MUFG Securities EMEA plc Buys New Position in ESAB Corporation $ESAB

MUFG Securities EMEA plc bought a new stake in ESAB Corporation (NYSE:ESAB) during the fourth quarter, Holdings Channel.com reports. The fund bought 103,000 shares of the company’s stock, valued at approximately $11,507,000.

A number of other institutional investors and hedge funds have also bought and sold shares of ESAB. Royal Bank of Canada raised its stake in ESAB by 29.4% in the first quarter. Royal Bank of Canada now owns 51,867 shares of the company’s stock valued at $6,042,000 after purchasing an additional 11,772 shares in the last quarter. Millennium Management LLC purchased a new stake in ESAB in the first quarter valued at approximately $10,616,000. Goldman Sachs Group Inc. raised its stake in ESAB by 25.9% in the first quarter. Goldman Sachs Group Inc. now owns 458,339 shares of the company’s stock valued at $53,396,000 after purchasing an additional 94,335 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in ESAB by 109.4% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 333 shares of the company’s stock valued at $40,000 after purchasing an additional 174 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its stake in ESAB by 183.4% in the second quarter. EverSource Wealth Advisors LLC now owns 972 shares of the company’s stock valued at $117,000 after purchasing an additional 629 shares in the last quarter. 91.13% of the stock is owned by hedge funds and other institutional investors.

ESAB Stock Down 0.1%

Shares of NYSE ESAB opened at $92.34 on Monday. 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 52 week low of $83.17 and a 52 week high of $137.42. The firm’s fifty day moving average is $97.20 and its 200 day moving average is $109.72. The company has a market cap of $5.62 billion, a price-to-earnings ratio of 27.32, a PEG ratio of 1.70 and a beta of 1.19.

ESAB (NYSE:ESAB) last issued 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 analysts’ expectations of $706.74 million. During the same period in the previous year, the firm earned $1.25 earnings per share. The firm’s quarterly revenue was up 10.0% compared to the same quarter last year. On average, equities research analysts expect that ESAB Corporation will post 5.81 earnings per share for the current year.

ESAB Increases Dividend

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

Analyst Ratings Changes

A number of equities research analysts recently weighed in on ESAB shares. Jefferies Financial Group reaffirmed a “buy” rating and issued a $130.00 target price (down from $150.00) on shares of ESAB in a research note on Tuesday, March 31st. Wall Street Zen downgraded shares of ESAB from a “buy” rating to a “hold” rating in a research note on Saturday, March 21st. DA Davidson reduced their price target on shares of ESAB from $146.00 to $142.00 and set a “buy” rating on the stock in a research report on Thursday, April 16th. Weiss Ratings downgraded shares of ESAB from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday, April 27th. Finally, JPMorgan Chase & Co. cut their price objective 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. Eight equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price 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.