ESAB Co. (NYSE:ESAB) CFO Sells $630,500.00 in Stock

ESAB Co. (NYSE:ESAB) CFO Kevin J. Johnson sold 5,044 shares of the company’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $125.00, for a total transaction of $630,500.00. Following the transaction, the chief financial officer now owns 11,433 shares of the company’s stock, valued at approximately $1,429,125. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

ESAB Stock Performance

NYSE ESAB opened at $123.49 on Friday. ESAB Co. has a 52-week low of $70.78 and a 52-week high of $127.33. The company has a 50-day simple moving average of $105.67 and a 200 day simple moving average of $102.06. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.21 and a current ratio of 1.92. The company has a market capitalization of $7.46 billion, a PE ratio of 28.92, a price-to-earnings-growth ratio of 2.16 and a beta of 1.42.

ESAB (NYSE:ESAB) last issued its earnings results on Tuesday, October 29th. The company reported $1.25 earnings per share for the quarter, topping analysts’ consensus estimates of $1.12 by $0.13. The firm had revenue of $673.00 million during the quarter, compared to analyst estimates of $620.50 million. ESAB had a net margin of 9.47% and a return on equity of 17.27%. The company’s quarterly revenue was down 1.2% on a year-over-year basis. During the same quarter last year, the business earned $1.08 earnings per share. On average, research analysts predict that ESAB Co. will post 4.88 EPS for the current year.

ESAB Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Friday, September 27th were given a dividend of $0.08 per share. The ex-dividend date of this dividend was Friday, September 27th. This represents a $0.32 dividend on an annualized basis and a yield of 0.26%. ESAB’s dividend payout ratio is presently 7.49%.

Hedge Funds Weigh In On ESAB

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ESAB. ORG Partners LLC bought a new position in ESAB during the first quarter worth about $35,000. Whittier Trust Co. boosted its position in shares of ESAB by 302.6% in the first quarter. Whittier Trust Co. now owns 314 shares of the company’s stock valued at $35,000 after acquiring an additional 236 shares during the period. Hantz Financial Services Inc. bought a new position in shares of ESAB in the second quarter valued at approximately $42,000. GAMMA Investing LLC boosted its position in shares of ESAB by 55.9% in the third quarter. GAMMA Investing LLC now owns 410 shares of the company’s stock valued at $44,000 after acquiring an additional 147 shares during the period. Finally, Blue Trust Inc. boosted its position in shares of ESAB by 629.8% in the third quarter. Blue Trust Inc. now owns 613 shares of the company’s stock valued at $65,000 after acquiring an additional 529 shares during the period. Institutional investors own 91.13% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on ESAB shares. Stifel Nicolaus reduced their target price on shares of ESAB from $130.00 to $120.00 and set a “buy” rating on the stock in a report on Thursday, July 18th. JPMorgan Chase & Co. upped their price objective on shares of ESAB from $120.00 to $128.00 and gave the company an “overweight” rating in a research note on Monday, September 30th. Bank of America upped their price objective on shares of ESAB from $115.00 to $130.00 and gave the company a “buy” rating in a research note on Monday, August 5th. Loop Capital increased their target price on shares of ESAB from $105.00 to $120.00 and gave the stock a “hold” rating in a research note on Wednesday. Finally, Evercore ISI cut their target price on shares of ESAB from $107.00 to $102.00 and set an “in-line” rating on the stock in a research note on Monday, August 19th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, ESAB currently has a consensus rating of “Moderate Buy” and an average price target of $119.00.

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.