Kennedy Capital Management LLC Has $15.81 Million Stock Holdings in ESAB Corporation $ESAB

Kennedy Capital Management LLC grew its stake in shares of ESAB Corporation (NYSE:ESAB) by 17.8% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 131,117 shares of the company’s stock after acquiring an additional 19,803 shares during the quarter. Kennedy Capital Management LLC owned about 0.22% of ESAB worth $15,806,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of ESAB. JPMorgan Chase & Co. lifted its position in ESAB by 8.4% during the first quarter. JPMorgan Chase & Co. now owns 2,387,626 shares of the company’s stock worth $278,158,000 after purchasing an additional 185,058 shares during the period. Invesco Ltd. raised its position in shares of ESAB by 1.6% in the 2nd quarter. Invesco Ltd. now owns 2,123,958 shares of the company’s stock valued at $256,043,000 after buying an additional 33,015 shares in the last quarter. Champlain Investment Partners LLC lifted its holdings in shares of ESAB by 5.9% during the 2nd quarter. Champlain Investment Partners LLC now owns 2,043,843 shares of the company’s stock worth $246,385,000 after acquiring an additional 114,744 shares during the period. Geode Capital Management LLC boosted its position in shares of ESAB by 1.0% during the 2nd quarter. Geode Capital Management LLC now owns 1,272,604 shares of the company’s stock worth $153,432,000 after acquiring an additional 12,660 shares in the last quarter. Finally, Durable Capital Partners LP acquired a new stake in shares of ESAB during the 1st quarter worth approximately $114,067,000. Institutional investors own 91.13% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Oppenheimer cut their target price on ESAB from $144.00 to $142.00 and set an “outperform” rating for the company in a research note on Thursday, August 7th. Stifel Nicolaus upgraded ESAB from a “hold” rating to a “buy” rating and set a $141.00 price objective for the company in a research report on Thursday, August 7th. Loop Capital upgraded ESAB from a “hold” rating to a “buy” rating and lifted their target price for the company from $130.00 to $140.00 in a research report on Friday, August 22nd. Zacks Research cut shares of ESAB from a “strong-buy” rating to a “hold” rating in a report on Monday, August 18th. Finally, UBS Group increased their price objective on shares of ESAB from $147.00 to $149.00 and gave the company a “buy” rating in a research note on Monday, October 20th. Eight equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $143.33.

ESAB Stock Up 3.0%

NYSE:ESAB opened at $112.65 on Thursday. ESAB Corporation has a one year low of $100.17 and a one year high of $135.84. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.99 and a quick ratio of 1.24. The company has a market cap of $6.84 billion, a PE ratio of 28.38, a P/E/G ratio of 2.12 and a beta of 1.24. The firm’s 50 day simple moving average is $114.52 and its 200 day simple moving average is $118.54.

ESAB (NYSE:ESAB) last released its quarterly earnings results on Wednesday, October 29th. The company reported $1.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.27 by $0.05. The firm had revenue of $727.85 million during the quarter, compared to the consensus estimate of $663.57 million. ESAB had a net margin of 8.70% and a return on equity of 15.93%. The company’s revenue for the quarter was up 8.1% on a year-over-year basis. During the same quarter last year, the firm earned $1.25 earnings per share. ESAB has set its FY 2025 guidance at 5.200-5.30 EPS. On average, research analysts anticipate that ESAB Corporation will post 5.16 earnings per share for the current year.

ESAB Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 17th. Investors of record on Friday, October 3rd were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend was Friday, October 3rd. ESAB’s dividend payout ratio (DPR) is currently 10.08%.

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.