618,502 Shares in ESAB Corporation $ESAB Bought by Capital Research Global Investors

Capital Research Global Investors acquired a new position in shares of ESAB Corporation (NYSE:ESAB) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 618,502 shares of the company’s stock, valued at approximately $69,099,000. Capital Research Global Investors owned 1.02% of ESAB as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Los Angeles Capital Management LLC acquired a new stake in shares of ESAB during the fourth quarter worth $33,000. Daiwa Securities Group Inc. grew its stake in shares of ESAB by 3.5% during the fourth quarter. Daiwa Securities Group Inc. now owns 90,565 shares of the company’s stock worth $10,118,000 after purchasing an additional 3,066 shares during the period. State of Wyoming grew its stake in shares of ESAB by 9.3% during the fourth quarter. State of Wyoming now owns 4,779 shares of the company’s stock worth $534,000 after purchasing an additional 406 shares during the period. AXQ Capital LP boosted its position in shares of ESAB by 29.0% during the fourth quarter. AXQ Capital LP now owns 4,655 shares of the company’s stock worth $520,000 after purchasing an additional 1,047 shares in the last quarter. Finally, MUFG Securities EMEA plc bought a new position in shares of ESAB during the fourth quarter worth $11,507,000. 91.13% of the stock is owned by institutional investors and hedge funds.

ESAB Trading Up 0.6%

ESAB opened at $88.43 on Wednesday. The stock has a market capitalization of $5.38 billion, a P/E ratio of 26.16, a P/E/G ratio of 1.61 and a beta of 1.19. ESAB Corporation has a 12 month low of $83.17 and a 12 month high of $137.42. The firm’s fifty day simple moving average is $96.35 and its 200 day simple moving average is $108.67. The company has a current ratio of 2.97, a quick ratio of 2.26 and a debt-to-equity ratio of 0.91.

ESAB (NYSE:ESAB) last issued its quarterly earnings results on Thursday, May 7th. The company reported $1.31 EPS for the quarter, missing the consensus estimate of $1.32 by ($0.01). ESAB had a return on equity of 15.04% and a net margin of 7.11%.The business had revenue of $745.60 million for the quarter, compared to the consensus estimate of $706.74 million. During the same period last year, the firm earned $1.25 earnings per share. The company’s quarterly revenue was up 10.0% compared to the same quarter last year. As a group, research analysts anticipate that ESAB Corporation will post 5.81 EPS 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 given a dividend of $0.12 per share. This is a boost 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 annualized dividend and a yield of 0.5%. ESAB’s payout ratio is presently 11.83%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. Stifel Nicolaus set a $141.00 price target on shares of ESAB in a research report on Friday, May 8th. Weiss Ratings cut shares of ESAB from a “hold (c+)” rating to a “hold (c)” rating in a research report on Monday, April 27th. DA Davidson reduced their price target on shares of ESAB from $146.00 to $142.00 and set a “buy” rating on the stock in a research report on Thursday, April 16th. Wall Street Zen cut shares of ESAB from a “buy” rating to a “hold” rating in a research report on Saturday, March 21st. Finally, JPMorgan Chase & Co. reduced their price target on shares of ESAB from $148.00 to $135.00 and set an “overweight” rating on the stock in a research report on Friday, April 10th. Eight equities research 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 company has a consensus rating of “Moderate Buy” and a consensus target price of $139.88.

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.