IMC Chicago LLC Invests $1.63 Million in ESAB Corporation $ESAB

IMC Chicago LLC acquired a new stake in shares of ESAB Corporation (NYSE:ESAB) during the second quarter, HoldingsChannel.com reports. The institutional investor acquired 16,495 shares of the company’s stock, valued at approximately $1,627,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Royal Bank of Canada lifted its position in shares of ESAB by 29.4% during the first quarter. Royal Bank of Canada now owns 51,867 shares of the company’s stock valued at $6,042,000 after buying an additional 11,772 shares during the last quarter. Millennium Management LLC purchased a new position in shares of ESAB in the 1st quarter worth approximately $10,616,000. Goldman Sachs Group Inc. raised its stake in shares of ESAB by 25.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 458,339 shares of the company’s stock worth $53,396,000 after acquiring an additional 94,335 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in ESAB by 109.4% during the second 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. Finally, EverSource Wealth Advisors LLC lifted its position in ESAB by 183.4% during the second quarter. EverSource Wealth Advisors LLC now owns 972 shares of the company’s stock valued at $117,000 after acquiring an additional 629 shares during the last quarter. Hedge funds and other institutional investors own 91.13% of the company’s stock.

ESAB Stock Performance

NYSE ESAB opened at $76.34 on Friday. The stock has a fifty day simple moving average of $88.40 and a 200-day simple moving average of $98.11. The company has a current ratio of 1.96, a quick ratio of 1.22 and a debt-to-equity ratio of 0.99. The stock has a market cap of $4.75 billion, a PE ratio of 27.36, a P/E/G ratio of 1.49 and a beta of 1.19. ESAB Corporation has a twelve month low of $75.83 and a twelve month high of $137.42.

ESAB (NYSE:ESAB) last issued its quarterly earnings data on Thursday, August 6th. The company reported $1.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.37 by ($0.04). ESAB had a net margin of 5.75% and a return on equity of 14.48%. The company had revenue of $807.63 million during the quarter, compared to analysts’ expectations of $755.64 million. During the same quarter last year, the firm posted $1.36 earnings per share. The firm’s quarterly revenue was up 12.9% on a year-over-year basis. ESAB has set its FY 2026 guidance at 5.400-5.500 EPS. Equities analysts anticipate that ESAB Corporation will post 5.46 earnings per share for the current year.

Insider Activity

In other news, Director Rhonda L. Jordan sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $95.00, for a total value of $95,000.00. Following the sale, the director directly owned 1,000 shares of the company’s stock, valued at approximately $95,000. The trade was a 50.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 7.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. DA Davidson started coverage on shares of ESAB in a research note on Monday, June 15th. They issued a “buy” rating and a $130.00 target price for the company. Weiss Ratings lowered ESAB from a “hold (c)” rating to a “hold (c-)” rating in a report on Tuesday, August 11th. Oppenheimer lowered their price objective on ESAB from $140.00 to $135.00 and set an “outperform” rating for the company in a research report on Tuesday, July 21st. Stifel Nicolaus dropped their target price on ESAB from $141.00 to $137.00 and set a “buy” rating on the stock in a research note on Monday, July 20th. Finally, Roth Capital increased their price target on ESAB from $142.00 to $151.00 and gave the company a “buy” rating in a research note on Tuesday, July 7th. Seven research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $138.14.

ESAB Company 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.