Norges Bank Makes New $85.69 Million Investment in ESAB Corporation $ESAB

Norges Bank bought a new position in ESAB Corporation (NYSE:ESAB) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund bought 767,028 shares of the company’s stock, valued at approximately $85,692,000. Norges Bank owned 1.26% of ESAB at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. Thrivent Financial for Lutherans grew its position in ESAB by 0.7% in the 2nd quarter. Thrivent Financial for Lutherans now owns 13,417 shares of the company’s stock worth $1,617,000 after purchasing an additional 95 shares during the period. Xponance Inc. grew its position in 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 period. Public Employees Retirement System of Ohio grew its position in 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 during the period. Coldstream Capital Management Inc. grew its position in ESAB by 5.9% in the 3rd quarter. Coldstream Capital Management Inc. now owns 2,689 shares of the company’s stock worth $300,000 after purchasing an additional 149 shares during the period. Finally, Lafayette Investments Inc. grew its position in ESAB by 0.5% in the 4th quarter. Lafayette Investments Inc. now owns 34,266 shares of the company’s stock worth $3,828,000 after purchasing an additional 161 shares during the period. Institutional investors own 91.13% of the company’s stock.

ESAB Trading Down 0.1%

Shares of ESAB stock opened at $88.19 on Friday. The company’s fifty day simple moving average is $96.50 and its 200-day simple moving average is $108.91. The stock has a market capitalization of $5.37 billion, a PE ratio of 26.09, a P/E/G ratio of 1.62 and a beta of 1.19. ESAB Corporation has a 1-year low of $83.17 and a 1-year high of $137.42. The company has a debt-to-equity ratio of 0.91, a current ratio of 2.97 and a quick ratio of 2.26.

ESAB (NYSE:ESAB) last issued its quarterly earnings results 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 business had revenue of $745.60 million for the quarter, compared to analysts’ expectations of $706.74 million. ESAB had a return on equity of 15.04% and a net margin of 7.11%.The company’s revenue was up 10.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.25 EPS. As a group, equities analysts anticipate 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 dividend of $0.12 per share. This is a positive change 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 dividend yield of 0.5%. ESAB’s dividend payout ratio is presently 11.83%.

Analysts Set New Price Targets

ESAB has been the subject of a number of research analyst reports. JPMorgan Chase & Co. cut their target price on shares of 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 cut shares of ESAB from a “buy” rating to a “hold” rating in a research note on Saturday, March 21st. Oppenheimer reiterated an “outperform” rating and set a $140.00 price target on shares of ESAB in a research note on Tuesday, April 14th. Stifel Nicolaus set a $141.00 price target on shares of ESAB in a research note on Friday, May 8th. Finally, Roth Mkm set a $142.00 price target on shares of ESAB in a research note on Thursday, April 16th. Eight investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $139.88.

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.