Bessemer Group Inc. Purchases 171,926 Shares of ESAB Corporation $ESAB

Bessemer Group Inc. grew its position in shares of ESAB Corporation (NYSE:ESAB) by 16.3% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,225,702 shares of the company’s stock after acquiring an additional 171,926 shares during the quarter. Bessemer Group Inc.’s holdings in ESAB were worth $118,475,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in ESAB. FNY Investment Advisers LLC bought a new stake in shares of ESAB in the third quarter worth $30,000. Los Angeles Capital Management LLC acquired a new position in ESAB during the fourth quarter worth $33,000. Northwestern Mutual Wealth Management Co. grew 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 purchasing an additional 174 shares in the last quarter. Smartleaf Asset Management LLC grew its position in ESAB by 259.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 381 shares of the company’s stock valued at $43,000 after purchasing an additional 275 shares in the last quarter. Finally, Global Retirement Partners LLC increased its stake in ESAB by 3,023.1% in the 4th quarter. Global Retirement Partners LLC now owns 406 shares of the company’s stock valued at $45,000 after buying an additional 393 shares during the last quarter. 91.13% of the stock is owned by institutional investors.

ESAB Stock Performance

ESAB opened at $89.77 on Friday. ESAB Corporation has a 12-month low of $82.18 and a 12-month high of $137.42. The stock has a market cap of $5.47 billion, a price-to-earnings ratio of 26.56, a PEG ratio of 1.69 and a beta of 1.17. The business has a 50 day moving average of $92.84 and a 200-day moving average of $105.25. The company has a quick ratio of 2.26, a current ratio of 2.97 and a debt-to-equity ratio of 0.91.

ESAB (NYSE:ESAB) last posted its 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). ESAB had a return on equity of 15.04% and a net margin of 7.11%.The business had revenue of $745.60 million for the quarter, compared to analyst estimates of $706.74 million. During the same period in the previous year, the firm posted $1.25 earnings per share. The firm’s revenue was up 10.0% compared to the same quarter last year. On average, equities research analysts expect that ESAB Corporation will post 5.79 earnings per share for the current year.

ESAB Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 17th. Stockholders of record on Friday, July 3rd were issued a dividend of $0.12 per share. This is a boost from ESAB’s previous quarterly dividend of $0.10. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date was Thursday, July 2nd. ESAB’s dividend payout ratio is presently 14.20%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on ESAB shares. Weiss Ratings downgraded shares of ESAB from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday, April 27th. Roth Capital upped their target price on ESAB from $142.00 to $151.00 and gave the stock a “buy” rating in a report on Tuesday, July 7th. Wall Street Zen cut ESAB from a “buy” rating to a “hold” rating in a research report on Saturday, March 21st. Jefferies Financial Group restated a “buy” rating and issued a $130.00 price target (down from $150.00) on shares of ESAB in a research note on Tuesday, March 31st. Finally, JPMorgan Chase & Co. lowered their price target on ESAB from $148.00 to $135.00 and set an “overweight” rating on the stock in a research report on Friday, April 10th. Eight research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, ESAB presently has a consensus rating of “Moderate Buy” and an average target price of $139.50.

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.