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

ESAB Co. (NYSE:ESAB) CEO Shyam Kambeyanda sold 59,120 shares of the company’s stock in a transaction that occurred on Tuesday, October 29th. The shares were 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 owns 53,902 shares in the company, valued at $6,627,789.92. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

ESAB Price Performance

Shares of ESAB traded down $2.37 during trading hours on Thursday, reaching $123.06. 402,407 shares of the company’s stock traded hands, compared to its average volume of 250,442. ESAB Co. has a 12 month low of $62.57 and a 12 month high of $127.33. The company has a current ratio of 1.86, a quick ratio of 1.21 and a debt-to-equity ratio of 0.62. The stock has a market cap of $7.44 billion, a PE ratio of 28.81, a price-to-earnings-growth ratio of 1.93 and a beta of 1.42. The firm’s 50 day simple moving average is $105.22 and its 200-day simple moving average is $101.91.

ESAB (NYSE:ESAB) last announced its earnings results on Tuesday, October 29th. The company reported $1.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.13. The business had revenue of $673.00 million during the quarter, compared to analyst estimates of $620.50 million. ESAB had a net margin of 9.06% and a return on equity of 17.49%. ESAB’s revenue for the quarter was down 1.2% on a year-over-year basis. During the same period in the previous year, the business posted $1.08 earnings per share. Equities analysts expect that ESAB Co. will post 4.83 EPS for the current year.

ESAB Announces Dividend

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

Analyst Ratings Changes

Several equities research analysts have issued reports on ESAB shares. JPMorgan Chase & Co. increased their target price on ESAB from $120.00 to $128.00 and gave the stock an “overweight” rating in a research report on Monday, September 30th. Evercore ISI cut their target price on ESAB from $107.00 to $102.00 and set an “in-line” rating for the company in a research note on Monday, August 19th. Oppenheimer reiterated an “outperform” rating and set a $138.00 price target (up from $122.00) on shares of ESAB in a research report on Wednesday. Stifel Nicolaus lowered their price target 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. Finally, Loop Capital boosted their price objective on shares of ESAB from $105.00 to $120.00 and gave the company a “hold” rating in a research note on Wednesday. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $119.00.

Institutional Investors Weigh In On ESAB

A number of large investors have recently added to or reduced their stakes in the company. ORG Partners LLC purchased a new position in shares of ESAB in the 1st quarter worth about $35,000. Whittier Trust Co. lifted its position in ESAB by 302.6% in the 1st quarter. Whittier Trust Co. now owns 314 shares of the company’s stock worth $35,000 after buying an additional 236 shares during the last quarter. Hantz Financial Services Inc. bought a new stake in ESAB in the 2nd quarter worth approximately $42,000. GAMMA Investing LLC boosted its stake in ESAB by 55.9% in the third quarter. GAMMA Investing LLC now owns 410 shares of the company’s stock worth $44,000 after buying an additional 147 shares in the last quarter. Finally, Blue Trust Inc. grew its position in ESAB by 629.8% during 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 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.