Dorsey Wright & Associates Raises Holdings in ESAB Corporation $ESAB

Dorsey Wright & Associates raised its position in ESAB Corporation (NYSE:ESAB) by 1.4% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 46,691 shares of the company’s stock after purchasing an additional 636 shares during the period. ESAB accounts for approximately 1.3% of Dorsey Wright & Associates’ portfolio, making the stock its 23rd biggest holding. Dorsey Wright & Associates owned approximately 0.08% of ESAB worth $5,629,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd acquired a new stake in shares of ESAB in the first quarter valued at about $33,000. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in ESAB by 706.7% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 363 shares of the company’s stock valued at $42,000 after acquiring an additional 318 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new stake in ESAB in the 2nd quarter valued at about $59,000. Quarry LP lifted its stake in ESAB by 637.2% in the 1st quarter. Quarry LP now owns 1,268 shares of the company’s stock worth $148,000 after purchasing an additional 1,096 shares in the last quarter. Finally, Cross Staff Investments Inc acquired a new position in shares of ESAB during the 2nd quarter worth approximately $201,000. Institutional investors and hedge funds own 91.13% of the company’s stock.

ESAB Stock Performance

Shares of ESAB stock opened at $107.15 on Wednesday. The firm has a market cap of $6.51 billion, a PE ratio of 26.99, a price-to-earnings-growth ratio of 2.08 and a beta of 1.23. The company has a quick ratio of 1.24, a current ratio of 1.99 and a debt-to-equity ratio of 0.62. ESAB Corporation has a 52 week low of $100.17 and a 52 week high of $135.84. The business’s fifty day simple moving average is $114.71 and its 200-day simple moving average is $119.82.

ESAB (NYSE:ESAB) last issued its quarterly earnings data on Wednesday, October 29th. The company reported $1.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.27 by $0.05. ESAB had a return on equity of 15.93% and a net margin of 8.70%.The firm had revenue of $727.85 million during the quarter, compared to the consensus estimate of $663.57 million. During the same period last year, the company earned $1.25 EPS. The company’s quarterly revenue was up 8.1% on a year-over-year basis. ESAB has set its FY 2025 guidance at 5.200-5.30 EPS. Equities analysts forecast that ESAB Corporation will post 5.16 earnings per share for the current year.

ESAB Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 17th. Stockholders of record on Friday, October 3rd were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.4%. The ex-dividend date was Friday, October 3rd. ESAB’s dividend payout ratio is currently 10.08%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Oppenheimer cut their price target on ESAB from $144.00 to $142.00 and set an “outperform” rating for the company in a report on Thursday, August 7th. Zacks Research downgraded ESAB from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 18th. Roth Capital started coverage on ESAB in a report on Friday, September 5th. They set a “buy” rating and a $150.00 price target on the stock. Loop Capital raised shares of ESAB from a “hold” rating to a “buy” rating and upped their price objective for the company from $130.00 to $140.00 in a report on Friday, August 22nd. Finally, Stifel Nicolaus upgraded shares of ESAB from a “hold” rating to a “buy” rating and set a $141.00 price objective for the company in a research report on Thursday, August 7th. Eight research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $143.33.

About ESAB

ESAB Corporation engages in the formulation, development, manufacture, and supply of consumable products and equipment for use in cutting, joining, automated welding, and gas control equipment. Its comprehensive range of welding consumables includes electrodes, cored and solid wires, and fluxes using a range of specialty and other materials; and cutting consumables comprising electrodes, nozzles, shields, and tips.