Pullen Investment Management LLC Purchases 24,528 Shares of ESAB Corporation $ESAB

Key Points

• Pullen Investment Management purchased 24,528 ESAB shares worth approximately $1.6 million, while institutional investors collectively own 91.13% of the company.
• Analysts maintain a “Moderate Buy” consensus on ESAB, with six Buy ratings and one Hold rating; the average price target is $118.67 despite several recent target reductions.
• ESAB shares opened at $66.99, near the bottom of their 52-week range. The company recently reported revenue growth of 12.9% year over year, missed quarterly EPS estimates slightly, and pays a $0.12 quarterly dividend yielding about 0.7%.

Pullen Investment Management LLC purchased a new stake in ESAB Corporation (NYSE:ESAB - Free Report) in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor purchased 24,528 shares of the company's stock, valued at approximately $1,616,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. BlackRock Inc. purchased a new stake in shares of ESAB in the second quarter worth about $524,533,000. Cooke & Bieler LP raised its holdings in shares of ESAB by 73.3% during the 3rd quarter. Cooke & Bieler LP now owns 2,200,682 shares of the company's stock valued at $144,981,000 after buying an additional 930,955 shares during the period. Bessemer Group Inc. lifted its position in ESAB by 16.3% during the 1st quarter. Bessemer Group Inc. now owns 1,225,702 shares of the company's stock worth $118,475,000 after acquiring an additional 171,926 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in ESAB by 2.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,215,909 shares of the company's stock worth $117,500,000 after acquiring an additional 34,383 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in ESAB by 21.7% during the 1st quarter. Bank of New York Mellon Corp now owns 984,297 shares of the company's stock worth $95,142,000 after acquiring an additional 175,398 shares in the last quarter. Institutional investors and hedge funds own 91.13% of the company's stock.

Analyst Ratings Changes

Several brokerages have issued reports on ESAB. Stifel Nicolaus set a $114.00 price objective on shares of ESAB in a research report on Monday, October 19th. Oppenheimer dropped their price objective on shares of ESAB from $135.00 to $110.00 and set an "outperform" rating on the stock in a research note on Wednesday. Weiss Ratings cut shares of ESAB from a "hold (c)" rating to a "hold (c-)" rating in a research report on Tuesday, August 11th. JPMorgan Chase & Co. decreased their target price on shares of ESAB from $125.00 to $95.00 and set an "overweight" rating for the company in a research note on Thursday, October 8th. Finally, Roth Capital restated a "buy" rating and issued a $133.00 target price (down from $151.00) on shares of ESAB in a research note on Tuesday, September 15th. Six analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, ESAB has a consensus rating of "Moderate Buy" and a consensus price target of $118.67.

ESAB Stock Up 0.1%

Shares of ESAB stock opened at $66.99 on Monday. ESAB Corporation has a 1-year low of $62.74 and a 1-year high of $137.42. The company has a market capitalization of $4.16 billion, a PE ratio of 24.01, a P/E/G ratio of 1.06 and a beta of 1.19. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.96 and a quick ratio of 1.22. The business has a 50-day moving average of $70.96 and a 200-day moving average of $85.79.

ESAB (NYSE:ESAB - Get Free Report) last released its quarterly earnings results 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 return on equity of 14.48% and a net margin of 5.75%. The business had revenue of $807.63 million during the quarter, compared to analyst estimates of $755.64 million. During the same quarter last year, the firm posted $1.36 EPS. The company's revenue was up 12.9% compared to the same quarter last year. ESAB has set its FY 2026 guidance at 5.400-5.500 EPS. As a group, equities analysts forecast that ESAB Corporation will post 5.40 EPS for the current fiscal year.

ESAB Dividend Announcement

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

Insider Transactions at ESAB

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 transaction of $95,000.00. Following the sale, the director directly owned 1,000 shares in the company, valued at $95,000. The trade was a 50.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 7.20% of the stock is owned by corporate insiders.

About ESAB

ESAB Corporation NYSE: ESAB is a global provider of welding and cutting technologies. The company develops and supplies equipment, consumables, automation solutions and related products used to join, cut and process metals across industrial and commercial applications.

Its product portfolio includes welding machines, cutting systems, welding electrodes and wires, filler metals, gas-control equipment, plasma and oxyfuel technologies, and digital or automated solutions. ESAB also offers products and services designed to support fabrication, manufacturing, construction, transportation, energy and maintenance operations.

ESAB serves customers in the Americas, Europe, the Middle East, Africa and the Asia-Pacific region through a portfolio of established brands and distribution channels.

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