Van Berkom & Associates Inc. Lowers Holdings in ESAB Corporation $ESAB

Van Berkom & Associates Inc. trimmed its stake in shares of ESAB Corporation (NYSE:ESAB) by 13.9% during the 1st quarter, Holdings Channel reports. The fund owned 656,272 shares of the company’s stock after selling 106,006 shares during the quarter. ESAB makes up about 2.1% of Van Berkom & Associates Inc.’s investment portfolio, making the stock its 28th largest position. Van Berkom & Associates Inc.’s holdings in ESAB were worth $63,435,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Teacher Retirement System of Texas grew its holdings in ESAB by 33.9% in the fourth quarter. Teacher Retirement System of Texas now owns 177,428 shares of the company’s stock valued at $19,822,000 after purchasing an additional 44,877 shares during the period. Defender Capital LLC. purchased a new stake in shares of ESAB during the fourth quarter worth $3,977,000. TimesSquare Capital Management LLC raised its holdings in ESAB by 37.8% in the 4th quarter. TimesSquare Capital Management LLC now owns 959,101 shares of the company’s stock valued at $107,151,000 after acquiring an additional 262,850 shares during the last quarter. Schwartz Investment Counsel Inc. acquired a new stake in shares of ESAB in the fourth quarter valued at approximately $8,938,000. Finally, Bessemer Group Inc. lifted its position in ESAB by 6,787.0% during the fourth quarter. Bessemer Group Inc. now owns 1,053,776 shares of the company’s stock worth $117,730,000 after buying an additional 1,038,475 shares in the last quarter. Institutional investors and hedge funds own 91.13% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on ESAB. Weiss Ratings lowered shares of ESAB from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, April 27th. Jefferies Financial Group reiterated a “buy” rating and issued a $130.00 price objective (down from $150.00) on shares of ESAB in a report on Tuesday, March 31st. Roth Capital raised their price target on shares of ESAB from $142.00 to $151.00 and gave the company a “buy” rating in a research report on Tuesday, July 7th. Oppenheimer reiterated an “outperform” rating and issued a $140.00 price objective on shares of ESAB in a research note on Tuesday, April 14th. Finally, DA Davidson initiated coverage on ESAB in a research report on Monday, June 15th. They set a “buy” rating and a $130.00 price objective for the company. Eight research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, ESAB presently has a consensus rating of “Moderate Buy” and an average target price of $139.50.

ESAB Trading Down 0.0%

NYSE ESAB opened at $89.77 on Monday. The company has a debt-to-equity ratio of 0.91, a quick ratio of 2.26 and a current ratio of 2.97. ESAB Corporation has a one year low of $82.18 and a one year high of $137.42. The firm’s fifty day moving average is $92.84 and its two-hundred day moving average is $105.20. The firm has a market cap of $5.47 billion, a PE ratio of 26.56, a P/E/G ratio of 1.65 and a beta of 1.17.

ESAB (NYSE:ESAB) last issued its quarterly earnings results on Thursday, May 7th. The company reported $1.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.32 by ($0.01). The company had revenue of $745.60 million during the quarter, compared to analyst estimates of $706.74 million. ESAB had a net margin of 7.11% and a return on equity of 15.04%. The business’s revenue was up 10.0% on a year-over-year basis. During the same quarter last year, the firm earned $1.25 EPS. Analysts expect that ESAB Corporation will post 5.79 earnings per share for the current year.

ESAB Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 17th. Stockholders of record on Friday, July 3rd were issued a $0.12 dividend. The ex-dividend date of this dividend was Thursday, July 2nd. This is an increase from ESAB’s previous quarterly dividend of $0.10. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.5%. ESAB’s dividend payout ratio is presently 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.