ESAB (NYSE:ESAB) Reaches New 52-Week Low – Here’s Why

ESAB Corporation (NYSE:ESAB) shares hit a new 52-week low on Wednesday . The company traded as low as $93.10 and last traded at $95.5330, with a volume of 539209 shares. The stock had previously closed at $95.73.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Oppenheimer increased their target price on shares of ESAB from $142.00 to $148.00 and gave the company an “outperform” rating in a report on Friday, January 23rd. Wall Street Zen downgraded shares of ESAB from a “buy” rating to a “hold” rating in a research note on Saturday, March 21st. Roth Mkm reaffirmed a “buy” rating and set a $146.00 price objective (down from $150.00) on shares of ESAB in a research note on Tuesday, February 3rd. JPMorgan Chase & Co. lifted their price objective on ESAB from $130.00 to $153.00 and gave the stock an “overweight” rating in a report on Monday, February 23rd. Finally, Stifel Nicolaus boosted their target price on ESAB from $144.00 to $158.00 and gave the company a “buy” rating in a research note on Monday, February 23rd. Six investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $145.25.

ESAB Stock Down 5.2%

The company has a debt-to-equity ratio of 0.56, a current ratio of 1.90 and a quick ratio of 1.17. The stock has a market capitalization of $5.61 billion, a PE ratio of 24.98, a PEG ratio of 1.80 and a beta of 1.23. The company has a 50 day moving average price of $117.37 and a 200-day moving average price of $115.23.

ESAB (NYSE:ESAB) last announced its quarterly earnings results on Friday, February 20th. The company reported $1.35 EPS for the quarter, topping analysts’ consensus estimates of $1.34 by $0.01. The company had revenue of $687.00 million during the quarter, compared to analyst estimates of $687.80 million. ESAB had a return on equity of 15.38% and a net margin of 7.98%.The firm’s revenue was up 7.5% on a year-over-year basis. During the same quarter last year, the firm posted $1.28 earnings per share. As a group, analysts forecast that ESAB Corporation will post 5.16 earnings per share for the current fiscal year.

ESAB Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, April 17th. Stockholders of record on Thursday, April 2nd will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend is Thursday, April 2nd. ESAB’s dividend payout ratio (DPR) is currently 10.81%.

Insider Buying and Selling at ESAB

In related news, CEO Shyam Kambeyanda sold 59,404 shares of the business’s stock in a transaction dated Monday, February 23rd. The shares were sold at an average price of $123.79, for a total transaction of $7,353,621.16. Following 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 7.30% of the company’s stock.

Institutional Trading of ESAB

Several institutional investors and hedge funds have recently bought and sold shares of ESAB. Royal Bank of Canada raised its position in shares of ESAB by 29.4% in the 1st quarter. Royal Bank of Canada now owns 51,867 shares of the company’s stock worth $6,042,000 after acquiring an additional 11,772 shares in the last quarter. Millennium Management LLC bought a new stake in shares of ESAB during the first quarter valued at approximately $10,616,000. Goldman Sachs Group Inc. grew its stake in ESAB by 25.9% in the first quarter. Goldman Sachs Group Inc. now owns 458,339 shares of the company’s stock worth $53,396,000 after purchasing an additional 94,335 shares during the period. PNC Financial Services Group Inc. grew its stake in ESAB by 26.1% in the second quarter. PNC Financial Services Group Inc. now owns 2,325 shares of the company’s stock worth $280,000 after purchasing an additional 481 shares during the period. Finally, Cetera Investment Advisers raised its holdings in ESAB by 8.6% in the second quarter. Cetera Investment Advisers now owns 25,694 shares of the company’s stock worth $3,097,000 after purchasing an additional 2,028 shares in the last quarter. 91.13% of the stock is currently owned by hedge funds and other institutional investors.

ESAB Company 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.