ESAB (NYSE:ESAB) Reaches New 52-Week Low – Time to Sell?

ESAB Corporation (NYSE:ESAB)’s share price reached a new 52-week low on Wednesday . The company traded as low as $93.10 and last traded at $95.5330, with a volume of 539209 shares traded. The stock had previously closed at $95.73.

Wall Street Analyst Weigh In

A number of research firms have issued reports on ESAB. Wall Street Zen lowered ESAB from a “buy” rating to a “hold” rating in a research report on Saturday. Oppenheimer increased their price objective on shares of ESAB from $142.00 to $148.00 and gave the company an “outperform” rating in a research report on Friday, January 23rd. Weiss Ratings lowered ESAB from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, February 20th. JPMorgan Chase & Co. upped their price objective on ESAB from $130.00 to $153.00 and gave the stock an “overweight” rating in a research report on Monday, February 23rd. Finally, Stifel Nicolaus boosted their target price on ESAB from $144.00 to $158.00 and gave the stock a “buy” rating in a research note on Monday, February 23rd. Six equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $145.25.

ESAB Stock Performance

The stock has a fifty day moving average of $118.41 and a 200-day moving average of $115.52. The company has a quick ratio of 1.17, a current ratio of 1.90 and a debt-to-equity ratio of 0.56. The stock has a market cap of $5.80 billion, a PE ratio of 25.82, a price-to-earnings-growth ratio of 1.77 and a beta of 1.23.

ESAB (NYSE:ESAB) last released its earnings results on Friday, February 20th. The company reported $1.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.34 by $0.02. ESAB had a return on equity of 15.38% and a net margin of 7.98%.The business had revenue of $687.00 million for the quarter, compared to analyst estimates of $687.80 million. During the same quarter in the previous year, the company posted $1.28 earnings per share. The company’s revenue for the quarter was up 7.5% compared to the same quarter last year. On average, equities analysts forecast that ESAB Corporation will post 5.16 EPS for the current year.

ESAB Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 17th. Investors of record on Thursday, April 2nd will be given a $0.10 dividend. The ex-dividend date is Thursday, April 2nd. This represents a $0.40 dividend on an annualized basis and a yield of 0.4%. ESAB’s dividend payout ratio (DPR) is presently 10.81%.

Insider Transactions at ESAB

In other ESAB news, CEO Shyam Kambeyanda sold 59,404 shares of the firm’s stock in a transaction on Monday, February 23rd. The stock was sold at an average price of $123.79, for a total value of $7,353,621.16. Following the completion of the sale, the chief executive officer owned 99,864 shares of the company’s stock, valued at approximately $12,362,164.56. This trade represents a 37.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 7.30% of the company’s stock.

Hedge Funds Weigh In On ESAB

Hedge funds have recently bought and sold shares of the company. Diamond Hill Capital Management Inc. raised its position in ESAB by 8.3% during the third quarter. Diamond Hill Capital Management Inc. now owns 168,668 shares of the company’s stock worth $18,847,000 after acquiring an additional 12,894 shares during the last quarter. Van Berkom & Associates Inc. increased its position in ESAB by 28.6% during the third quarter. Van Berkom & Associates Inc. now owns 716,405 shares of the company’s stock worth $80,051,000 after buying an additional 159,539 shares in the last quarter. Advantage Alpha Capital Partners LP lifted its position in shares of ESAB by 56.4% in the second quarter. Advantage Alpha Capital Partners LP now owns 26,644 shares of the company’s stock valued at $3,212,000 after acquiring an additional 9,608 shares in the last quarter. Daiwa Securities Group Inc. increased its position in ESAB by 82.1% during the 2nd quarter. Daiwa Securities Group Inc. now owns 39,739 shares of the company’s stock worth $4,791,000 after purchasing an additional 17,911 shares in the last quarter. Finally, Confluence Investment Management LLC purchased a new position in ESAB in the 4th quarter valued at about $998,000. 91.13% of the stock is owned by hedge funds and other institutional investors.

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.