ESAB (NYSE:ESAB) Reaches New 12-Month High – Here’s Why

Shares of ESAB Corporation (NYSE:ESAB) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $136.40 and last traded at $133.9050, with a volume of 15753 shares traded. The stock had previously closed at $134.44.

Analyst Ratings Changes

A number of equities analysts have issued reports on ESAB shares. Stifel Nicolaus increased their target price on ESAB from $143.00 to $144.00 and gave the stock a “buy” rating in a report on Friday, January 23rd. Oppenheimer increased their price objective on ESAB from $142.00 to $148.00 and gave the stock an “outperform” rating in a report on Friday, January 23rd. Weiss Ratings upgraded ESAB from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, February 2nd. UBS Group upped their price target on ESAB from $147.00 to $149.00 and gave the stock a “buy” rating in a research report on Monday, October 20th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of ESAB from $138.00 to $130.00 and set an “overweight” rating on the stock in a report on Tuesday, February 3rd. Seven investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $140.63.

ESAB Price Performance

The stock has a market cap of $8.19 billion, a price-to-earnings ratio of 33.88, a price-to-earnings-growth ratio of 2.46 and a beta of 1.24. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.24 and a current ratio of 1.99. The company has a 50-day simple moving average of $117.59 and a two-hundred day simple moving average of $116.05.

ESAB Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 16th. Investors of record on Wednesday, December 31st were issued a dividend of $0.10 per share. 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 payout ratio is presently 10.08%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Invesco Ltd. increased its stake in shares of ESAB by 1.6% during the 2nd quarter. Invesco Ltd. now owns 2,123,958 shares of the company’s stock worth $256,043,000 after purchasing an additional 33,015 shares during the last quarter. Champlain Investment Partners LLC grew its holdings in ESAB by 5.9% during the second 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 period. Durable Capital Partners LP increased its position 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 last quarter. Geode Capital Management LLC raised its stake in ESAB by 1.3% in the fourth quarter. Geode Capital Management LLC now owns 1,318,269 shares of the company’s stock valued at $147,300,000 after buying an additional 16,466 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in shares of ESAB by 0.9% in the third quarter. Dimensional Fund Advisors LP now owns 1,145,744 shares of the company’s stock valued at $128,014,000 after buying an additional 10,765 shares during the last quarter. Institutional investors own 91.13% of the company’s stock.

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.