Man Group plc acquired a new stake in shares of ESAB Corporation (NYSE:ESAB – Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 8,704 shares of the company’s stock, valued at approximately $858,000.
A number of other hedge funds also recently bought and sold shares of the business. Los Angeles Capital Management LLC acquired a new position in shares of ESAB during the 4th quarter worth approximately $33,000. Northwestern Mutual Wealth Management Co. lifted its position in ESAB by 109.4% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 333 shares of the company’s stock worth $40,000 after buying an additional 174 shares in the last quarter. Smartleaf Asset Management LLC boosted its stake in ESAB by 259.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 381 shares of the company’s stock worth $43,000 after buying an additional 275 shares during the last quarter. Global Retirement Partners LLC boosted its stake in ESAB by 3,023.1% during the fourth quarter. Global Retirement Partners LLC now owns 406 shares of the company’s stock worth $45,000 after buying an additional 393 shares during the last quarter. Finally, UMB Bank n.a. grew its holdings in ESAB by 185.3% in the 4th quarter. UMB Bank n.a. now owns 642 shares of the company’s stock valued at $72,000 after buying an additional 417 shares in the last quarter. Institutional investors and hedge funds own 91.13% of the company’s stock.
Analyst Ratings Changes
Several research firms have recently commented on ESAB. Weiss Ratings lowered ESAB from a “hold (c)” rating to a “hold (c-)” rating in a report on Tuesday, August 11th. Stifel Nicolaus dropped their price objective 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. 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. Roth Capital lifted their target price on shares of ESAB from $142.00 to $151.00 and gave the stock a “buy” rating in a research note on Tuesday, July 7th. Finally, DA Davidson assumed coverage on shares of ESAB in a research note on Monday, June 15th. They issued a “buy” rating and a $130.00 price target for the company. Seven analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $138.14.
ESAB Stock Performance
Shares of ESAB stock opened at $74.81 on Friday. ESAB Corporation has a 52 week low of $73.21 and a 52 week high of $137.42. The business’s fifty day simple moving average is $86.46 and its 200-day simple moving average is $96.18. The firm has a market cap of $4.65 billion, a PE ratio of 26.81, a price-to-earnings-growth ratio of 1.44 and a beta of 1.17. The company has a quick ratio of 1.22, a current ratio of 1.96 and a debt-to-equity ratio of 0.99.
ESAB (NYSE:ESAB – Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The company reported $1.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $755.64 million. During the same period in the previous year, the business posted $1.36 earnings per share. The firm’s revenue for the quarter was up 12.9% compared to the same quarter last year. ESAB has set its FY 2026 guidance at 5.400-5.500 EPS. Equities analysts forecast that ESAB Corporation will post 5.46 earnings per share for the current year.
Insider Activity
In other news, Director Rhonda L. Jordan sold 1,000 shares of the company’s stock in a transaction that occurred 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 transaction, the director directly owned 1,000 shares in the company, valued at approximately $95,000. This represents a 50.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 7.20% of the company’s stock.
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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