Kennedy Capital Management LLC Sells 8,603 Shares of ESAB Corporation $ESAB

Kennedy Capital Management LLC cut its holdings in shares of ESAB Corporation (NYSE:ESAB) by 6.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 118,714 shares of the company’s stock after selling 8,603 shares during the period. Kennedy Capital Management LLC owned about 0.20% of ESAB worth $13,263,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Thrivent Financial for Lutherans lifted its stake in 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 purchasing an additional 95 shares during the last quarter. Xponance Inc. lifted its stake in ESAB by 1.6% during the third quarter. Xponance Inc. now owns 6,488 shares of the company’s stock worth $725,000 after purchasing an additional 102 shares during the last quarter. Public Employees Retirement System of Ohio lifted its stake in ESAB by 0.5% during the third quarter. Public Employees Retirement System of Ohio now owns 19,605 shares of the company’s stock worth $2,191,000 after purchasing an additional 107 shares during the last quarter. Coldstream Capital Management Inc. lifted its stake in ESAB by 5.9% during the third quarter. Coldstream Capital Management Inc. now owns 2,689 shares of the company’s stock worth $300,000 after purchasing an additional 149 shares during the last quarter. Finally, Lafayette Investments Inc. lifted its stake in ESAB by 0.5% during the fourth quarter. Lafayette Investments Inc. now owns 34,266 shares of the company’s stock worth $3,828,000 after purchasing an additional 161 shares during the last quarter. 91.13% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. DA Davidson cut their target price on ESAB from $146.00 to $142.00 and set a “buy” rating for the company in a research note on Thursday, April 16th. Weiss Ratings downgraded shares of ESAB from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, April 27th. JPMorgan Chase & Co. lowered their price target on shares of ESAB from $148.00 to $135.00 and set an “overweight” rating for the company in a report on Friday, April 10th. Oppenheimer reiterated an “outperform” rating and set a $140.00 price target on shares of ESAB in a report on Tuesday, April 14th. Finally, Stifel Nicolaus set a $141.00 price target on shares of ESAB in a report on Friday, May 8th. 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 presently has a consensus rating of “Moderate Buy” and a consensus target price of $139.88.

ESAB Stock Down 0.1%

Shares of NYSE:ESAB opened at $91.46 on Monday. The company has a fifty day moving average of $95.84 and a 200-day moving average of $108.29. The company has a market capitalization of $5.57 billion, a PE ratio of 27.06, a price-to-earnings-growth ratio of 1.68 and a beta of 1.19. The company has a debt-to-equity ratio of 0.91, a quick ratio of 2.26 and a current ratio of 2.97. ESAB Corporation has a 52-week low of $82.18 and a 52-week 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 the consensus estimate of $1.32 by ($0.01). The company had revenue of $745.60 million for the quarter, compared to analyst estimates of $706.74 million. ESAB had a return on equity of 15.04% and a net margin of 7.11%.The firm’s quarterly revenue was up 10.0% on a year-over-year basis. During the same quarter last year, the company posted $1.25 earnings per share. On average, equities analysts predict that ESAB Corporation will post 5.81 EPS for the current fiscal year.

ESAB Increases Dividend

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

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.