ESAB Corporation $ESAB Shares Bought by TimesSquare Capital Management LLC

Key Points

• TimesSquare Capital Management increased its ESAB stake by 37.8% in the fourth quarter, buying 262,850 more shares and bringing its total to 959,101 shares worth about $107.2 million.
• ESAB CEO Shyam Kambeyanda sold 59,404 shares for about $7.35 million, cutting his position by 37.3%.
• The company reported mixed quarterly results: EPS of $1.31 slightly missed estimates, while revenue of $745.6 million beat expectations and rose 10% year over year. ESAB also raised its quarterly dividend to $0.12 per share from $0.10.

TimesSquare Capital Management LLC raised its holdings in ESAB Corporation (NYSE:ESAB - Free Report) by 37.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 959,101 shares of the company's stock after acquiring an additional 262,850 shares during the period. ESAB makes up approximately 1.6% of TimesSquare Capital Management LLC's investment portfolio, making the stock its 10th largest position. TimesSquare Capital Management LLC owned about 1.58% of ESAB worth $107,151,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. Thrivent Financial for Lutherans raised its holdings in ESAB by 0.7% in the 2nd quarter. Thrivent Financial for Lutherans now owns 13,417 shares of the company's stock valued at $1,617,000 after acquiring an additional 95 shares during the last quarter. Xponance Inc. raised its holdings in ESAB by 1.6% in the 3rd quarter. Xponance Inc. now owns 6,488 shares of the company's stock valued at $725,000 after acquiring an additional 102 shares during the last quarter. Public Employees Retirement System of Ohio raised its holdings in ESAB by 0.5% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 19,605 shares of the company's stock valued at $2,191,000 after acquiring an additional 107 shares during the last quarter. Coldstream Capital Management Inc. raised its holdings in ESAB by 5.9% in the 3rd quarter. Coldstream Capital Management Inc. now owns 2,689 shares of the company's stock valued at $300,000 after acquiring an additional 149 shares during the last quarter. Finally, Lafayette Investments Inc. raised its holdings in ESAB by 0.5% in the 4th quarter. Lafayette Investments Inc. now owns 34,266 shares of the company's stock valued at $3,828,000 after acquiring an additional 161 shares during the last quarter. Institutional investors and hedge funds own 91.13% of the company's stock.

Insiders Place Their Bets

In related news, CEO Shyam Kambeyanda sold 59,404 shares of ESAB stock in a transaction that occurred on Monday, February 23rd. The shares were sold at an average price of $123.79, for a total value of $7,353,621.16. Following the completion of the sale, the chief executive officer owned 99,864 shares in the company, valued at approximately $12,362,164.56. This trade represents a 37.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 7.20% of the company's stock.

ESAB Stock Down 0.7%

ESAB stock opened at $87.99 on Tuesday. The firm has a market cap of $5.36 billion, a PE ratio of 26.03, a PEG ratio of 1.63 and a beta of 1.24. The company has a debt-to-equity ratio of 0.91, a quick ratio of 2.26 and a current ratio of 2.97. The firm's 50 day moving average price is $99.27 and its 200-day moving average price is $111.17. ESAB Corporation has a one year low of $87.76 and a one year high of $137.42.

ESAB (NYSE:ESAB - Get Free Report) last released its quarterly earnings results on Thursday, May 7th. The company reported $1.31 EPS for the quarter, missing the consensus estimate of $1.32 by ($0.01). The firm had revenue of $745.60 million for the quarter, compared to analysts' expectations of $706.74 million. ESAB had a net margin of 7.11% and a return on equity of 15.04%. The firm's quarterly revenue was up 10.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.25 EPS. On average, equities research analysts anticipate that ESAB Corporation will post 5.81 EPS for the current year.

ESAB Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 17th. Investors of record on Friday, July 3rd will be issued a $0.12 dividend. This is a boost from ESAB's previous quarterly dividend of $0.10. The ex-dividend date is Thursday, July 2nd. This represents a $0.48 annualized dividend and a yield of 0.5%. ESAB's payout ratio is 11.83%.

Wall Street Analyst Weigh In

ESAB has been the subject of a number of recent research reports. Oppenheimer reiterated an "outperform" rating and issued a $140.00 price objective on shares of ESAB in a report on Tuesday, April 14th. Wall Street Zen downgraded shares of ESAB from a "buy" rating to a "hold" rating in a report on Saturday, March 21st. Weiss Ratings lowered shares of ESAB from a "hold (c+)" rating to a "hold (c)" rating in a research report on Monday, April 27th. Stifel Nicolaus set a $141.00 price target on shares of ESAB in a research report on Friday, May 8th. Finally, DA Davidson reduced their price target on shares of ESAB from $146.00 to $142.00 and set a "buy" rating on the stock in a research report on Thursday, April 16th. Eight research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, ESAB presently has an average rating of "Moderate Buy" and a consensus price target of $139.88.

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.

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