ORG Partners LLC Makes New Investment in ESAB Corporation (NYSE:ESAB)

ORG Partners LLC purchased 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 Securities and Exchange Commission. The fund purchased 1,183 shares of the company’s stock, valued at approximately $143,000.

Other institutional investors have also modified their holdings of the company. SBI Securities Co. Ltd. acquired a new stake in shares of ESAB in the fourth quarter valued at $36,000. Advantage Alpha Capital Partners LP lifted its holdings in shares of ESAB by 8.5% in the fourth quarter. Advantage Alpha Capital Partners LP now owns 32,775 shares of the company’s stock valued at $3,931,000 after buying an additional 2,571 shares during the period. Atria Investments Inc lifted its holdings in shares of ESAB by 30.1% in the fourth quarter. Atria Investments Inc now owns 9,279 shares of the company’s stock valued at $1,113,000 after buying an additional 2,147 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of ESAB by 0.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 518,712 shares of the company’s stock valued at $62,214,000 after buying an additional 1,391 shares during the period. Finally, Sei Investments Co. lifted its holdings in shares of ESAB by 8.1% in the fourth quarter. Sei Investments Co. now owns 132,642 shares of the company’s stock valued at $15,909,000 after buying an additional 9,930 shares during the period. Institutional investors and hedge funds own 91.13% of the company’s stock.

ESAB Stock Down 2.2%

Shares of ESAB stock opened at $115.54 on Friday. The stock’s fifty day moving average is $122.25 and its 200-day moving average is $121.75. The firm has a market capitalization of $7.00 billion, a PE ratio of 26.02, a price-to-earnings-growth ratio of 2.82 and a beta of 1.31. The company has a quick ratio of 1.24, a current ratio of 1.91 and a debt-to-equity ratio of 0.54. ESAB Corporation has a 12-month low of $88.54 and a 12-month high of $135.97.

ESAB (NYSE:ESAB) last posted its quarterly earnings results on Thursday, May 1st. The company reported $1.25 earnings per share for the quarter, beating the consensus estimate of $1.18 by $0.07. The firm had revenue of $678.14 million for the quarter, compared to analyst estimates of $633.66 million. ESAB had a return on equity of 16.98% and a net margin of 9.98%. ESAB’s quarterly revenue was down 1.7% on a year-over-year basis. During the same period in the previous year, the firm earned $1.20 earnings per share. Equities analysts anticipate that ESAB Corporation will post 5.16 earnings per share for the current year.

ESAB Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 18th. Investors of record on Thursday, July 3rd will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.35%. This is a positive change from ESAB’s previous quarterly dividend of $0.08. The ex-dividend date is Thursday, July 3rd. ESAB’s payout ratio is presently 7.21%.

Insider Activity at ESAB

In related news, Director Rhonda L. Jordan sold 1,500 shares of the company’s stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $126.42, for a total transaction of $189,630.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Olivier Biebuyck sold 1,417 shares of the company’s stock in a transaction on Monday, May 12th. The shares were sold at an average price of $131.15, for a total value of $185,839.55. Following the transaction, the insider now directly owns 14,989 shares in the company, valued at $1,965,807.35. The trade was a 8.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. 7.30% of the stock is owned by insiders.

Analysts Set New Price Targets

Several brokerages have recently weighed in on ESAB. Evercore ISI upped their price objective on ESAB from $120.00 to $125.00 and gave the company an “in-line” rating in a report on Monday, May 19th. Robert W. Baird set a $143.00 price objective on ESAB in a report on Friday, May 2nd. JPMorgan Chase & Co. boosted their target price on ESAB from $133.00 to $140.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 18th. UBS Group raised ESAB from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $123.00 to $147.00 in a research report on Tuesday, April 1st. Finally, Stifel Nicolaus boosted their target price on ESAB from $109.00 to $126.00 and gave the stock a “hold” rating in a research report on Friday, May 2nd. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $137.22.

ESAB Profile

ESAB Corporation engages in the formulation, development, manufacture, and supply of consumable products and equipment for use in cutting, joining, automated welding, and gas control equipment. Its comprehensive range of welding consumables includes electrodes, cored and solid wires, and fluxes using a range of specialty and other materials; and cutting consumables comprising electrodes, nozzles, shields, and tips.