Fenimore Asset Management Inc Raises Stock Holdings in ESAB Corporation $ESAB

Key Points

• Fenimore Asset Management increased its ESAB stake by 75.7% during the third quarter, owning 248,030 shares worth approximately $16.34 million. Institutional investors collectively hold 91.13% of the company.
• ESAB reported quarterly revenue of $807.63 million, up 12.9% year over year and above analyst estimates, but earnings of $1.33 per share fell short of the $1.37 consensus. Shares recently traded at $64.86, near the company’s one-year low.
• Analysts maintain a consensus “Moderate Buy” rating with an average price target of $129.86, while ESAB announced a quarterly dividend of $0.12 per share, representing a 0.7% yield.

Fenimore Asset Management Inc raised its stake in shares of ESAB Corporation (NYSE:ESAB - Free Report) by 75.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 248,030 shares of the company's stock after buying an additional 106,892 shares during the quarter. Fenimore Asset Management Inc owned about 0.40% of ESAB worth $16,340,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Global Retirement Partners LLC acquired a new stake in shares of ESAB in the 2nd quarter valued at approximately $76,000. EverSource Wealth Advisors LLC increased its stake in ESAB by 25.5% in the first quarter. EverSource Wealth Advisors LLC now owns 865 shares of the company's stock valued at $84,000 after purchasing an additional 176 shares in the last quarter. Ascentis Independent Advisors acquired a new stake in ESAB in the first quarter worth $105,000. Northwestern Mutual Wealth Management Co. acquired a new stake in ESAB in the second quarter worth $151,000. Finally, Nykredit A S bought a new position in shares of ESAB during the second quarter worth $197,000. 91.13% of the stock is owned by institutional investors.

ESAB Stock Performance

Shares of ESAB traded down $2.26 during mid-day trading on Thursday, reaching $64.86. The company's stock had a trading volume of 2,511,645 shares, compared to its average volume of 699,692. The company has a current ratio of 1.96, a quick ratio of 1.22 and a debt-to-equity ratio of 0.99. The business has a 50-day simple moving average of $76.51 and a two-hundred day simple moving average of $88.31. ESAB Corporation has a 1-year low of $62.74 and a 1-year high of $137.42. The stock has a market cap of $4.03 billion, a P/E ratio of 23.25, a PEG ratio of 1.13 and a beta of 1.19.

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 during the quarter, compared to analyst estimates of $755.64 million. During the same quarter in the prior year, the firm earned $1.36 earnings per share. 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. As a group, equities research analysts anticipate that ESAB Corporation will post 5.46 earnings per share for the current fiscal year.

ESAB Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 16th. Shareholders of record on Friday, October 2nd will be given a dividend of $0.12 per share. The ex-dividend date is Friday, October 2nd. This represents a $0.48 annualized dividend and a yield of 0.7%. ESAB's dividend payout ratio (DPR) is presently 17.20%.

Insider Buying and Selling

In other ESAB news, Director Rhonda L. Jordan sold 1,000 shares of ESAB stock in a transaction dated 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 sale, the director owned 1,000 shares in the company, valued at $95,000. The trade was a 50.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 7.20% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Stifel Nicolaus decreased their price target on shares of ESAB from $141.00 to $137.00 and set a "buy" rating for the company in a report on Monday, July 20th. JPMorgan Chase & Co. reduced their target price on ESAB from $125.00 to $95.00 and set an "overweight" rating on the stock in a report on Thursday. Weiss Ratings cut ESAB from a "hold (c)" rating to a "hold (c-)" rating in a research note on Tuesday, August 11th. Oppenheimer dropped their price target on ESAB from $140.00 to $135.00 and set an "outperform" rating on the stock in a research report on Tuesday, July 21st. Finally, Roth Capital reiterated a "buy" rating and set a $133.00 price objective (down from $151.00) on shares of ESAB in a report on Tuesday, September 15th. Seven equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $129.86.

ESAB Company Profile

ESAB Corporation NYSE: ESAB is a global provider of welding and cutting technologies. The company develops and manufactures equipment, consumable products and related solutions used to join, cut and protect metals in industrial, construction, infrastructure, transportation and other applications.

Its product portfolio includes welding systems, cutting machines, welding electrodes and wires, gas-control equipment, automation technologies, protective equipment and accessories. ESAB markets its products under brands that include ESAB, Victor, Tweco, Stoody and Thermal Dynamics, serving customers through direct sales, distributors and other channels.

The company traces its origins to 1904, when Swedish inventor Oscar Kjellberg developed a coated welding electrode.

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