAB Corporation (NYSE:ESAB) during the fourth quarter, HoldingsChannel.com reports. The firm purchased 9,497 shares of the company’s stock, valued at approximately $1,061,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ESAB. FNY Investment Advisers LLC acquired a new position in ESAB in the third quarter valued at about $30,000. Los Angeles Capital Management LLC acquired a new position in ESAB in the fourth quarter valued at about $33,000. Northwestern Mutual Wealth Management Co. boosted its position in ESAB by 109.4% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 333 shares of the company’s stock valued at $40,000 after buying an additional 174 shares in the last quarter. Global Retirement Partners LLC boosted its position in ESAB by 3,023.1% in the fourth quarter. Global Retirement Partners LLC now owns 406 shares of the company’s stock valued at $45,000 after buying an additional 393 shares in the last quarter. Finally, AlphaQuest LLC acquired a new position in ESAB in the third quarter valued at about $58,000. 91.13% of the stock is currently owned by institutional investors and hedge funds.

ESAB Price Performance

Shares of ESAB stock opened at $88.43 on Wednesday. ESAB Corporation has a 1 year low of $83.17 and a 1 year high of $137.42. The firm’s 50 day moving average is $96.35 and its 200-day moving average is $108.67. The firm has a market capitalization of $5.38 billion, a price-to-earnings ratio of 26.16, a PEG ratio of 1.61 and a beta of 1.19. The company has a current ratio of 2.97, a quick ratio of 2.26 and a debt-to-equity ratio of 0.91.

ESAB (NYSE:ESAB) last posted its quarterly earnings results on Thursday, May 7th. The company reported $1.31 earnings per share for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.01). The business had revenue of $745.60 million for the quarter, compared to the consensus estimate of $706.74 million. ESAB had a return on equity of 15.04% and a net margin of 7.11%.The company’s quarterly revenue was up 10.0% on a year-over-year basis. During the same period last year, the firm earned $1.25 earnings per share. Sell-side analysts forecast that ESAB Corporation will post 5.81 EPS for the current fiscal year.

ESAB Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 17th. Investors of record on Friday, July 3rd will be paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.5%. This is a positive change from ESAB’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend is Thursday, July 2nd. ESAB’s payout ratio is presently 11.83%.

Analyst Upgrades and Downgrades

ESAB has been the topic of a number of research reports. Roth Mkm set a $142.00 target price on shares of ESAB in a research report on Thursday, April 16th. Stifel Nicolaus set a $141.00 target price on shares of ESAB in a research report on Friday, May 8th. Wall Street Zen lowered shares of ESAB from a “buy” rating to a “hold” rating in a research report on Saturday, March 21st. Weiss Ratings lowered shares of ESAB from a “hold (c+)” rating to a “hold (c)” rating in a research report on Monday, April 27th. Finally, Jefferies Financial Group reiterated a “buy” rating and set a $130.00 target price (down from $150.00) on shares of ESAB in a research report on Tuesday, March 31st. Eight equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, ESAB has an average rating of “Moderate Buy” and an average target price of $139.88.

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.