Ceredex Value Advisors LLC Invests $11.40 Million in ESAB Corporation $ESAB

Ceredex Value Advisors LLC bought a new position in ESAB Corporation (NYSE:ESAB) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 102,050 shares of the company’s stock, valued at approximately $11,403,000. Ceredex Value Advisors LLC owned approximately 0.17% of ESAB at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vestcor Inc purchased a new stake in shares of ESAB during the 3rd quarter worth approximately $811,000. Swiss National Bank grew its holdings in shares of ESAB by 1.5% in the third quarter. Swiss National Bank now owns 111,600 shares of the company’s stock valued at $12,470,000 after purchasing an additional 1,600 shares in the last quarter. Russell Investments Group Ltd. increased its position in ESAB by 9.5% in the third quarter. Russell Investments Group Ltd. now owns 84,228 shares of the company’s stock worth $9,412,000 after purchasing an additional 7,286 shares during the last quarter. Dundas Partners LLP raised its stake in ESAB by 8.8% during the third quarter. Dundas Partners LLP now owns 4,224 shares of the company’s stock valued at $472,000 after purchasing an additional 340 shares in the last quarter. Finally, Gabelli Funds LLC raised its stake in ESAB by 1.0% during the third quarter. Gabelli Funds LLC now owns 28,467 shares of the company’s stock valued at $3,181,000 after purchasing an additional 268 shares in the last quarter. 91.13% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on ESAB. JPMorgan Chase & Co. lifted their price objective on shares of ESAB from $130.00 to $153.00 and gave the stock an “overweight” rating in a research note on Monday, February 23rd. Wall Street Zen upgraded ESAB from a “hold” rating to a “buy” rating in a research report on Saturday. Oppenheimer boosted their price objective on ESAB from $142.00 to $148.00 and gave the stock an “outperform” rating in a research note on Friday, January 23rd. Roth Mkm restated a “buy” rating and set a $146.00 price objective (down from $150.00) on shares of ESAB in a research report on Tuesday, February 3rd. Finally, Stifel Nicolaus raised their price objective on ESAB from $144.00 to $158.00 and gave the company a “buy” rating in a research note on Monday, February 23rd. Six research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $145.25.

Insider Activity

In related news, CEO Shyam Kambeyanda sold 59,404 shares of the business’s stock in a transaction on Monday, February 23rd. The stock was sold at an average price of $123.79, for a total transaction of $7,353,621.16. Following the completion of the transaction, the chief executive officer owned 99,864 shares in the company, valued at $12,362,164.56. The trade was a 37.30% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 7.30% of the company’s stock.

ESAB Price Performance

ESAB stock opened at $107.80 on Wednesday. The stock has a market cap of $6.55 billion, a PE ratio of 29.14, a P/E/G ratio of 1.97 and a beta of 1.23. ESAB Corporation has a 12 month low of $100.17 and a 12 month high of $137.42. The company has a 50-day moving average price of $121.84 and a 200 day moving average price of $116.74. The company has a current ratio of 1.90, a quick ratio of 1.17 and a debt-to-equity ratio of 0.56.

ESAB (NYSE:ESAB) last posted its quarterly earnings data on Friday, February 20th. The company reported $1.35 earnings per share for the quarter, topping analysts’ consensus estimates of $1.34 by $0.01. ESAB had a net margin of 7.98% and a return on equity of 15.38%. The company had revenue of $720.99 million for the quarter, compared to analyst estimates of $687.80 million. During the same period in the prior year, the company posted $1.28 EPS. The firm’s revenue for the quarter was up 7.5% on a year-over-year basis. Equities research analysts anticipate 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 will be paid on Friday, April 17th. Stockholders of record on Thursday, April 2nd will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.4%. The ex-dividend date is Thursday, April 2nd. ESAB’s dividend payout ratio is presently 10.81%.

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.