ESAB Co. (NYSE:ESAB) Director Rhonda L. Jordan Sells 1,500 Shares

ESAB Co. (NYSE:ESAB - Get Free Report) Director Rhonda L. Jordan sold 1,500 shares of the stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $126.42, for a total transaction of $189,630.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

ESAB Price Performance

Shares of NYSE:ESAB traded down $1.27 during midday trading on Friday, reaching $123.85. 335,637 shares of the company were exchanged, compared to its average volume of 271,899. ESAB Co. has a one year low of $88.54 and a one year high of $135.97. The company has a current ratio of 1.82, a quick ratio of 1.25 and a debt-to-equity ratio of 0.59. The business's fifty day moving average is $121.71 and its two-hundred day moving average is $122.08. The stock has a market cap of $7.51 billion, a PE ratio of 28.67, a price-to-earnings-growth ratio of 2.01 and a beta of 1.31.

ESAB (NYSE:ESAB - Get Free Report) last released its earnings results on Thursday, May 1st. The company reported $1.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.18 by $0.07. The firm had revenue of $678.14 million during the quarter, compared to analyst estimates of $633.66 million. ESAB had a net margin of 9.66% and a return on equity of 17.43%. The business's revenue was down 1.7% on a year-over-year basis. During the same quarter last year, the business earned $1.20 EPS. As a group, analysts predict that ESAB Co. will post 5.16 earnings per share for the current year.

ESAB Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 18th. Investors of record on Thursday, July 3rd will be paid a $0.10 dividend. The ex-dividend date is Thursday, July 3rd. This is a boost from ESAB's previous quarterly dividend of $0.08. This represents a $0.40 dividend on an annualized basis and a yield of 0.32%. ESAB's dividend payout ratio (DPR) is 9.01%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on ESAB shares. UBS Group raised shares of ESAB from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $123.00 to $147.00 in a report on Tuesday, April 1st. JPMorgan Chase & Co. boosted their price target on shares of ESAB from $133.00 to $140.00 and gave the company an "overweight" rating in a research report on Tuesday, March 18th. Stifel Nicolaus boosted their price target on shares of ESAB from $109.00 to $126.00 and gave the company a "hold" rating in a research report on Friday, May 2nd. Evercore ISI boosted their price objective on shares of ESAB from $120.00 to $125.00 and gave the stock an "in-line" rating in a research note on Monday, May 19th. Finally, Robert W. Baird set a $143.00 target price on shares of ESAB in a research note on Friday, May 2nd. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, ESAB has a consensus rating of "Moderate Buy" and a consensus target price of $137.22.

Hedge Funds Weigh In On ESAB

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC raised its stake in shares of ESAB by 70.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 218 shares of the company's stock valued at $26,000 after buying an additional 90 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in shares of ESAB during the 1st quarter valued at about $33,000. SBI Securities Co. Ltd. purchased a new position in shares of ESAB during the 4th quarter valued at about $36,000. First Horizon Advisors Inc. raised its stake in shares of 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. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of 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 buying an additional 318 shares during the last quarter. Hedge funds and other institutional investors own 91.13% of the company's stock.

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.