Rhonda L. Jordan Sells 4,067 Shares of ESAB (NYSE:ESAB) 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 business's stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $113.05, for a total value of $459,774.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

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 stock was sold at an average price of $126.42, for a total transaction of $189,630.00.

ESAB Trading Up 2.6%

Shares of NYSE ESAB traded up $2.8920 during mid-day trading on Tuesday, hitting $113.1420. The stock had a trading volume of 654,010 shares, compared to its average volume of 470,219. The business has a 50 day moving average price of $123.05 and a two-hundred day moving average price of $121.87. ESAB Corporation has a 1 year low of $93.15 and a 1 year high of $135.97. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.26 and a current ratio of 1.95. The firm has a market cap of $6.87 billion, a P/E ratio of 27.07, a price-to-earnings-growth ratio of 2.63 and a beta of 1.27.

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

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of ESAB. Sumitomo Mitsui Trust Group Inc. raised its stake in ESAB by 3.1% during the second quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,693 shares of the company's stock valued at $325,000 after purchasing an additional 81 shares in the last quarter. State of Michigan Retirement System increased its holdings in shares of ESAB by 0.7% in the 1st quarter. State of Michigan Retirement System now owns 13,602 shares of the company's stock worth $1,585,000 after buying an additional 100 shares during the last quarter. Louisiana State Employees Retirement System increased its holdings in shares of ESAB by 0.6% in the 1st quarter. Louisiana State Employees Retirement System now owns 15,900 shares of the company's stock worth $1,852,000 after buying an additional 100 shares during the last quarter. ProShare Advisors LLC raised its position in shares of ESAB by 4.4% during the 2nd quarter. ProShare Advisors LLC now owns 2,527 shares of the company's stock valued at $305,000 after buying an additional 106 shares in the last quarter. Finally, Ellevest Inc. lifted its holdings in shares of ESAB by 3.8% in the 2nd quarter. Ellevest Inc. now owns 3,150 shares of the company's stock valued at $380,000 after acquiring an additional 114 shares during the last quarter. 91.13% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Robert W. Baird set a $143.00 price target on ESAB in a research report on Friday, May 2nd. JPMorgan Chase & Co. reduced their target price on ESAB from $137.00 to $125.00 and set an "overweight" rating on the stock in a research note on Thursday, August 7th. Oppenheimer decreased their target price on ESAB from $144.00 to $142.00 and set an "outperform" rating for the company in a report on Thursday, August 7th. Evercore ISI lifted their price target on shares of ESAB from $120.00 to $125.00 and gave the company an "in-line" rating in a report on Monday, May 19th. Finally, Stifel Nicolaus upgraded shares of ESAB from a "hold" rating to a "buy" rating and set a $141.00 price objective for the company in a report on Thursday, August 7th. Five equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, ESAB has an average rating of "Moderate Buy" and an average price target of $137.88.

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.