SG Americas Securities LLC Raises Stock Holdings in ESAB Corporation $ESAB

SG Americas Securities LLC raised its stake in ESAB Corporation (NYSE:ESAB) by 50.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 20,881 shares of the company’s stock after buying an additional 6,988 shares during the quarter. SG Americas Securities LLC’s holdings in ESAB were worth $2,018,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of ESAB. Royal Bank of Canada lifted its holdings in shares of ESAB by 29.4% in the 1st quarter. Royal Bank of Canada now owns 51,867 shares of the company’s stock worth $6,042,000 after acquiring an additional 11,772 shares during the last quarter. Millennium Management LLC purchased a new stake in ESAB in the first quarter valued at approximately $10,616,000. Goldman Sachs Group Inc. lifted its stake in ESAB by 25.9% during the first quarter. Goldman Sachs Group Inc. now owns 458,339 shares of the company’s stock worth $53,396,000 after purchasing an additional 94,335 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in shares of ESAB by 109.4% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 333 shares of the company’s stock worth $40,000 after buying an additional 174 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its position in shares of ESAB by 183.4% during the second quarter. EverSource Wealth Advisors LLC now owns 972 shares of the company’s stock worth $117,000 after buying an additional 629 shares during the period. Hedge funds and other institutional investors own 91.13% of the company’s stock.

ESAB Stock Performance

Shares of ESAB opened at $93.75 on Thursday. ESAB Corporation has a 1 year low of $82.18 and a 1 year high of $137.42. The stock has a market capitalization of $5.71 billion, a PE ratio of 27.74, a PEG ratio of 1.81 and a beta of 1.17. The company has a debt-to-equity ratio of 0.91, a quick ratio of 2.26 and a current ratio of 2.97. The stock has a 50-day simple moving average of $95.44 and a 200-day simple moving average of $107.22.

ESAB (NYSE:ESAB) last issued its earnings results on Thursday, May 7th. The company reported $1.31 earnings per share for the quarter, missing the consensus estimate of $1.32 by ($0.01). ESAB had a net margin of 7.11% and a return on equity of 15.04%. The firm had revenue of $745.60 million during the quarter, compared to analyst estimates of $706.74 million. During the same period last year, the business earned $1.25 EPS. The firm’s revenue was up 10.0% compared to the same quarter last year. On average, analysts predict that ESAB Corporation will post 5.82 earnings per share for the current fiscal year.

ESAB Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 17th. Shareholders of record on Friday, July 3rd will be issued a dividend of $0.12 per share. This is a positive change from ESAB’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend is Thursday, July 2nd. This represents a $0.48 dividend on an annualized basis and a yield of 0.5%. ESAB’s dividend payout ratio (DPR) is presently 11.83%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Stifel Nicolaus set a $141.00 target price on ESAB in a research note on Friday, May 8th. Oppenheimer reaffirmed an “outperform” rating and issued a $140.00 target price on shares of ESAB in a research report on Tuesday, April 14th. Weiss Ratings cut shares of ESAB from a “hold (c+)” rating to a “hold (c)” rating in a research report on Monday, April 27th. Wall Street Zen cut shares of ESAB from a “buy” rating to a “hold” rating in a report on Saturday, March 21st. Finally, JPMorgan Chase & Co. cut their target price on shares of ESAB from $148.00 to $135.00 and set an “overweight” rating on the stock in a research note on Friday, April 10th. Eight investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, ESAB has a consensus rating of “Moderate Buy” and an average target price of $138.38.

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.