ESAB Corporation $ESAB Shares Sold by Interval Partners LP

Interval Partners LP lowered its stake in ESAB Corporation (NYSE:ESAB) by 45.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 347,819 shares of the company’s stock after selling 284,593 shares during the quarter. Interval Partners LP’s holdings in ESAB were worth $38,858,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Teacher Retirement System of Texas lifted its holdings in ESAB by 33.9% in the fourth quarter. Teacher Retirement System of Texas now owns 177,428 shares of the company’s stock worth $19,822,000 after purchasing an additional 44,877 shares during the period. Confluence Investment Management LLC acquired a new stake in ESAB in the fourth quarter worth about $998,000. Defender Capital LLC. acquired a new stake in ESAB in the fourth quarter worth about $3,977,000. TimesSquare Capital Management LLC lifted its holdings in ESAB by 37.8% in the fourth quarter. TimesSquare Capital Management LLC now owns 959,101 shares of the company’s stock worth $107,151,000 after purchasing an additional 262,850 shares during the period. Finally, Schwartz Investment Counsel Inc. acquired a new stake in ESAB in the fourth quarter worth about $8,938,000. Institutional investors and hedge funds own 91.13% of the company’s stock.

ESAB Price Performance

Shares of NYSE ESAB opened at $99.34 on Thursday. ESAB Corporation has a twelve month low of $82.18 and a twelve month high of $137.42. 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 company has a market capitalization of $6.05 billion, a price-to-earnings ratio of 29.39, a PEG ratio of 1.88 and a beta of 1.19. The firm has a 50-day moving average of $95.95 and a two-hundred day moving average of $108.03.

ESAB (NYSE:ESAB) last issued its quarterly earnings results on Thursday, May 7th. The company reported $1.31 earnings per share for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.01). ESAB had a net margin of 7.11% and a return on equity of 15.04%. The business had revenue of $745.60 million during the quarter, compared to analyst estimates of $706.74 million. During the same period in the previous year, the company posted $1.25 earnings per share. ESAB’s revenue was up 10.0% compared to the same quarter last year. As a group, analysts expect that ESAB Corporation will post 5.81 earnings per share for the current fiscal year.

ESAB Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 17th. Shareholders of record on Friday, July 3rd will be paid a dividend of $0.12 per share. This is a boost from ESAB’s previous quarterly dividend of $0.10. This represents a $0.48 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend is Thursday, July 2nd. ESAB’s payout ratio is currently 11.83%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on ESAB. Oppenheimer reaffirmed an “outperform” rating and issued a $140.00 price objective on shares of ESAB in a report on Tuesday, April 14th. DA Davidson began coverage on shares of ESAB in a report on Monday. They issued a “buy” rating and a $130.00 price target for the company. Roth Mkm set a $142.00 price target on shares of ESAB in a report on Thursday, April 16th. Jefferies Financial Group reissued a “buy” rating and issued a $130.00 price target (down from $150.00) on shares of ESAB in a report on Tuesday, March 31st. Finally, Stifel Nicolaus set a $141.00 price target on shares of ESAB in a report on Friday, May 8th. Eight investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, ESAB currently has a consensus rating of “Moderate Buy” and a consensus price target of $138.38.

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.