Allspring Global Investments Holdings LLC Takes $9.61 Million Position in ESAB Corporation $ESAB

Allspring Global Investments Holdings LLC acquired a new position in shares of ESAB Corporation (NYSE:ESAB) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 95,107 shares of the company’s stock, valued at approximately $9,606,000. Allspring Global Investments Holdings LLC owned approximately 0.16% of ESAB at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in ESAB. Los Angeles Capital Management LLC purchased a new position in shares of ESAB during the fourth quarter valued at approximately $33,000. Northwestern Mutual Wealth Management Co. raised its holdings in ESAB by 109.4% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 333 shares of the company’s stock valued at $40,000 after acquiring an additional 174 shares during the last quarter. Smartleaf Asset Management LLC lifted its stake in shares of ESAB by 259.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 381 shares of the company’s stock worth $43,000 after purchasing an additional 275 shares during the period. Global Retirement Partners LLC lifted its stake in shares of ESAB by 3,023.1% during the 4th quarter. Global Retirement Partners LLC now owns 406 shares of the company’s stock worth $45,000 after purchasing an additional 393 shares during the period. Finally, UMB Bank n.a. boosted its holdings in shares of ESAB by 185.3% during the fourth quarter. UMB Bank n.a. now owns 642 shares of the company’s stock worth $72,000 after purchasing an additional 417 shares during the last quarter. Institutional investors and hedge funds own 91.13% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Oppenheimer dropped their price objective on shares of ESAB from $140.00 to $135.00 and set an “outperform” rating for the company in a research note on Tuesday. Jefferies Financial Group restated a “buy” rating and issued a $130.00 target price (down from $150.00) on shares of ESAB in a report on Tuesday, March 31st. Stifel Nicolaus dropped their price target on shares of ESAB from $141.00 to $137.00 and set a “buy” rating for the company in a research report on Monday. JPMorgan Chase & Co. cut their price target on shares of ESAB from $148.00 to $135.00 and set an “overweight” rating on the stock in a research note on Friday, April 10th. Finally, Roth Capital lifted their price target on shares of ESAB from $142.00 to $151.00 and gave the company a “buy” rating in a report on Tuesday, July 7th. Eight research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, ESAB has an average rating of “Moderate Buy” and an average price target of $138.38.

ESAB Trading Down 2.5%

NYSE ESAB opened at $83.83 on Thursday. ESAB Corporation has a one year low of $82.18 and a one year high of $137.42. The company’s 50 day moving average price is $92.26 and its 200 day moving average price is $104.61. 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 firm has a market capitalization of $5.10 billion, a price-to-earnings ratio of 24.80, a PEG ratio of 1.60 and a beta of 1.17.

ESAB (NYSE:ESAB) last announced its quarterly earnings results on Thursday, May 7th. The company reported $1.31 earnings per share for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.01). ESAB had a return on equity of 15.04% and a net margin of 7.11%.The business had revenue of $745.60 million for the quarter, compared to analysts’ expectations of $706.74 million. During the same period last year, the company posted $1.25 earnings per share. The firm’s revenue for the quarter was up 10.0% on a year-over-year basis. On average, sell-side analysts predict that ESAB Corporation will post 5.72 EPS for the current year.

ESAB Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 17th. Stockholders of record on Friday, July 3rd were issued a dividend of $0.12 per share. The ex-dividend date was Thursday, July 2nd. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.6%. This is an increase from ESAB’s previous quarterly dividend of $0.10. ESAB’s payout ratio is 14.20%.

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.