T. Rowe Price Investment Management Inc. Purchases 45,841 Shares of ESAB Corporation $ESAB

T. Rowe Price Investment Management Inc. boosted its position in shares of ESAB Corporation (NYSE:ESAB) by 0.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,006,238 shares of the company’s stock after acquiring an additional 45,841 shares during the period. T. Rowe Price Investment Management Inc. owned 0.13% of ESAB worth $894,457,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Mercer Global Advisors Inc. ADV acquired a new stake in shares of ESAB in the fourth quarter valued at about $322,000. Vident Advisory LLC lifted its position in shares of ESAB by 132.4% during the 4th quarter. Vident Advisory LLC now owns 4,879 shares of the company’s stock worth $545,000 after purchasing an additional 2,780 shares during the last quarter. First Citizens Bank & Trust Co. lifted its position in shares of ESAB by 2.2% during the 4th quarter. First Citizens Bank & Trust Co. now owns 8,335 shares of the company’s stock worth $931,000 after purchasing an additional 182 shares during the last quarter. NewEdge Advisors LLC boosted its stake in ESAB by 118.0% during the 4th quarter. NewEdge Advisors LLC now owns 5,363 shares of the company’s stock valued at $599,000 after purchasing an additional 2,903 shares during the period. Finally, XTX Topco Ltd bought a new stake in ESAB during the 4th quarter valued at approximately $2,169,000. 91.13% of the stock is currently owned by institutional investors.

ESAB Trading Up 7.7%

ESAB stock opened at $106.83 on Friday. The business has a 50 day moving average price of $96.20 and a two-hundred day moving average price of $107.99. The company has a quick ratio of 2.26, a current ratio of 2.97 and a debt-to-equity ratio of 0.91. ESAB Corporation has a 12 month low of $82.18 and a 12 month high of $137.42. The stock has a market cap of $6.50 billion, a price-to-earnings ratio of 31.61, a price-to-earnings-growth ratio of 1.82 and a beta of 1.19.

ESAB (NYSE:ESAB) last announced its quarterly earnings data on Thursday, May 7th. The company reported $1.31 earnings per share for the quarter, missing the consensus estimate of $1.32 by ($0.01). The firm had revenue of $745.60 million for the quarter, compared to analyst estimates of $706.74 million. ESAB had a return on equity of 15.04% and a net margin of 7.11%.ESAB’s revenue for the quarter was up 10.0% compared to the same quarter last year. During the same period in the previous year, the business posted $1.25 EPS. As a group, equities analysts forecast that ESAB Corporation will post 5.82 EPS for the current year.

ESAB Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 17th. Shareholders of record on Friday, July 3rd will be issued a $0.12 dividend. This is a boost from ESAB’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend is Thursday, July 2nd. This represents a $0.48 annualized dividend and a yield of 0.4%. ESAB’s payout ratio is presently 11.83%.

Wall Street Analyst Weigh In

ESAB has been the topic of several recent analyst reports. Jefferies Financial Group reaffirmed a “buy” rating and issued a $130.00 price target (down from $150.00) on shares of ESAB in a research report on Tuesday, March 31st. JPMorgan Chase & Co. reduced their price objective on ESAB from $148.00 to $135.00 and set an “overweight” rating for the company in a research report on Friday, April 10th. Wall Street Zen downgraded shares of ESAB from a “buy” rating to a “hold” rating in a research note on Saturday, March 21st. Weiss Ratings lowered shares of ESAB from a “hold (c+)” rating to a “hold (c)” rating in a research report on Monday, April 27th. Finally, Roth Mkm set a $142.00 target price on shares of ESAB in a research note on Thursday, April 16th. Eight research 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.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $138.38.

ESAB 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.