ESAB Corporation (NYSE:ESAB) Insider Sells $192,225.60 in Stock

Key Points

• ESAB Corporation insider Olivier Biebuyck sold 1,440 shares of stock at an average price of $133.49, resulting in a total transaction value of $192,225.60 and an 8.76% decrease in their ownership.
• The company reported a net margin of 9.98% and a revenue of $678.14 million for the last quarter, surpassing analyst estimates.
• ESAB recently increased its quarterly dividend from $0.08 to $0.10 per share, translating to a 0.3% yield.

ESAB Corporation (NYSE:ESAB - Get Free Report) insider Olivier Biebuyck sold 1,440 shares of the stock in a transaction on Thursday, July 31st. The shares were sold at an average price of $133.49, for a total value of $192,225.60. Following the completion of the sale, the insider owned 14,989 shares in the company, valued at approximately $2,000,881.61. The trade was a 8.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Olivier Biebuyck also recently made the following trade(s):

• On Monday, May 12th, Olivier Biebuyck sold 1,417 shares of ESAB stock. The stock was sold at an average price of $131.15, for a total transaction of $185,839.55.

ESAB Stock Down 0.2%

ESAB stock traded down $0.24 during midday trading on Tuesday, hitting $130.79. 93,538 shares of the stock were exchanged, compared to its average volume of 294,784. ESAB Corporation has a 1 year low of $92.46 and a 1 year high of $135.97. The firm has a market cap of $7.93 billion, a P/E ratio of 29.44, a P/E/G ratio of 3.15 and a beta of 1.27. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.91 and a quick ratio of 1.24. The company has a 50 day moving average price of $125.50 and a two-hundred day moving average price of $122.65.

ESAB Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 18th. Shareholders of record on Thursday, July 3rd were issued a dividend of $0.10 per share. The ex-dividend date of this dividend was Thursday, July 3rd. This represents a $0.40 annualized dividend and a yield of 0.3%. This is an increase from ESAB's previous quarterly dividend of $0.08. ESAB's dividend payout ratio (DPR) is 9.01%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on ESAB shares. Stifel Nicolaus boosted their target price on shares of ESAB from $126.00 to $141.00 and gave the stock a "hold" rating in a research note on Monday, July 21st. Evercore ISI boosted their price target 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. Finally, Robert W. Baird set a $143.00 price target on shares of ESAB in a research report on Friday, May 2nd. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $138.89.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Caitong International Asset Management Co. Ltd acquired a new position in shares of ESAB in the 1st quarter valued at about $33,000. First Horizon Advisors Inc. boosted its stake 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 purchasing an additional 215 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in ESAB by 706.7% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 363 shares of the company's stock valued at $42,000 after purchasing an additional 318 shares during the period. Kapitalo Investimentos Ltda acquired a new position in ESAB during the 4th quarter valued at about $47,000. Finally, Farther Finance Advisors LLC boosted its stake in ESAB by 1,128.9% during the 1st quarter. Farther Finance Advisors LLC now owns 467 shares of the company's stock valued at $56,000 after purchasing an additional 429 shares during the period. 91.13% of the stock is owned by institutional investors and hedge funds.

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.