ESAB (NYSE:ESAB) Hits New 12-Month Low – What’s Next?

Shares of ESAB Corporation (NYSE:ESAB) hit a new 52-week low during trading on Wednesday . The stock traded as low as $83.09 and last traded at $82.74, with a volume of 686551 shares traded. The stock had previously closed at $88.48.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Stifel Nicolaus set a $141.00 price objective on ESAB in a report on Friday, May 8th. Jefferies Financial Group reiterated 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. Weiss Ratings cut ESAB from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday, April 27th. DA Davidson dropped their target price on shares of ESAB from $146.00 to $142.00 and set a “buy” rating on the stock in a report on Thursday, April 16th. Finally, JPMorgan Chase & Co. decreased their price target on shares of ESAB from $148.00 to $135.00 and set an “overweight” rating for the company in a report on Friday, April 10th. Eight analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $139.88.

ESAB Stock Performance

The company has a debt-to-equity ratio of 0.91, a quick ratio of 2.26 and a current ratio of 2.97. The stock’s fifty day moving average is $96.35 and its two-hundred day moving average is $108.67. The firm has a market cap of $5.04 billion, a price-to-earnings ratio of 24.48, a PEG ratio of 1.61 and a beta of 1.19.

ESAB (NYSE:ESAB) last posted its earnings results on Thursday, May 7th. The company reported $1.31 EPS for the quarter, missing the consensus estimate of $1.32 by ($0.01). ESAB had a return on equity of 15.04% and a net margin of 7.11%.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 company posted $1.25 EPS. ESAB’s revenue for the quarter was up 10.0% on a year-over-year basis. On average, analysts expect that ESAB Corporation will post 5.81 earnings per share for the current fiscal 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 given a dividend of $0.12 per share. This is a boost from ESAB’s previous quarterly dividend of $0.10. The ex-dividend date is Thursday, July 2nd. This represents a $0.48 dividend on an annualized basis and a yield of 0.6%. ESAB’s payout ratio is presently 11.83%.

Institutional Trading of ESAB

Several institutional investors have recently modified their holdings of ESAB. Thrivent Financial for Lutherans grew its holdings in ESAB by 0.7% during the second quarter. Thrivent Financial for Lutherans now owns 13,417 shares of the company’s stock worth $1,617,000 after acquiring an additional 95 shares during the period. Xponance Inc. grew its stake in shares of ESAB by 1.6% in the 3rd quarter. Xponance Inc. now owns 6,488 shares of the company’s stock worth $725,000 after purchasing an additional 102 shares during the last quarter. Public Employees Retirement System of Ohio raised its holdings in shares of ESAB by 0.5% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 19,605 shares of the company’s stock worth $2,191,000 after purchasing an additional 107 shares in the last quarter. HB Wealth Management LLC lifted its stake in ESAB by 5.0% during the first quarter. HB Wealth Management LLC now owns 2,479 shares of the company’s stock valued at $240,000 after purchasing an additional 118 shares during the last quarter. Finally, Coldstream Capital Management Inc. lifted its stake in ESAB by 5.9% during the third quarter. Coldstream Capital Management Inc. now owns 2,689 shares of the company’s stock valued at $300,000 after purchasing an additional 149 shares during the last quarter. Institutional investors and hedge funds own 91.13% of the company’s stock.

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.