Y Intercept Hong Kong Ltd Purchases 7,296 Shares of ESAB Corporation $ESAB

Y Intercept Hong Kong Ltd raised its holdings in shares of ESAB Corporation (NYSE:ESAB) by 52.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 21,280 shares of the company’s stock after acquiring an additional 7,296 shares during the period. Y Intercept Hong Kong Ltd’s holdings in ESAB were worth $2,057,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in ESAB. T. Rowe Price Investment Management Inc. grew its holdings in shares of ESAB by 0.6% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 8,006,238 shares of the company’s stock valued at $894,457,000 after purchasing an additional 45,841 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in ESAB by 11.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,852,692 shares of the company’s stock worth $653,864,000 after purchasing an additional 613,327 shares during the last quarter. Durable Capital Partners LP boosted 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 valued at $217,430,000 after buying an additional 560,678 shares during the period. Geode Capital Management LLC boosted its position in ESAB by 1.3% during 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 grew its stake in shares of ESAB by 3.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,181,526 shares of the company’s stock valued at $132,008,000 after buying an additional 35,782 shares during the last quarter. 91.13% of the stock is owned by hedge funds and other institutional investors.

ESAB Stock Performance

Shares of ESAB stock opened at $86.81 on Thursday. The firm has a market capitalization of $5.29 billion, a price-to-earnings ratio of 25.68, a PEG ratio of 1.72 and a beta of 1.17. The stock has a fifty day moving average of $94.39 and a 200 day moving average of $106.46. ESAB Corporation has a 52 week low of $82.18 and a 52 week high of $137.42. The company has a quick ratio of 2.26, a current ratio of 2.97 and a debt-to-equity ratio of 0.91.

ESAB (NYSE:ESAB) last issued its quarterly earnings data 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). ESAB had a net margin of 7.11% and a return on equity of 15.04%. The company had revenue of $745.60 million for the quarter, compared to analysts’ expectations of $706.74 million. During the same period in the previous year, the firm posted $1.25 earnings per share. The firm’s revenue for the quarter was up 10.0% compared to the same quarter last year. As a group, research analysts expect that ESAB Corporation will post 5.82 earnings per share for the current year.

ESAB Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 17th. Investors of record on Friday, July 3rd will be paid a $0.12 dividend. The ex-dividend date of this dividend is Thursday, July 2nd. This is an increase from ESAB’s previous quarterly dividend of $0.10. This represents a $0.48 dividend on an annualized basis and a yield of 0.6%. ESAB’s payout ratio is currently 14.20%.

Analyst Ratings Changes

ESAB has been the topic of a number of analyst reports. Wall Street Zen cut ESAB from a “buy” rating to a “hold” rating in a research note on Saturday, March 21st. Roth Capital raised their target price on shares of ESAB from $142.00 to $151.00 and gave the stock a “buy” rating in a report on Tuesday. Weiss Ratings downgraded shares of ESAB from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday, April 27th. DA Davidson assumed coverage on shares of ESAB in a report on Monday, June 15th. They set a “buy” rating and a $130.00 price target for the company. Finally, Jefferies Financial Group reissued a “buy” rating and set a $130.00 price target (down from $150.00) on shares of ESAB in a research report on Tuesday, March 31st. Eight equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, ESAB currently has an average rating of “Moderate Buy” and a consensus price target of $139.50.

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.