Walleye Capital LLC Increases Holdings in ESAB Corporation $ESAB

Walleye Capital LLC increased its position in ESAB Corporation (NYSE:ESAB) by 506.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 30,399 shares of the company’s stock after buying an additional 25,386 shares during the quarter. Walleye Capital LLC’s holdings in ESAB were worth $2,938,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Thrivent Financial for Lutherans raised its stake in shares of ESAB by 0.7% during the second quarter. Thrivent Financial for Lutherans now owns 13,417 shares of the company’s stock worth $1,617,000 after acquiring an additional 95 shares in the last quarter. Public Employees Retirement System of Ohio lifted its holdings in shares of ESAB by 0.5% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 19,605 shares of the company’s stock worth $2,191,000 after acquiring an additional 107 shares during the last quarter. HB Wealth Management LLC boosted its stake in shares of ESAB by 5.0% in the 1st quarter. HB Wealth Management LLC now owns 2,479 shares of the company’s stock valued at $240,000 after purchasing an additional 118 shares in the last quarter. Coldstream Capital Management Inc. grew its holdings in shares of ESAB by 5.9% during the 3rd quarter. Coldstream Capital Management Inc. now owns 2,689 shares of the company’s stock valued at $300,000 after purchasing an additional 149 shares during the last quarter. Finally, Lafayette Investments Inc. grew its holdings in shares of ESAB by 0.5% during the 4th quarter. Lafayette Investments Inc. now owns 34,266 shares of the company’s stock valued at $3,828,000 after purchasing an additional 161 shares during the last quarter. Hedge funds and other institutional investors own 91.13% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on ESAB. Oppenheimer decreased their target price on shares of ESAB from $140.00 to $135.00 and set an “outperform” rating on the stock in a research report on Tuesday. DA Davidson initiated coverage on shares of ESAB in a research report on Monday, June 15th. They set a “buy” rating and a $130.00 price target for the company. Jefferies Financial Group reiterated a “buy” rating and issued a $130.00 price objective (down from $150.00) on shares of ESAB in a report on Tuesday, March 31st. Stifel Nicolaus lowered their target price on ESAB from $141.00 to $137.00 and set a “buy” rating for the company in a research note on Monday. Finally, Roth Capital increased their target price on ESAB from $142.00 to $151.00 and gave the company a “buy” rating in a report on Tuesday, July 7th. Eight analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $138.38.

ESAB Trading Down 0.3%

Shares of ESAB opened at $83.78 on Friday. The stock has a market capitalization of $5.10 billion, a P/E ratio of 24.79, a PEG ratio of 1.57 and a beta of 1.17. The company has a quick ratio of 2.26, a current ratio of 2.97 and a debt-to-equity ratio of 0.91. The firm has a fifty day simple moving average of $92.12 and a two-hundred day simple moving average of $104.40. ESAB Corporation has a twelve month low of $82.18 and a twelve month high of $137.42.

ESAB (NYSE:ESAB) last announced 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 firm had revenue of $745.60 million during 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%.ESAB’s revenue was up 10.0% on a year-over-year basis. During the same period last year, the business earned $1.25 EPS. On average, research analysts anticipate that ESAB Corporation will post 5.72 EPS for the current year.

ESAB Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 17th. Investors of record on Friday, July 3rd were paid a $0.12 dividend. The ex-dividend date of this dividend was Thursday, July 2nd. This is a boost from ESAB’s previous quarterly dividend of $0.10. This represents a $0.48 annualized dividend and a dividend yield of 0.6%. ESAB’s payout ratio is 14.20%.

ESAB 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.