ESAB Co. (NYSE:ESAB) Announces Dividend Increase - $0.08 Per Share

ESAB Co. (NYSE:ESAB - Get Free Report) announced a quarterly dividend on Friday, May 10th, Wall Street Journal reports. Stockholders of record on Friday, June 28th will be paid a dividend of 0.08 per share on Friday, July 12th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.29%. The ex-dividend date of this dividend is Friday, June 28th. This is a boost from ESAB's previous quarterly dividend of $0.06.

ESAB has a dividend payout ratio of 4.4% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect ESAB to earn $5.45 per share next year, which means the company should continue to be able to cover its $0.24 annual dividend with an expected future payout ratio of 4.4%.

ESAB Trading Up 1.1 %

Shares of NYSE:ESAB traded up $1.22 during midday trading on Friday, reaching $110.27. The company had a trading volume of 208,839 shares, compared to its average volume of 229,871. The company has a fifty day simple moving average of $106.42 and a two-hundred day simple moving average of $91.41. The firm has a market cap of $6.66 billion, a price-to-earnings ratio of 28.87, a price-to-earnings-growth ratio of 2.15 and a beta of 1.55. ESAB has a 1-year low of $57.53 and a 1-year high of $114.77. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.01 and a current ratio of 1.65.

ESAB (NYSE:ESAB - Get Free Report) last announced its earnings results on Wednesday, May 1st. The company reported $1.20 EPS for the quarter, topping the consensus estimate of $1.11 by $0.09. ESAB had a net margin of 8.39% and a return on equity of 17.59%. The company had revenue of $690.00 million during the quarter, compared to analysts' expectations of $653.93 million. During the same period last year, the company posted $1.04 earnings per share. The business's revenue for the quarter was up .9% on a year-over-year basis. Research analysts predict that ESAB will post 4.93 earnings per share for the current year.

Insider Buying and Selling at ESAB

In related news, Director Didier P. Teirlinck sold 2,512 shares of the stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $99.00, for a total value of $248,688.00. Following the transaction, the director now owns 33,863 shares in the company, valued at $3,352,437. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other ESAB news, Director Rajiv Vinnakota sold 856 shares of the business's stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $99.50, for a total value of $85,172.00. Following the completion of the sale, the director now owns 6,779 shares of the company's stock, valued at $674,510.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Didier P. Teirlinck sold 2,512 shares of the stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $99.00, for a total value of $248,688.00. Following the transaction, the director now directly owns 33,863 shares in the company, valued at approximately $3,352,437. The disclosure for this sale can be found here. Insiders have sold 10,833 shares of company stock worth $1,074,985 over the last 90 days. 7.20% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

ESAB has been the subject of a number of research analyst reports. Evercore ISI increased their target price on ESAB from $93.00 to $100.00 and gave the company an "in-line" rating in a report on Tuesday, March 5th. Stifel Nicolaus raised their price objective on ESAB from $106.00 to $114.00 and gave the stock a "buy" rating in a research report on Friday, March 1st. Finally, JPMorgan Chase & Co. upgraded ESAB from a "neutral" rating to an "overweight" rating and upped their target price for the company from $111.00 to $125.00 in a report on Monday, March 18th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, ESAB presently has an average rating of "Moderate Buy" and an average price target of $93.75.

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.