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

ESAB Co. (NYSE:ESAB - Get Free Report) Director Rhonda L. Jordan sold 1,500 shares of the company's stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $126.42, for a total value of $189,630.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

ESAB Stock Performance

ESAB stock traded down $1.27 during trading hours on Friday, reaching $123.85. The stock had a trading volume of 335,637 shares, compared to its average volume of 272,749. The stock has a market capitalization 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. The stock has a 50-day simple moving average of $121.71 and a 200 day simple moving average of $122.17. ESAB Co. has a fifty-two week low of $88.54 and a fifty-two week high of $135.97. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.82 and a quick ratio of 1.25.

ESAB (NYSE:ESAB - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The company reported $1.25 earnings per share for the quarter, beating the consensus estimate of $1.18 by $0.07. The company had revenue of $678.14 million for 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 company's revenue was down 1.7% on a year-over-year basis. During the same period in the prior year, the firm earned $1.20 earnings per share. Analysts predict that ESAB Co. will post 5.16 EPS for the current fiscal year.

ESAB Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 18th. Stockholders of record on Thursday, July 3rd will be given a $0.10 dividend. The ex-dividend date of this dividend is Thursday, July 3rd. This is a positive change from ESAB's previous quarterly dividend of $0.08. This represents a $0.40 annualized dividend and a dividend yield of 0.32%. ESAB's dividend payout ratio is presently 9.01%.

Hedge Funds Weigh In On ESAB

Several large investors have recently modified their holdings of the stock. EverSource Wealth Advisors LLC increased its position in ESAB by 70.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 218 shares of the company's stock worth $26,000 after acquiring an additional 90 shares during the period. Caitong International Asset Management Co. Ltd bought a new position in ESAB during the first quarter worth about $33,000. SBI Securities Co. Ltd. bought a new position in ESAB during the fourth quarter worth about $36,000. First Horizon Advisors Inc. increased its position in ESAB by 204.8% during the first quarter. First Horizon Advisors Inc. now owns 320 shares of the company's stock worth $37,000 after acquiring an additional 215 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its position in ESAB by 706.7% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 363 shares of the company's stock worth $42,000 after acquiring an additional 318 shares during the period. 91.13% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

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.