6,358 Shares in ESAB Corporation $ESAB Purchased by Legato Capital Management LLC

Legato Capital Management LLC bought a new position in shares of ESAB Corporation (NYSE:ESAB) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 6,358 shares of the company’s stock, valued at approximately $710,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Diamond Hill Capital Management Inc. grew its position in ESAB by 110.1% during the fourth quarter. Diamond Hill Capital Management Inc. now owns 354,397 shares of the company’s stock worth $39,593,000 after buying an additional 185,729 shares in the last quarter. Global Retirement Partners LLC lifted its stake in ESAB by 3,023.1% during the fourth quarter. Global Retirement Partners LLC now owns 406 shares of the company’s stock worth $45,000 after purchasing an additional 393 shares during the period. Leonteq Securities AG bought a new position in ESAB during the fourth quarter worth about $115,000. TimesSquare Capital Management LLC lifted its stake in ESAB by 37.8% during 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, Envestnet Portfolio Solutions Inc. lifted its stake in ESAB by 3.3% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 8,229 shares of the company’s stock worth $919,000 after purchasing an additional 260 shares during the period. 91.13% of the stock is owned by institutional investors and hedge funds.

ESAB Stock Performance

NYSE:ESAB opened at $91.81 on Tuesday. ESAB Corporation has a 1 year low of $83.17 and a 1 year high of $137.42. The firm has a 50 day moving average of $97.57 and a 200-day moving average of $110.28. 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 stock has a market capitalization of $5.59 billion, a P/E ratio of 27.16, a price-to-earnings-growth ratio of 1.68 and a beta of 1.24.

ESAB (NYSE:ESAB) last posted its earnings results on Thursday, May 7th. The company reported $1.31 earnings per share (EPS) 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 firm had revenue of $745.60 million during the quarter, compared to the consensus estimate of $706.74 million. During the same quarter last year, the firm posted $1.25 EPS. The business’s revenue was up 10.0% on a year-over-year basis. As a group, sell-side analysts anticipate that ESAB Corporation will post 5.81 EPS for the current fiscal year.

ESAB Increases Dividend

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

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Stifel Nicolaus set a $141.00 price target on shares of ESAB in a research note on Friday, May 8th. JPMorgan Chase & Co. cut their price target on shares of ESAB from $148.00 to $135.00 and set an “overweight” rating for the company in a research note on Friday, April 10th. Oppenheimer restated an “outperform” rating and set a $140.00 price target on shares of ESAB in a research note on Tuesday, April 14th. Wall Street Zen cut shares of ESAB from a “buy” rating to a “hold” rating in a research note on Saturday, March 21st. Finally, Jefferies Financial Group restated a “buy” rating and set a $130.00 price target (down from $150.00) on shares of ESAB in a research note on Tuesday, March 31st. Eight 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, ESAB has an average rating of “Moderate Buy” and an average price target of $139.88.

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.