Pullen Investment Management LLC Makes New Investment in ESAB Corporation $ESAB

Pullen Investment Management LLC acquired a new stake in shares of ESAB Corporation (NYSE:ESAB) during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 24,528 shares of the company’s stock, valued at approximately $1,616,000.

Several other hedge funds also recently added to or reduced their stakes in the stock. BlackRock Inc. bought a new stake in shares of ESAB in the 2nd quarter worth about $524,533,000. Cooke & Bieler LP raised its stake in shares of ESAB by 73.3% in the 3rd quarter. Cooke & Bieler LP now owns 2,200,682 shares of the company’s stock valued at $144,981,000 after purchasing an additional 930,955 shares in the last quarter. Bessemer Group Inc. raised its stake in shares of ESAB by 16.3% in the 1st quarter. Bessemer Group Inc. now owns 1,225,702 shares of the company’s stock valued at $118,475,000 after purchasing an additional 171,926 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of ESAB by 2.9% during the first quarter. Dimensional Fund Advisors LP now owns 1,215,909 shares of the company’s stock worth $117,500,000 after purchasing an additional 34,383 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of ESAB by 21.7% during the first quarter. Bank of New York Mellon Corp now owns 984,297 shares of the company’s stock worth $95,142,000 after purchasing an additional 175,398 shares during the last quarter. 91.13% of the stock is owned by institutional investors and hedge funds.

ESAB Stock Up 0.1%

Shares of NYSE:ESAB opened at $66.99 on Monday. The stock has a market capitalization of $4.16 billion, a price-to-earnings ratio of 24.01, a price-to-earnings-growth ratio of 1.06 and a beta of 1.19. ESAB Corporation has a 1-year low of $62.74 and a 1-year high of $137.42. The company’s fifty day moving average is $70.96 and its two-hundred day moving average is $85.79. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.22 and a current ratio of 1.96.

ESAB (NYSE:ESAB) last posted its quarterly earnings results on Thursday, August 6th. The company reported $1.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.04). ESAB had a return on equity of 14.48% and a net margin of 5.75%. The business had revenue of $807.63 million during the quarter, compared to the consensus estimate of $755.64 million. During the same quarter in the previous year, the business posted $1.36 earnings per share. The company’s quarterly revenue was up 12.9% compared to the same quarter last year. ESAB has set its FY 2026 guidance at 5.400-5.500 EPS. Equities analysts anticipate that ESAB Corporation will post 5.40 EPS for the current year.

ESAB Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 16th. Investors of record on Friday, October 2nd were paid a dividend of $0.12 per share. The ex-dividend date was Friday, October 2nd. This represents a $0.48 annualized dividend and a yield of 0.7%. ESAB’s dividend payout ratio is 17.20%.

Insiders Place Their Bets

In other ESAB news, Director Rhonda L. Jordan sold 1,000 shares of the firm’s stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $95.00, for a total value of $95,000.00. Following the transaction, the director owned 1,000 shares of the company’s stock, valued at $95,000. This trade represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 7.20% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Weiss Ratings cut ESAB from a “hold (c)” rating to a “hold (c-)” rating in a research note on Tuesday, August 11th. JPMorgan Chase & Co. reduced their target price on ESAB from $125.00 to $95.00 and set an “overweight” rating on the stock in a report on Thursday, October 8th. Stifel Nicolaus set a $114.00 target price on ESAB in a research report on Monday, October 19th. Oppenheimer decreased their target price on ESAB from $135.00 to $110.00 and set an “outperform” rating for the company in a research report on Wednesday. Finally, Roth Capital reiterated a “buy” rating and issued a $133.00 price target (down from $151.00) on shares of ESAB in a report on Tuesday, September 15th. Six analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, ESAB has an average rating of “Moderate Buy” and an average price target of $118.67.

ESAB Company Profile

ESAB Corporation (NYSE: ESAB) is a global provider of welding and cutting technologies. The company develops and supplies equipment, consumables, automation solutions and related products used to join, cut and process metals across industrial and commercial applications.

Its product portfolio includes welding machines, cutting systems, welding electrodes and wires, filler metals, gas-control equipment, plasma and oxyfuel technologies, and digital or automated solutions. ESAB also offers products and services designed to support fabrication, manufacturing, construction, transportation, energy and maintenance operations.

ESAB serves customers in the Americas, Europe, the Middle East, Africa and the Asia-Pacific region through a portfolio of established brands and distribution channels.