ESAB Corporation $ESAB Stake Lessened by Interval Partners LP

Interval Partners LP lessened its stake in ESAB Corporation (NYSE:ESAB) by 45.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 347,819 shares of the company’s stock after selling 284,593 shares during the period. Interval Partners LP owned about 0.57% of ESAB worth $38,858,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Thrivent Financial for Lutherans increased 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 valued at $1,617,000 after purchasing an additional 95 shares during the last quarter. Xponance Inc. increased its stake in ESAB by 1.6% during the third quarter. Xponance Inc. now owns 6,488 shares of the company’s stock valued at $725,000 after purchasing an additional 102 shares during the last quarter. Public Employees Retirement System of Ohio increased 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 valued at $2,191,000 after purchasing an additional 107 shares during the last quarter. Coldstream Capital Management Inc. increased 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 valued at $300,000 after purchasing an additional 149 shares during the last quarter. Finally, Lafayette Investments Inc. increased its stake in ESAB by 0.5% during the fourth quarter. Lafayette Investments Inc. now owns 34,266 shares of the company’s stock valued at $3,828,000 after purchasing an additional 161 shares during the last quarter. Institutional investors own 91.13% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on ESAB. Roth Mkm set a $142.00 target price on shares of ESAB in a research note on Thursday, April 16th. Stifel Nicolaus set a $141.00 target price on shares of ESAB in a research note on Friday, May 8th. Jefferies Financial Group reiterated a “buy” rating and set a $130.00 target price (down from $150.00) on shares of ESAB in a research note on Tuesday, March 31st. JPMorgan Chase & Co. lowered their target price on shares of ESAB from $148.00 to $135.00 and set an “overweight” rating for the company in a research note on Friday, April 10th. Finally, Weiss Ratings lowered shares of ESAB from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday, April 27th. Eight analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $138.38.

ESAB Stock Down 3.1%

ESAB stock opened at $99.34 on Thursday. The company has a 50-day simple moving average of $95.95 and a 200-day simple moving average of $108.03. The firm has a market capitalization of $6.05 billion, a P/E ratio of 29.39, a P/E/G ratio of 1.88 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 one year low of $82.18 and a one year high of $137.42.

ESAB (NYSE:ESAB) last released 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). The firm had revenue of $745.60 million for the quarter, compared to the consensus estimate of $706.74 million. ESAB had a return on equity of 15.04% and a net margin of 7.11%.The firm’s revenue was up 10.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.25 EPS. As a group, equities analysts expect that ESAB Corporation will post 5.81 earnings per share for the current year.

ESAB Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 17th. Stockholders of record on Friday, July 3rd will be given a dividend of $0.12 per share. This is an increase from ESAB’s previous quarterly dividend of $0.10. This represents a $0.48 annualized dividend and a dividend yield of 0.5%. The ex-dividend date is Thursday, July 2nd. ESAB’s payout ratio is currently 11.83%.

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.