T. Rowe Price Investment Management Inc. Has $894.46 Million Position in ESAB Corporation $ESAB

T. Rowe Price Investment Management Inc. raised its stake in ESAB Corporation (NYSE:ESAB) by 0.6% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 8,006,238 shares of the company’s stock after buying an additional 45,841 shares during the quarter. T. Rowe Price Investment Management Inc. owned 13.19% of ESAB worth $894,457,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. FNY Investment Advisers LLC purchased a new position in shares of ESAB during the 3rd quarter valued at $30,000. Los Angeles Capital Management LLC acquired a new stake in ESAB during the fourth quarter valued at $33,000. Northwestern Mutual Wealth Management Co. boosted its position in ESAB by 109.4% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 333 shares of the company’s stock valued at $40,000 after purchasing an additional 174 shares during the last quarter. Smartleaf Asset Management LLC grew its stake in ESAB by 259.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 381 shares of the company’s stock valued at $43,000 after purchasing an additional 275 shares in the last quarter. Finally, Global Retirement Partners LLC grew its stake in ESAB by 3,023.1% in the fourth quarter. Global Retirement Partners LLC now owns 406 shares of the company’s stock valued at $45,000 after purchasing an additional 393 shares in the last quarter. Hedge funds and other institutional investors own 91.13% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on ESAB shares. JPMorgan Chase & Co. cut their price target on ESAB from $148.00 to $135.00 and set an “overweight” rating for the company in a research note on Friday, April 10th. Oppenheimer reissued an “outperform” rating and issued a $140.00 price target on shares of ESAB in a research note on Tuesday, April 14th. Wall Street Zen downgraded ESAB from a “buy” rating to a “hold” rating in a report on Saturday, March 21st. DA Davidson began coverage on shares of ESAB in a research report on Monday. They set a “buy” rating and a $130.00 price objective on the stock. Finally, Weiss Ratings cut shares of ESAB from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday, April 27th. Eight research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $138.38.

ESAB Trading Up 7.7%

Shares of NYSE:ESAB opened at $106.83 on Friday. The company has a current ratio of 2.97, a quick ratio of 2.26 and a debt-to-equity ratio of 0.91. The stock has a market capitalization of $6.50 billion, a PE ratio of 31.61, a P/E/G ratio of 1.82 and a beta of 1.19. ESAB Corporation has a 1 year low of $82.18 and a 1 year high of $137.42. The firm has a fifty day moving average price of $96.20 and a 200 day moving average price of $107.99.

ESAB (NYSE:ESAB) last posted its earnings results on Thursday, May 7th. The company reported $1.31 earnings per share 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 the consensus estimate of $706.74 million. ESAB had a net margin of 7.11% and a return on equity of 15.04%. ESAB’s quarterly revenue was up 10.0% on a year-over-year basis. During the same quarter last year, the business earned $1.25 earnings per share. Analysts expect that ESAB Corporation will post 5.82 EPS for the current fiscal year.

ESAB Increases Dividend

The business also recently announced 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. This is an increase from ESAB’s previous quarterly dividend of $0.10. The ex-dividend date is Thursday, July 2nd. This represents a $0.48 annualized dividend and a yield of 0.4%. ESAB’s dividend payout ratio is presently 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.