Shyam Kambeyanda Sells 59,120 Shares of ESAB Co. (NYSE:ESAB) Stock

ESAB Co. (NYSE:ESAB) CEO Shyam Kambeyanda sold 59,120 shares of the business’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $122.96, for a total transaction of $7,269,395.20. Following the sale, the chief executive officer now directly owns 53,902 shares of the company’s stock, valued at approximately $6,627,789.92. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

ESAB Trading Down 1.9 %

NYSE ESAB opened at $123.06 on Friday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.92 and a quick ratio of 1.21. The stock’s 50-day moving average is $105.22 and its 200-day moving average is $101.91. ESAB Co. has a one year low of $62.57 and a one year high of $127.33. The firm has a market cap of $7.44 billion, a P/E ratio of 28.82, a P/E/G ratio of 2.16 and a beta of 1.42.

ESAB (NYSE:ESAB) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $1.25 earnings per share for the quarter, beating analysts’ consensus estimates of $1.12 by $0.13. ESAB had a net margin of 9.47% and a return on equity of 17.27%. The firm had revenue of $673.00 million for the quarter, compared to analyst estimates of $620.50 million. During the same quarter in the previous year, the firm posted $1.08 earnings per share. The business’s revenue was down 1.2% on a year-over-year basis. Sell-side analysts anticipate that ESAB Co. will post 4.88 earnings per share for the current fiscal year.

ESAB Announces Dividend

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

Institutional Trading of ESAB

Institutional investors have recently modified their holdings of the company. Susquehanna Fundamental Investments LLC bought a new stake in shares of ESAB in the first quarter worth $3,913,000. Allspring Global Investments Holdings LLC lifted its position in ESAB by 6.3% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 402,903 shares of the company’s stock worth $44,549,000 after buying an additional 23,825 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in shares of ESAB by 37.7% during the 1st quarter. Russell Investments Group Ltd. now owns 116,097 shares of the company’s stock worth $12,836,000 after buying an additional 31,780 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of ESAB by 11.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,424,115 shares of the company’s stock valued at $710,316,000 after acquiring an additional 653,377 shares in the last quarter. Finally, Edgestream Partners L.P. increased its position in shares of ESAB by 44.3% in the second quarter. Edgestream Partners L.P. now owns 64,239 shares of the company’s stock valued at $6,066,000 after acquiring an additional 19,721 shares during the last quarter. 91.13% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts have commented on the stock. Stifel Nicolaus dropped their target price on shares of ESAB from $130.00 to $120.00 and set a “buy” rating for the company in a research report on Thursday, July 18th. JPMorgan Chase & Co. upped their price objective on ESAB from $120.00 to $128.00 and gave the company an “overweight” rating in a report on Monday, September 30th. Evercore ISI reduced their target price on ESAB from $107.00 to $102.00 and set an “in-line” rating on the stock in a report on Monday, August 19th. Loop Capital upped their price target on ESAB from $105.00 to $120.00 and gave the company a “hold” rating in a research note on Wednesday. Finally, Oppenheimer reiterated an “outperform” rating and issued a $138.00 price target (up from $122.00) on shares of ESAB in a research report on Wednesday. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, ESAB presently has an average 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.