ESAB Corporation $ESAB Stock Holdings Lifted by Diamond Hill Capital Management Inc.

Diamond Hill Capital Management Inc. grew its holdings in shares of ESAB Corporation (NYSE:ESAB) by 8.3% during the third quarter, Holdings Channel reports. The firm owned 168,668 shares of the company’s stock after purchasing an additional 12,894 shares during the period. Diamond Hill Capital Management Inc.’s holdings in ESAB were worth $18,847,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the business. Invesco Ltd. raised its holdings in ESAB by 1.6% during the second quarter. Invesco Ltd. now owns 2,123,958 shares of the company’s stock valued at $256,043,000 after buying an additional 33,015 shares in the last quarter. Champlain Investment Partners LLC lifted 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 worth $246,385,000 after purchasing an additional 114,744 shares during the last quarter. Durable Capital Partners LP boosted its position in ESAB by 41.5% during the second 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 during the period. Geode Capital Management LLC boosted its position in ESAB by 1.0% during the second 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 period. Finally, DAVENPORT & Co LLC grew its holdings in ESAB by 10.4% during the third quarter. DAVENPORT & Co LLC now owns 1,011,536 shares of the company’s stock valued at $113,029,000 after purchasing an additional 95,294 shares during the last quarter. 91.13% of the stock is owned by institutional investors and hedge funds.

ESAB Stock Up 5.2%

Shares of ESAB opened at $134.51 on Friday. The company has a quick ratio of 1.24, a current ratio of 1.99 and a debt-to-equity ratio of 0.62. The company has a 50-day moving average price of $116.63 and a two-hundred day moving average price of $116.14. The stock has a market cap of $8.17 billion, a price-to-earnings ratio of 33.88, a P/E/G ratio of 2.47 and a beta of 1.24. ESAB Corporation has a 12 month low of $100.17 and a 12 month high of $135.84.

ESAB Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, January 16th. Shareholders of record on Wednesday, December 31st were given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date was Wednesday, December 31st. ESAB’s dividend payout ratio is 10.08%.

Analysts Set New Price Targets

A number of research firms recently issued reports on ESAB. UBS Group raised their target price on shares of ESAB from $147.00 to $149.00 and gave the company a “buy” rating in a research note on Monday, October 20th. Oppenheimer lifted their price objective on ESAB from $142.00 to $148.00 and gave the stock an “outperform” rating in a research note on Friday, January 23rd. Stifel Nicolaus raised their target price on ESAB from $143.00 to $144.00 and gave the company a “buy” rating in a report on Friday, January 23rd. JPMorgan Chase & Co. reduced their price objective on ESAB from $138.00 to $130.00 and set an “overweight” rating for the company in a research report on Tuesday, February 3rd. Finally, Roth Mkm reiterated a “buy” rating and set a $146.00 target price (down from $150.00) on shares of ESAB in a research note on Tuesday. Seven analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, ESAB has an average rating of “Moderate Buy” and a consensus target price of $140.63.

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.