Defender Capital LLC. Acquires 2,867 Shares of ESAB Corporation $ESAB

Key Points

• Defender Capital LLC. increased its stake in ESAB Corporation by 10.3%, acquiring an additional 2,867 shares in the second quarter, bringing its total holdings to 30,737 shares.
• ESAB reported a net revenue of $715.59 million in its latest quarterly results, surpassing analyst expectations of $670.80 million, along with earnings per share of $1.36.
• The company announced a quarterly dividend of $0.10 per share, with a payout scheduled for October 17th, reflecting a dividend yield of 0.3%.

Defender Capital LLC. increased its holdings in shares of ESAB Corporation (NYSE:ESAB - Free Report) by 10.3% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 30,737 shares of the company's stock after acquiring an additional 2,867 shares during the quarter. ESAB comprises about 1.3% of Defender Capital LLC.'s investment portfolio, making the stock its 15th largest holding. Defender Capital LLC. owned approximately 0.05% of ESAB worth $3,705,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Envestnet Portfolio Solutions Inc. boosted its position in ESAB by 154.3% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 10,142 shares of the company's stock worth $1,223,000 after buying an additional 6,154 shares during the period. Vest Financial LLC bought a new stake in shares of ESAB in the 2nd quarter valued at $1,071,000. Lawson Kroeker Investment Management Inc. NE increased its stake in ESAB by 4.7% during the 2nd quarter. Lawson Kroeker Investment Management Inc. NE now owns 13,768 shares of the company's stock valued at $1,660,000 after purchasing an additional 612 shares in the last quarter. Fifth Third Wealth Advisors LLC bought a new stake in ESAB during the 2nd quarter valued at $206,000. Finally, Cross Staff Investments Inc bought a new stake in shares of ESAB in the 2nd quarter worth $201,000. 91.13% of the stock is owned by institutional investors.

Insider Transactions at ESAB

In other ESAB news, insider Olivier Biebuyck sold 1,440 shares of the stock in a transaction dated Thursday, July 31st. The stock was sold at an average price of $133.49, for a total value of $192,225.60. Following the completion of the sale, the insider directly owned 14,989 shares in the company, valued at approximately $2,000,881.61. This trade represents a 8.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Rhonda L. Jordan sold 4,067 shares of the firm's stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $113.05, for a total value of $459,774.35. The disclosure for this sale can be found here. Company insiders own 7.30% of the company's stock.

ESAB Stock Down 0.0%

Shares of ESAB opened at $115.94 on Tuesday. The stock has a market capitalization of $7.04 billion, a price-to-earnings ratio of 27.74, a price-to-earnings-growth ratio of 2.54 and a beta of 1.23. ESAB Corporation has a 1 year low of $100.17 and a 1 year high of $135.97. The business's 50 day simple moving average is $113.69 and its 200-day simple moving average is $119.50. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.95 and a quick ratio of 1.26.

ESAB (NYSE:ESAB - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported $1.36 earnings per share for the quarter, beating the consensus estimate of $1.34 by $0.02. The company had revenue of $715.59 million for the quarter, compared to analyst estimates of $670.80 million. ESAB had a return on equity of 16.32% and a net margin of 9.36%.ESAB's quarterly revenue was up 1.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.32 EPS. As a group, equities analysts expect that ESAB Corporation will post 5.16 earnings per share for the current fiscal year.

ESAB Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 17th. Investors of record on Friday, October 3rd will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date is Friday, October 3rd. ESAB's dividend payout ratio is 9.57%.

Wall Street Analyst Weigh In

Several research firms have commented on ESAB. Wall Street Zen raised shares of ESAB from a "hold" rating to a "buy" rating in a report on Saturday, October 4th. Oppenheimer reduced their price target on shares of ESAB from $144.00 to $142.00 and set an "outperform" rating on the stock in a research report on Thursday, August 7th. JPMorgan Chase & Co. cut their target price on shares of ESAB from $137.00 to $125.00 and set an "overweight" rating on the stock in a report on Thursday, August 7th. Roth Capital initiated coverage on shares of ESAB in a report on Friday, September 5th. They issued a "buy" rating and a $150.00 price target on the stock. Finally, Zacks Research cut shares of ESAB from a "strong-buy" rating to a "hold" rating in a report on Monday, August 18th. Eight analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $141.44.

ESAB Profile

ESAB Corporation engages in the formulation, development, manufacture, and supply of consumable products and equipment for use in cutting, joining, automated welding, and gas control equipment. Its comprehensive range of welding consumables includes electrodes, cored and solid wires, and fluxes using a range of specialty and other materials; and cutting consumables comprising electrodes, nozzles, shields, and tips.

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