ESAB Co. (NYSE:ESAB) CEO Shyam Kambeyanda Sells 59,120 Shares

ESAB Co. (NYSE:ESAB) CEO Shyam Kambeyanda sold 59,120 shares of the company’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $122.96, for a total transaction of $7,269,395.20. Following the sale, the chief executive officer now directly owns 53,902 shares of the company’s stock, valued at approximately $6,627,789.92. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

ESAB Stock Down 1.9 %

NYSE:ESAB traded down $2.37 on Thursday, hitting $123.06. The stock had a trading volume of 402,407 shares, compared to its average volume of 250,442. The company has a quick ratio of 1.21, a current ratio of 1.86 and a debt-to-equity ratio of 0.62. ESAB Co. has a 52 week low of $62.57 and a 52 week high of $127.33. The business’s fifty day moving average is $105.22 and its 200 day moving average is $101.91. The company has a market cap of $7.44 billion, a PE ratio of 28.81, a P/E/G ratio of 1.93 and a beta of 1.42.

ESAB (NYSE:ESAB) last released its quarterly earnings data on Tuesday, October 29th. The company reported $1.25 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.13. ESAB had a net margin of 9.06% and a return on equity of 17.49%. The firm had revenue of $673.00 million for the quarter, compared to the consensus estimate of $620.50 million. During the same quarter in the prior year, the company posted $1.08 earnings per share. The business’s revenue was down 1.2% on a year-over-year basis. On average, equities research analysts expect that ESAB Co. will post 4.83 EPS for the current fiscal year.

ESAB Announces Dividend

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

Hedge Funds Weigh In On ESAB

A number of hedge funds and other institutional investors have recently modified their holdings of ESAB. Price T Rowe Associates Inc. MD grew its position in ESAB by 11.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 6,424,115 shares of the company’s stock valued at $710,316,000 after buying an additional 653,377 shares during the period. Champlain Investment Partners LLC bought a new position in shares of ESAB during the 1st quarter valued at approximately $33,811,000. International Assets Investment Management LLC purchased a new stake in shares of ESAB during the 3rd quarter worth approximately $15,110,000. Acadian Asset Management LLC raised its holdings in shares of ESAB by 2,277.5% in the 1st quarter. Acadian Asset Management LLC now owns 93,770 shares of the company’s stock worth $10,359,000 after purchasing an additional 89,826 shares during the period. Finally, Cubist Systematic Strategies LLC bought a new stake in shares of ESAB in the 2nd quarter worth approximately $8,277,000. Hedge funds and other institutional investors own 91.13% of the company’s stock.

Wall Street Analysts Forecast Growth

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