Bank of New York Mellon Corp Takes $94.21 Million Position in ESAB Corporation $ESAB

Key Points

• Bank of New York Mellon initiated a $94.21 million position in ESAB during the second quarter, acquiring 955,188 shares, or 1.57% of the company. Institutional investors collectively own 91.13% of ESAB.
• ESAB’s latest quarter showed 12.9% year-over-year revenue growth to $807.63 million, exceeding estimates, but adjusted EPS of $1.33 missed expectations by $0.04. The company maintained fiscal 2026 EPS guidance of $5.40–$5.50.
• ESAB shares opened at $79.26, near their 52-week low of $77.34 and well below the $138.14 consensus analyst price target. Analysts maintain a “Moderate Buy” consensus, with seven Buy ratings and one Hold.

Bank of New York Mellon Corp purchased a new position in ESAB Corporation (NYSE:ESAB - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 955,188 shares of the company's stock, valued at approximately $94,210,000. Bank of New York Mellon Corp owned 1.57% of ESAB as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. TimesSquare Capital Management LLC boosted its position in ESAB by 37.8% in the fourth quarter. TimesSquare Capital Management LLC now owns 959,101 shares of the company's stock worth $107,151,000 after purchasing an additional 262,850 shares during the last quarter. Bessemer Group Inc. lifted its stake in shares of ESAB by 6,787.0% in the 4th quarter. Bessemer Group Inc. now owns 1,053,776 shares of the company's stock worth $117,730,000 after purchasing an additional 1,038,475 shares during the period. William Blair Investment Management LLC bought a new position in shares of ESAB in the 4th quarter worth approximately $22,905,000. Schwartz Investment Counsel Inc. purchased a new position in shares of ESAB in the fourth quarter worth approximately $8,938,000. Finally, Allspring Global Investments Holdings LLC purchased a new position in shares of ESAB in the first quarter worth approximately $9,606,000. Institutional investors own 91.13% of the company's stock.

Insider Buying and Selling at ESAB

In related news, Director Rhonda L. Jordan sold 1,000 shares of the firm's stock in a transaction 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 completion of the transaction, the director directly owned 1,000 shares of the company's stock, valued at approximately $95,000. This trade represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 7.20% of the company's stock.

ESAB Stock Performance

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 has a market capitalization of $4.93 billion, a price-to-earnings ratio of 28.41, a PEG ratio of 1.59 and a beta of 1.19. The company has a fifty day moving average of $90.34 and a 200 day moving average of $99.32. ESAB Corporation has a fifty-two week low of $77.34 and a fifty-two week high of $137.42.

ESAB (NYSE:ESAB - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The company reported $1.33 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 for the quarter, compared to the consensus estimate of $755.64 million. During the same period last year, the company earned $1.36 EPS. The firm'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. As a group, sell-side analysts forecast that ESAB Corporation will post 5.46 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. DA Davidson initiated coverage on shares of ESAB in a report on Monday, June 15th. They set a "buy" rating and a $130.00 target price for the company. Oppenheimer cut their price objective on shares of ESAB from $140.00 to $135.00 and set an "outperform" rating for the company in a research report on Tuesday, July 21st. Weiss Ratings lowered ESAB from a "hold (c)" rating to a "hold (c-)" rating in a research note on Tuesday, August 11th. Stifel Nicolaus decreased their target price on ESAB from $141.00 to $137.00 and set a "buy" rating on the stock in a report on Monday, July 20th. Finally, Roth Capital lifted their target price on ESAB from $142.00 to $151.00 and gave the company a "buy" rating in a research report on Tuesday, July 7th. Seven equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $138.14.

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.

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