ESAB Corporation (NYSE:ESAB) Director Sells $459,774.35 in Stock

Key Points

• ESAB Corporation Director Rhonda L. Jordan sold 4,067 shares of the stock for approximately $459,774.35 on August 13th, at an average price of $113.05 per share.
• The company's share price decreased 2.3% to $111.80 following the sale, with a reported market capitalization of $6.79 billion.
• ESAB's latest earnings report showed a net margin of 9.36% and revenue growth of 1.3% year-over-year, with earnings per share surpassing estimates.

ESAB Corporation (NYSE:ESAB - Get Free Report) Director Rhonda L. Jordan sold 4,067 shares of the stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $113.05, for a total value of $459,774.35. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

Rhonda L. Jordan also recently made the following trade(s):

• On Wednesday, June 11th, Rhonda L. Jordan sold 1,500 shares of ESAB stock. The shares were sold at an average price of $126.42, for a total transaction of $189,630.00.

ESAB Trading Down 2.3%

Shares of ESAB traded down $2.62 during trading hours on Thursday, hitting $111.80. 328,805 shares of the stock were exchanged, compared to its average volume of 317,362. ESAB Corporation has a fifty-two week low of $93.15 and a fifty-two week high of $135.97. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.95 and a quick ratio of 1.26. The business has a 50-day moving average of $124.25 and a 200-day moving average of $122.19. The firm has a market capitalization of $6.79 billion, a P/E ratio of 26.75, a price-to-earnings-growth ratio of 2.68 and a beta of 1.27.

ESAB (NYSE:ESAB - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported $1.36 earnings per share for the quarter, beating analysts' consensus estimates of $1.34 by $0.02. The company had revenue of $715.59 million for the quarter, compared to analyst estimates of $670.80 million. ESAB had a net margin of 9.36% and a return on equity of 16.32%. The firm's revenue was up 1.3% on a year-over-year basis. During the same period last year, the firm earned $1.32 earnings per share. On average, research analysts expect that ESAB Corporation will post 5.16 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Oppenheimer cut their target price on shares of ESAB from $144.00 to $142.00 and set an "outperform" rating for the company in a research note on Thursday, August 7th. JPMorgan Chase & Co. lowered their target price on shares of ESAB from $137.00 to $125.00 and set an "overweight" rating for the company in a report on Thursday, August 7th. Robert W. Baird set a $143.00 target price on shares of ESAB in a report on Friday, May 2nd. Stifel Nicolaus raised shares of ESAB from a "hold" rating to a "buy" rating and set a $141.00 price target for the company in a report on Thursday, August 7th. Finally, Evercore ISI boosted their price objective on shares of ESAB from $120.00 to $125.00 and gave the company an "in-line" rating in a research report on Monday, May 19th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $137.88.

Hedge Funds Weigh In On ESAB

Several hedge funds have recently made changes to their positions in ESAB. Caitong International Asset Management Co. Ltd purchased a new stake in shares of ESAB in the 1st quarter valued at $33,000. First Horizon Advisors Inc. raised its holdings in ESAB by 204.8% during the 1st quarter. First Horizon Advisors Inc. now owns 320 shares of the company's stock valued at $37,000 after buying an additional 215 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in ESAB by 109.4% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 333 shares of the company's stock worth $40,000 after purchasing an additional 174 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in ESAB by 706.7% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 363 shares of the company's stock worth $42,000 after purchasing an additional 318 shares in the last quarter. Finally, Kapitalo Investimentos Ltda bought a new position in ESAB in the 4th quarter worth $47,000. 91.13% of the stock is currently owned by hedge funds and other institutional investors.

About ESAB

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.

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