ESAB (NYSE:ESAB) Sets New 1-Year Low – What’s Next?

ESAB Corporation (NYSE:ESAB)’s stock price reached a new 52-week low on Tuesday . The company traded as low as $89.41 and last traded at $91.4210, with a volume of 843211 shares changing hands. The stock had previously closed at $91.58.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on ESAB shares. Oppenheimer raised their price target on ESAB from $142.00 to $148.00 and gave the stock an “outperform” rating in a research report on Friday, January 23rd. Weiss Ratings cut shares of ESAB from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, February 20th. Roth Mkm reiterated a “buy” rating and set a $146.00 price objective (down from $150.00) on shares of ESAB in a research note on Tuesday, February 3rd. Stifel Nicolaus raised their target price on shares of ESAB from $144.00 to $158.00 and gave the company a “buy” rating in a report on Monday, February 23rd. Finally, Wall Street Zen cut shares of ESAB from a “buy” rating to a “hold” rating in a research report on Saturday, March 21st. Six investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $145.25.

ESAB Stock Performance

The company has a 50 day moving average price of $116.16 and a 200-day moving average price of $114.93. The company has a current ratio of 1.90, a quick ratio of 1.17 and a debt-to-equity ratio of 0.56. The company has a market cap of $5.55 billion, a P/E ratio of 24.71, a price-to-earnings-growth ratio of 1.69 and a beta of 1.23.

ESAB (NYSE:ESAB) last announced its quarterly earnings data on Friday, February 20th. The company reported $1.35 earnings per share for the quarter, topping the consensus estimate of $1.34 by $0.01. The business had revenue of $687.00 million during the quarter, compared to the consensus estimate of $687.80 million. ESAB had a return on equity of 15.38% and a net margin of 7.98%.ESAB’s revenue for the quarter was up 7.5% on a year-over-year basis. During the same period in the prior year, the company earned $1.28 EPS. On average, equities analysts expect that ESAB Corporation will post 5.16 earnings per share for the current fiscal year.

ESAB Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 17th. Shareholders of record on Thursday, April 2nd will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, April 2nd. This represents a $0.40 annualized dividend and a yield of 0.4%. ESAB’s payout ratio is presently 10.81%.

Insider Activity at ESAB

In other news, CEO Shyam Kambeyanda sold 59,404 shares of the firm’s stock in a transaction that occurred on Monday, February 23rd. The shares were sold at an average price of $123.79, for a total value of $7,353,621.16. Following the sale, the chief executive officer directly owned 99,864 shares in the company, valued at approximately $12,362,164.56. This trade represents a 37.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 7.30% of the company’s stock.

Hedge Funds Weigh In On ESAB

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. FNY Investment Advisers LLC acquired a new stake in ESAB in the third quarter valued at approximately $30,000. Los Angeles Capital Management LLC acquired a new position in shares of ESAB during the fourth quarter worth $33,000. Northwestern Mutual Wealth Management Co. increased its holdings in shares of ESAB by 109.4% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 333 shares of the company’s stock worth $40,000 after buying an additional 174 shares in the last quarter. Smartleaf Asset Management LLC lifted its stake in shares of ESAB by 259.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 381 shares of the company’s stock valued at $43,000 after acquiring an additional 275 shares during the last quarter. Finally, Global Retirement Partners LLC lifted its stake in shares of ESAB by 3,023.1% in the 4th quarter. Global Retirement Partners LLC now owns 406 shares of the company’s stock valued at $45,000 after acquiring an additional 393 shares during the last quarter. Institutional investors own 91.13% of the company’s stock.

About ESAB

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.