Tudor Investment Corp ET AL Sells 24,138 Shares of ESAB Corporation $ESAB

Tudor Investment Corp ET AL cut its stake in ESAB Corporation (NYSE:ESAB) by 49.5% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 24,587 shares of the company’s stock after selling 24,138 shares during the quarter. Tudor Investment Corp ET AL’s holdings in ESAB were worth $2,747,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ESAB. Invesco Ltd. boosted its stake in ESAB by 1.6% in the 2nd quarter. Invesco Ltd. now owns 2,123,958 shares of the company’s stock worth $256,043,000 after purchasing an additional 33,015 shares during the period. Durable Capital Partners LP increased its position in shares of ESAB by 40.5% during the third quarter. Durable Capital Partners LP now owns 1,945,854 shares of the company’s stock valued at $217,430,000 after buying an additional 560,678 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of ESAB by 0.9% in the third quarter. Dimensional Fund Advisors LP now owns 1,145,744 shares of the company’s stock worth $128,014,000 after buying an additional 10,765 shares in the last quarter. DAVENPORT & Co LLC lifted its holdings in shares of ESAB by 10.4% in the third quarter. DAVENPORT & Co LLC now owns 1,011,536 shares of the company’s stock worth $113,029,000 after buying an additional 95,294 shares in the last quarter. Finally, Cooke & Bieler LP boosted its position in shares of ESAB by 64.3% in the third quarter. Cooke & Bieler LP now owns 996,533 shares of the company’s stock valued at $111,353,000 after acquiring an additional 390,104 shares during the period. 91.13% of the stock is currently owned by institutional investors.

Insider Transactions at ESAB

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

ESAB Stock Down 0.8%

ESAB stock opened at $91.69 on Friday. The company’s 50 day moving average is $116.77 and its 200 day moving average is $115.06. The stock has a market cap of $5.57 billion, a price-to-earnings ratio of 24.78, a price-to-earnings-growth ratio of 1.71 and a beta of 1.23. 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 Corporation has a 1-year low of $89.70 and a 1-year high of $137.42.

ESAB (NYSE:ESAB) last released 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 business had revenue of $687.00 million during the quarter, compared to analysts’ expectations of $687.80 million. ESAB had a net margin of 7.98% and a return on equity of 15.38%. The business’s quarterly revenue was up 7.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.28 EPS. Sell-side analysts predict that ESAB Corporation will post 5.16 EPS for the current fiscal year.

ESAB Announces Dividend

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

Analysts Set New Price Targets

Several brokerages recently commented on ESAB. 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. Weiss Ratings downgraded shares of ESAB from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, February 20th. Wall Street Zen lowered shares of ESAB from a “buy” rating to a “hold” rating in a research report on Saturday, March 21st. Stifel Nicolaus upped their price target on shares of ESAB from $144.00 to $158.00 and gave the stock a “buy” rating in a report on Monday, February 23rd. Finally, Oppenheimer increased their price objective on ESAB from $142.00 to $148.00 and gave the stock an “outperform” rating in a research report on Friday, January 23rd. Six analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $145.25.

About ESAB

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.