The Manufacturers Life Insurance Company Makes New Investment in ESAB Corporation $ESAB

The Manufacturers Life Insurance Company purchased a new stake in ESAB Corporation (NYSE:ESAB) during the second quarter, Holdings Channel.com reports. The institutional investor purchased 38,030 shares of the company’s stock, valued at approximately $3,751,000.

Several other institutional investors and hedge funds also recently made changes to their positions in ESAB. BlackRock Inc. acquired a new stake in shares of ESAB in the second quarter valued at about $524,533,000. Bessemer Group Inc. lifted its stake in shares of ESAB by 6,787.0% in the fourth quarter. Bessemer Group Inc. now owns 1,053,776 shares of the company’s stock worth $117,730,000 after acquiring an additional 1,038,475 shares during the period. Bank of New York Mellon Corp bought a new stake in ESAB in the second quarter valued at approximately $94,210,000. Norges Bank bought a new stake in ESAB in the fourth quarter valued at approximately $85,692,000. Finally, Capital Research Global Investors acquired a new stake in ESAB during the 4th quarter valued at approximately $69,099,000. Institutional investors and hedge funds own 91.13% of the company’s stock.

ESAB Stock Performance

Shares of ESAB stock opened at $74.03 on Wednesday. The business has a 50-day simple moving average of $87.40 and a 200 day simple moving average of $97.03. ESAB Corporation has a one year low of $73.78 and a one year high of $137.42. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.96 and a quick ratio of 1.22. The firm has a market capitalization of $4.60 billion, a price-to-earnings ratio of 26.53, a PEG ratio of 1.47 and a beta of 1.17.

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

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In other ESAB news, Director Rhonda L. Jordan sold 1,000 shares of the company’s stock in a transaction on Friday, August 7th. The shares were sold at an average price of $95.00, for a total transaction of $95,000.00. Following the transaction, the director owned 1,000 shares in the company, valued at approximately $95,000. This represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 7.20% of the company’s stock.

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.