ESAB Corporation $ESAB Holdings Decreased by King Luther Capital Management Corp

King Luther Capital Management Corp cut its position in shares of ESAB Corporation (NYSE:ESAB) by 19.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 54,600 shares of the company’s stock after selling 12,886 shares during the quarter. King Luther Capital Management Corp’s holdings in ESAB were worth $6,101,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in ESAB. Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of ESAB by 3.1% during the second quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,693 shares of the company’s stock worth $325,000 after purchasing an additional 81 shares during the period. Thrivent Financial for Lutherans grew its position in shares of ESAB by 0.7% during the 2nd quarter. Thrivent Financial for Lutherans now owns 13,417 shares of the company’s stock valued at $1,617,000 after buying an additional 95 shares during the last quarter. State of Michigan Retirement System raised its stake in ESAB by 0.7% during the second quarter. State of Michigan Retirement System now owns 13,702 shares of the company’s stock worth $1,652,000 after acquiring an additional 100 shares during the period. ProShare Advisors LLC lifted its holdings in ESAB by 4.4% in the second quarter. ProShare Advisors LLC now owns 2,527 shares of the company’s stock worth $305,000 after acquiring an additional 106 shares during the last quarter. Finally, Ellevest Inc. boosted its stake in ESAB by 3.8% in the second quarter. Ellevest Inc. now owns 3,150 shares of the company’s stock valued at $380,000 after acquiring an additional 114 shares during the period. Institutional investors and hedge funds own 91.13% of the company’s stock.

ESAB Trading Down 1.6%

Shares of NYSE:ESAB opened at $130.76 on Friday. The company has a 50 day moving average of $120.64 and a 200-day moving average of $116.35. The company has a current ratio of 1.99, a quick ratio of 1.24 and a debt-to-equity ratio of 0.62. The firm has a market cap of $7.94 billion, a P/E ratio of 32.94, a P/E/G ratio of 2.45 and a beta of 1.24. ESAB Corporation has a twelve month low of $100.17 and a twelve month high of $137.42.

ESAB (NYSE:ESAB) last released its earnings results on Thursday, February 19th. The company reported $1.35 earnings per share for the quarter, topping analysts’ consensus estimates of $1.34 by $0.01. ESAB had a return on equity of 15.93% and a net margin of 8.70%. As a group, analysts anticipate that ESAB Corporation will post 5.16 earnings per share for the current fiscal year.

ESAB Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 16th. Investors of record on Wednesday, December 31st were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend was Wednesday, December 31st. ESAB’s payout ratio is currently 10.08%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. JPMorgan Chase & Co. dropped their price target on ESAB from $138.00 to $130.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 3rd. Wall Street Zen downgraded shares of ESAB from a “buy” rating to a “hold” rating in a report on Sunday, December 28th. Stifel Nicolaus lifted their price objective on shares of ESAB from $143.00 to $144.00 and gave the company a “buy” rating in a research report on Friday, January 23rd. Roth Mkm restated a “buy” rating and issued a $146.00 target price (down previously from $150.00) on shares of ESAB in a research report on Tuesday, February 3rd. Finally, Weiss Ratings raised ESAB from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, February 2nd. Seven research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, ESAB presently has a consensus rating of “Moderate Buy” and an average target price of $140.63.

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.