ESAB (NYSE:ESAB) Director Rhonda Jordan Sells 3,733 Shares of Stock

Key Points

• ESAB Director Rhonda Jordan sold 3,733 shares at an average price of $78.86, totaling about $294,384. The sale cut her ownership by 50%, leaving her with 3,733 shares.
• ESAB reported quarterly EPS of $1.30, below the $1.33 consensus estimate, while revenue of $824.52 million exceeded forecasts and rose 13.3% year over year.
• Shares rose 5.1% to $83.12 in Friday trading. Analysts have a “Moderate Buy” consensus rating and an average price target of $118.14.

ESAB Corporation (NYSE:ESAB - Get Free Report) Director Rhonda Jordan sold 3,733 shares of the business's stock in a transaction that occurred on Thursday, November 5th. The stock was sold at an average price of $78.86, for a total transaction of $294,384.38. Following the completion of the sale, the director owned 3,733 shares in the company, valued at $294,384.38. The trade was a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

ESAB Trading Up 5.1%

ESAB stock traded up $4.00 during mid-day trading on Friday, reaching $83.12. 2,554,166 shares of the stock traded hands, compared to its average volume of 753,427. ESAB Corporation has a 52-week low of $62.74 and a 52-week high of $137.42. The stock's fifty day moving average is $69.83 and its 200-day moving average is $92.71. The company has a current ratio of 1.92, a quick ratio of 1.22 and a debt-to-equity ratio of 0.95. The company has a market cap of $5.17 billion, a P/E ratio of 33.65, a P/E/G ratio of 1.27 and a beta of 1.17.

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). The company had revenue of $824.52 million for the quarter, compared to analyst estimates of $786.68 million. ESAB had a return on equity of 14.17% and a net margin of 5.05%. The business's revenue for the quarter was up 13.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.32 earnings per share. As a group, sell-side analysts expect that ESAB Corporation will post 5.30 earnings per share for the current year.

ESAB Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 16th. Investors of record on Friday, October 2nd were issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend was Friday, October 2nd. ESAB's payout ratio is currently 19.43%.

Institutional Investors Weigh In On ESAB

A number of institutional investors have recently modified their holdings of the company. BlackRock Inc. bought a new stake in ESAB in the second quarter worth $524,533,000. Bank of New York Mellon Corp purchased a new stake in ESAB in the second quarter worth $94,210,000. Cooke & Bieler LP boosted its position in ESAB by 73.3% in the 3rd quarter. Cooke & Bieler LP now owns 2,200,682 shares of the company's stock valued at $144,981,000 after buying an additional 930,955 shares during the period. TimesSquare Capital Management LLC bought a new stake in ESAB during the 2nd quarter valued at $56,678,000. Finally, Diamond Hill Capital Management LLC Investment Advisor purchased a new stake in ESAB in the second quarter worth about $51,843,000. 91.13% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on ESAB shares. JPMorgan Chase & Co. lowered their price target on ESAB from $125.00 to $95.00 and set an "overweight" rating for the company in a report on Thursday, October 8th. Weiss Ratings cut ESAB from a "hold (c)" rating to a "hold (c-)" rating in a report on Tuesday, August 11th. Stifel Nicolaus set a $114.00 target price on shares of ESAB in a report on Monday, October 19th. UBS Group lowered their price target on ESAB from $145.00 to $115.00 and set a "buy" rating on the stock in a research report on Thursday. Finally, Roth Capital reiterated a "buy" rating and issued a $133.00 price target (down from $151.00) on shares of ESAB in a research note on Tuesday, September 15th. Seven analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, ESAB currently has a consensus rating of "Moderate Buy" and an average target price of $118.14.

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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