Homestead Advisers Corp Sells 6,900 Shares of ESAB Corporation $ESAB

Homestead Advisers Corp cut its position in ESAB Corporation (NYSE:ESAB) by 11.5% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 52,876 shares of the company’s stock after selling 6,900 shares during the quarter. Homestead Advisers Corp owned approximately 0.09% of ESAB worth $5,908,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ESAB. Northwestern Mutual Wealth Management Co. raised its stake in ESAB by 109.4% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 333 shares of the company’s stock worth $40,000 after acquiring an additional 174 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new stake in ESAB in the 2nd quarter valued at about $59,000. AlphaQuest LLC purchased a new position in shares of ESAB during the third quarter worth $58,000. Farther Finance Advisors LLC lifted its holdings in ESAB by 60.4% during the 3rd quarter. Farther Finance Advisors LLC now owns 669 shares of the company’s stock worth $75,000 after buying an additional 252 shares in the last quarter. Finally, Hantz Financial Services Inc. grew its holdings in ESAB by 59.5% during the 3rd quarter. Hantz Financial Services Inc. now owns 681 shares of the company’s stock worth $76,000 after acquiring an additional 254 shares in the last quarter. 91.13% of the stock is currently owned by hedge funds and other institutional investors.

ESAB Stock Performance

Shares of ESAB stock opened at $127.85 on Thursday. The stock has a market capitalization of $7.76 billion, a price-to-earnings ratio of 32.20, a PEG ratio of 2.07 and a beta of 1.24. The company’s 50-day simple moving average is $115.86 and its 200-day simple moving average is $116.12. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.24 and a current ratio of 1.99. ESAB Corporation has a one year low of $100.17 and a one year high of $135.84.

ESAB Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 16th. Investors of record on Wednesday, December 31st were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend was Wednesday, December 31st. ESAB’s dividend payout ratio is currently 10.08%.

Analyst Ratings Changes

ESAB has been the subject of several research reports. Oppenheimer boosted their target price on ESAB from $142.00 to $148.00 and gave the company an “outperform” rating in a report on Friday, January 23rd. Stifel Nicolaus raised their price target on ESAB from $143.00 to $144.00 and gave the stock a “buy” rating in a research report on Friday, January 23rd. UBS Group lifted their target price on shares of ESAB from $147.00 to $149.00 and gave the stock a “buy” rating in a research note on Monday, October 20th. Wall Street Zen lowered shares of ESAB from a “buy” rating to a “hold” rating in a research report on Sunday, December 28th. Finally, Weiss Ratings upgraded ESAB from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday. Seven equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, ESAB currently has an average rating of “Moderate Buy” and an average target price of $140.63.

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.