Roubaix Capital LLC Invests $5.02 Million in ESAB Corporation $ESAB

Roubaix Capital LLC acquired a new stake in ESAB Corporation (NYSE:ESAB) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 51,928 shares of the company’s stock, valued at approximately $5,019,000. ESAB makes up about 2.3% of Roubaix Capital LLC’s holdings, making the stock its 21st biggest position.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. FNY Investment Advisers LLC acquired a new position in ESAB during the 3rd quarter worth about $30,000. Los Angeles Capital Management LLC purchased a new position in ESAB during the 4th quarter valued at about $33,000. Northwestern Mutual Wealth Management Co. grew its position in ESAB by 109.4% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 333 shares of the company’s stock valued at $40,000 after acquiring an additional 174 shares in the last quarter. Smartleaf Asset Management LLC grew its position in ESAB by 259.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 381 shares of the company’s stock valued at $43,000 after acquiring an additional 275 shares in the last quarter. Finally, Global Retirement Partners LLC increased its stake in ESAB by 3,023.1% during the fourth quarter. Global Retirement Partners LLC now owns 406 shares of the company’s stock worth $45,000 after purchasing an additional 393 shares during the period. Hedge funds and other institutional investors own 91.13% of the company’s stock.

ESAB Price Performance

Shares of NYSE ESAB opened at $89.77 on Friday. The stock’s 50-day moving average is $92.84 and its two-hundred day moving average is $105.25. The company has a debt-to-equity ratio of 0.91, a current ratio of 2.97 and a quick ratio of 2.26. ESAB Corporation has a 1-year low of $82.18 and a 1-year high of $137.42. The company has a market cap of $5.47 billion, a price-to-earnings ratio of 26.56, a price-to-earnings-growth ratio of 1.65 and a beta of 1.17.

ESAB (NYSE:ESAB) last posted its quarterly earnings results on Thursday, May 7th. The company reported $1.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.01). The company had revenue of $745.60 million during the quarter, compared to analyst estimates of $706.74 million. ESAB had a net margin of 7.11% and a return on equity of 15.04%. ESAB’s revenue for the quarter was up 10.0% on a year-over-year basis. During the same period in the prior year, the business earned $1.25 EPS. Analysts forecast that ESAB Corporation will post 5.79 EPS for the current fiscal year.

ESAB Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 17th. Investors of record on Friday, July 3rd were paid a dividend of $0.12 per share. The ex-dividend date was Thursday, July 2nd. This is a positive change 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%. ESAB’s payout ratio is currently 14.20%.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Oppenheimer reissued an “outperform” rating and set a $140.00 price target on shares of ESAB in a research report on Tuesday, April 14th. Stifel Nicolaus set a $141.00 price objective on shares of ESAB in a report on Friday, May 8th. Roth Capital upped their target price on shares of ESAB from $142.00 to $151.00 and gave the stock a “buy” rating in a research note on Tuesday, July 7th. JPMorgan Chase & Co. reduced their target price on shares of ESAB from $148.00 to $135.00 and set an “overweight” rating on the stock in a report on Friday, April 10th. Finally, Wall Street Zen cut shares of ESAB from a “buy” rating to a “hold” rating in a research report on Saturday, March 21st. Eight investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $139.50.

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.