ESAB Corporation (NYSE:ESAB – Get Free Report) Director Rhonda Jordan sold 3,733 shares of the stock in a transaction that occurred on Thursday, November 5th. The shares were sold at an average price of $78.86, for a total transaction of $294,384.38. Following the completion of the transaction, the director directly owned 3,733 shares of the company’s stock, valued at $294,384.38. The trade was a 50.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.
ESAB Stock Performance
ESAB traded up $4.00 on Friday, reaching $83.12. 2,554,166 shares of the stock were exchanged, compared to its average volume of 753,427. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.92 and a quick ratio of 1.22. ESAB Corporation has a fifty-two week low of $62.74 and a fifty-two week high of $137.42. The firm has a market capitalization of $5.17 billion, a PE ratio of 33.65, a PEG ratio of 1.27 and a beta of 1.17. The company’s 50-day moving average price is $69.83 and its 200 day moving average price is $92.71.
ESAB (NYSE:ESAB – Get Free Report) last posted its quarterly earnings results on Wednesday, November 4th. The company reported $1.30 EPS for the quarter, missing the consensus estimate of $1.33 by ($0.03). ESAB had a net margin of 5.05% and a return on equity of 14.17%. The business had revenue of $824.52 million during the quarter, compared to analysts’ expectations of $786.68 million. During the same period in the previous year, the company posted $1.32 earnings per share. ESAB’s revenue for the quarter was up 13.3% compared to the same quarter last year. As a group, sell-side analysts forecast that ESAB Corporation will post 5.30 EPS for the current fiscal year.
ESAB Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, October 16th. Shareholders of record on Friday, October 2nd were issued a dividend of $0.12 per share. The ex-dividend date of this dividend was Friday, October 2nd. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.6%. ESAB’s dividend payout ratio is presently 19.43%.
Analysts Set New Price Targets
ESAB has been the topic of several recent research reports. Stifel Nicolaus set a $114.00 target price on ESAB in a report on Monday, October 19th. UBS Group dropped their target price on shares of ESAB from $145.00 to $115.00 and set a “buy” rating for the company in a report on Thursday. Weiss Ratings cut shares of ESAB from a “hold (c)” rating to a “hold (c-)” rating in a research report on Tuesday, August 11th. Oppenheimer decreased their target price on ESAB from $135.00 to $110.00 and set an “outperform” rating for the company in a report on Wednesday, October 21st. Finally, JPMorgan Chase & Co. reduced their price objective on shares of ESAB from $125.00 to $95.00 and set an “overweight” rating on the stock in a report on Thursday, October 8th. Seven research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $118.14.
View Our Latest Stock Report on ESAB
Institutional Inflows and Outflows
Several large investors have recently bought and sold shares of ESAB. BlackRock Inc. acquired a new stake in shares of ESAB in the 2nd quarter worth approximately $524,533,000. Bank of New York Mellon Corp purchased a new stake in shares of ESAB during the second quarter worth about $94,210,000. Cooke & Bieler LP grew its stake in ESAB by 73.3% in the 3rd quarter. Cooke & Bieler LP now owns 2,200,682 shares of the company’s stock worth $144,981,000 after acquiring an additional 930,955 shares during the period. TimesSquare Capital Management LLC purchased a new position in ESAB during the second quarter worth about $56,678,000. Finally, Diamond Hill Capital Management LLC Investment Advisor acquired a new stake in shares of ESAB in the second quarter worth approximately $51,843,000. Hedge funds and other institutional investors own 91.13% of the company’s stock.
ESAB Company Profile
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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