ESAB Co. (NYSE:ESAB) Director Sells $531,877.62 in Stock

ESAB Co. (NYSE:ESAB) Director Rhonda L. Jordan sold 4,254 shares of the business’s stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $125.03, for a total transaction of $531,877.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

ESAB Price Performance

Shares of ESAB stock traded up $0.45 on Friday, hitting $123.49. 301,698 shares of the company traded hands, compared to its average volume of 250,684. The company has a market cap of $7.46 billion, a P/E ratio of 29.11, a P/E/G ratio of 2.16 and a beta of 1.42. The firm’s 50-day simple moving average is $105.67 and its 200 day simple moving average is $102.06. The company has a current ratio of 1.92, a quick ratio of 1.21 and a debt-to-equity ratio of 0.58. ESAB Co. has a 12-month low of $70.78 and a 12-month high of $127.33.

ESAB (NYSE:ESAB) last released its quarterly earnings results on Tuesday, October 29th. The company reported $1.25 EPS for the quarter, beating the consensus estimate of $1.12 by $0.13. The firm had revenue of $673.00 million during the quarter, compared to analyst estimates of $620.50 million. ESAB had a net margin of 9.47% and a return on equity of 17.27%. The business’s revenue for the quarter was down 1.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.08 EPS. Analysts expect that ESAB Co. will post 4.88 earnings per share for the current fiscal year.

ESAB Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Friday, September 27th were given a dividend of $0.08 per share. The ex-dividend date of this dividend was Friday, September 27th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.26%. ESAB’s payout ratio is currently 7.49%.

Institutional Trading of ESAB

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Susquehanna Fundamental Investments LLC purchased a new stake in ESAB in the 1st quarter worth approximately $3,913,000. Allspring Global Investments Holdings LLC boosted its holdings in shares of ESAB by 6.3% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 402,903 shares of the company’s stock valued at $44,549,000 after buying an additional 23,825 shares during the period. Russell Investments Group Ltd. lifted its position in ESAB by 37.7% in the 1st quarter. Russell Investments Group Ltd. now owns 116,097 shares of the company’s stock valued at $12,836,000 after purchasing an additional 31,780 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in ESAB by 11.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,424,115 shares of the company’s stock valued at $710,316,000 after purchasing an additional 653,377 shares in the last quarter. Finally, Edgestream Partners L.P. increased its stake in ESAB by 44.3% in the 2nd quarter. Edgestream Partners L.P. now owns 64,239 shares of the company’s stock worth $6,066,000 after purchasing an additional 19,721 shares in the last quarter. Institutional investors and hedge funds own 91.13% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on ESAB. Loop Capital upped their target price on shares of ESAB from $105.00 to $120.00 and gave the company a “hold” rating in a research report on Wednesday. Evercore ISI decreased their price target on ESAB from $107.00 to $102.00 and set an “in-line” rating on the stock in a research note on Monday, August 19th. Bank of America increased their target price on ESAB from $115.00 to $130.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. Oppenheimer reaffirmed an “outperform” rating and issued a $138.00 target price (up from $122.00) on shares of ESAB in a research report on Wednesday. Finally, JPMorgan Chase & Co. increased their price target on ESAB from $120.00 to $128.00 and gave the company an “overweight” rating in a research report on Monday, September 30th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, ESAB currently has an average rating of “Moderate Buy” and an average target price of $119.00.

ESAB Company 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.