Boston Trust Walden Corp Makes New Investment in ESAB Corporation $ESAB

Boston Trust Walden Corp acquired a new stake in shares of ESAB Corporation (NYSE:ESAB) during the first quarter, according to its most recent filing with the SEC. The fund acquired 239,607 shares of the company’s stock, valued at approximately $23,160,000.

Other large investors have also recently modified their holdings of the company. Bessemer Group Inc. grew its stake in ESAB by 6,787.0% in the fourth quarter. Bessemer Group Inc. now owns 1,053,776 shares of the company’s stock valued at $117,730,000 after purchasing an additional 1,038,475 shares during the last quarter. Norges Bank purchased a new stake in shares of ESAB during the 4th quarter worth about $85,692,000. Capital Research Global Investors purchased a new position in ESAB during the fourth quarter valued at $69,099,000. Price T Rowe Associates Inc. MD increased its position in shares of ESAB by 11.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,852,692 shares of the company’s stock worth $653,864,000 after purchasing an additional 613,327 shares in the last quarter. Finally, Durable Capital Partners LP lifted its stake in ESAB by 40.5% in the 3rd quarter. Durable Capital Partners LP now owns 1,945,854 shares of the company’s stock worth $217,430,000 after purchasing an additional 560,678 shares in the last quarter. Institutional investors own 91.13% of the company’s stock.

Wall Street Analysts Forecast Growth

ESAB has been the topic of several research analyst reports. Oppenheimer reiterated an “outperform” rating and issued a $140.00 price objective on shares of ESAB in a report on Tuesday, April 14th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $130.00 target price (down from $150.00) on shares of ESAB in a report on Tuesday, March 31st. Stifel Nicolaus set a $141.00 price target on ESAB in a research note on Friday, May 8th. Roth Mkm set a $142.00 price objective on ESAB in a report on Thursday, April 16th. Finally, Weiss Ratings downgraded shares of ESAB from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday, April 27th. 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.com, ESAB presently has a consensus rating of “Moderate Buy” and an average price target of $138.38.

ESAB Trading Up 0.2%

Shares of NYSE ESAB opened at $92.99 on Friday. The company has a market cap of $5.66 billion, a price-to-earnings ratio of 27.51, a P/E/G ratio of 1.70 and a beta of 1.17. The business has a fifty day simple moving average of $94.98 and a 200-day simple moving average of $106.96. The company has a quick ratio of 2.26, a current ratio of 2.97 and a debt-to-equity ratio of 0.91. ESAB Corporation has a 12 month low of $82.18 and a 12 month high of $137.42.

ESAB (NYSE:ESAB) last released its quarterly earnings data 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). ESAB had a net margin of 7.11% and a return on equity of 15.04%. The business had revenue of $745.60 million during the quarter, compared to analyst estimates of $706.74 million. During the same period in the previous year, the firm posted $1.25 EPS. The firm’s revenue for the quarter was up 10.0% on a year-over-year basis. Sell-side analysts predict that ESAB Corporation will post 5.82 EPS for the current year.

ESAB Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 17th. Stockholders of record on Friday, July 3rd will be paid a $0.12 dividend. This is a boost from ESAB’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend is Thursday, July 2nd. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.5%. ESAB’s dividend payout ratio (DPR) is currently 14.20%.

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.