ESAB Co. (NYSE:ESAB) Director Sells $85,172.00 in Stock

ESAB Co. (NYSE:ESABGet Free Report) Director Rajiv Vinnakota sold 856 shares of the company’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $99.50, for a total value of $85,172.00. Following the completion of the transaction, the director now owns 6,779 shares of the company’s stock, valued at $674,510.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

ESAB Price Performance

Shares of ESAB stock opened at $100.60 on Friday. The stock’s fifty day moving average is $89.95 and its 200-day moving average is $79.77. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.98 and a current ratio of 1.61. The stock has a market capitalization of $6.07 billion, a PE ratio of 29.94, a PEG ratio of 2.05 and a beta of 1.53. ESAB Co. has a 52 week low of $54.49 and a 52 week high of $101.61.

ESAB (NYSE:ESABGet Free Report) last announced its earnings results on Thursday, February 29th. The company reported $1.13 EPS for the quarter, topping the consensus estimate of $1.05 by $0.08. The company had revenue of $689.40 million for the quarter, compared to analysts’ expectations of $644.51 million. ESAB had a return on equity of 17.57% and a net margin of 7.40%. The business’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.05 earnings per share. Equities research analysts expect that ESAB Co. will post 4.82 EPS for the current fiscal year.

ESAB Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 12th. Stockholders of record on Friday, March 29th will be issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.24%. The ex-dividend date of this dividend is Wednesday, March 27th. ESAB’s payout ratio is presently 7.14%.

Hedge Funds Weigh In On ESAB

Several large investors have recently made changes to their positions in ESAB. JPMorgan Chase & Co. acquired a new position in shares of ESAB during the second quarter valued at $2,920,000. UBS Group AG acquired a new position in shares of ESAB during the second quarter valued at $95,000. Credit Suisse AG acquired a new position in shares of ESAB during the second quarter valued at $1,942,000. Northern Trust Corp acquired a new position in shares of ESAB during the second quarter valued at $16,005,000. Finally, Renaissance Technologies LLC acquired a new position in shares of ESAB during the second quarter valued at $683,000. Institutional investors and hedge funds own 91.56% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on ESAB. Stifel Nicolaus upped their target price on ESAB from $106.00 to $114.00 and gave the company a “buy” rating in a research note on Friday, March 1st. JPMorgan Chase & Co. upped their price target on ESAB from $84.00 to $111.00 and gave the company a “neutral” rating in a research report on Friday, March 1st. Evercore ISI upped their price target on ESAB from $93.00 to $100.00 and gave the company an “in-line” rating in a research report on Tuesday, March 5th. Finally, Robert W. Baird upped their price target on ESAB from $83.00 to $95.00 and gave the company an “outperform” rating in a research report on Wednesday, December 6th. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $92.00.

Read Our Latest Analysis on ESAB

ESAB Company Profile

(Get Free Report)

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.

Read More

Insider Buying and Selling by Quarter for ESAB (NYSE:ESAB)

Receive News & Ratings for ESAB Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ESAB and related companies with MarketBeat.com's FREE daily email newsletter.