L2 Asset Management LLC Takes Position in ESAB Corporation $ESAB

L2 Asset Management LLC purchased a new position in ESAB Corporation (NYSE:ESAB) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 13,840 shares of the company’s stock, valued at approximately $1,365,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. BlackRock Inc. acquired a new position in ESAB in the 2nd quarter valued at approximately $524,533,000. Bessemer Group Inc. boosted its stake in shares of ESAB by 6,787.0% during the 4th quarter. Bessemer Group Inc. now owns 1,053,776 shares of the company’s stock valued at $117,730,000 after buying an additional 1,038,475 shares during the period. Bank of New York Mellon Corp purchased a new position in shares of ESAB during the 2nd quarter valued at $94,210,000. Norges Bank purchased a new position in shares of ESAB during the 4th quarter valued at $85,692,000. Finally, Capital Research Global Investors acquired a new position in shares of ESAB in the fourth quarter worth $69,099,000. 91.13% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ESAB has been the subject of several recent research reports. Oppenheimer cut their price objective on ESAB from $140.00 to $135.00 and set an “outperform” rating for the company in a report on Tuesday, July 21st. Weiss Ratings downgraded ESAB from a “hold (c)” rating to a “hold (c-)” rating in a research note on Tuesday, August 11th. 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 report on Monday, July 20th. Roth Capital raised their price target on ESAB from $142.00 to $151.00 and gave the stock a “buy” rating in a research note on Tuesday, July 7th. Finally, DA Davidson began coverage on ESAB in a research note on Monday, June 15th. They set a “buy” rating and a $130.00 price target for the company. Seven investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $138.14.

ESAB Trading Down 2.6%

Shares of NYSE:ESAB opened at $79.26 on Tuesday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.22 and a current ratio of 1.96. The stock’s 50-day moving average is $90.34 and its 200-day moving average is $99.32. The company has a market cap of $4.93 billion, a P/E ratio of 28.41, a P/E/G ratio of 1.59 and a beta of 1.19. ESAB Corporation has a 52-week low of $77.34 and a 52-week high of $137.42.

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

Insider Buying and Selling

In other ESAB news, Director Rhonda L. Jordan sold 1,000 shares of ESAB stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $95.00, for a total value of $95,000.00. Following the transaction, the director directly owned 1,000 shares of the company’s stock, valued at $95,000. The trade was a 50.00% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 7.20% of the stock is currently owned by corporate insiders.

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.