Intech Investment Management LLC Has $623,000 Stake in ESAB Corporation $ESAB

Intech Investment Management LLC increased its position in shares of ESAB Corporation (NYSE:ESAB) by 85.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,169 shares of the company’s stock after acquiring an additional 2,384 shares during the quarter. Intech Investment Management LLC’s holdings in ESAB were worth $623,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd acquired a new position in shares of ESAB in the 1st quarter valued at approximately $33,000. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in ESAB by 706.7% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 363 shares of the company’s stock worth $42,000 after buying an additional 318 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new position in ESAB in the second quarter valued at approximately $59,000. Quarry LP boosted its holdings in shares of ESAB by 637.2% in the first quarter. Quarry LP now owns 1,268 shares of the company’s stock valued at $148,000 after buying an additional 1,096 shares during the period. Finally, Cross Staff Investments Inc bought a new stake in shares of ESAB during the second quarter worth $201,000. Institutional investors own 91.13% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on ESAB shares. Loop Capital raised ESAB from a “hold” rating to a “buy” rating and lifted their target price for the company from $130.00 to $140.00 in a research report on Friday, August 22nd. Zacks Research cut shares of ESAB from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 18th. Stifel Nicolaus raised shares of ESAB from a “hold” rating to a “buy” rating and set a $141.00 price objective on the stock in a research report on Thursday, August 7th. Oppenheimer reduced their target price on shares of ESAB from $144.00 to $142.00 and set an “outperform” rating for the company in a report on Thursday, August 7th. Finally, Wall Street Zen raised shares of ESAB from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Eight research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $143.33.

ESAB Stock Performance

Shares of ESAB stock opened at $112.08 on Friday. ESAB Corporation has a 52 week low of $100.17 and a 52 week high of $135.84. The company has a market capitalization of $6.80 billion, a price-to-earnings ratio of 28.23, a PEG ratio of 2.17 and a beta of 1.23. The company has a 50-day simple moving average of $114.41 and a 200 day simple moving average of $119.11. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.24 and a current ratio of 1.99.

ESAB (NYSE:ESAB) last released its quarterly earnings results on Wednesday, October 29th. The company reported $1.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.27 by $0.05. ESAB had a return on equity of 15.93% and a net margin of 8.70%.The business had revenue of $727.85 million during the quarter, compared to the consensus estimate of $663.57 million. During the same period in the previous year, the company posted $1.25 EPS. The firm’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. On average, sell-side analysts predict that ESAB Corporation will post 5.16 earnings per share for the current year.

ESAB Announces Dividend

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

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.