ESAB (NYSE:ESAB) CEO Shyam Kambeyanda Sells 59,404 Shares of Stock

ESAB Corporation (NYSE:ESAB) CEO Shyam Kambeyanda sold 59,404 shares of ESAB stock in a transaction on Monday, February 23rd. The stock was sold at an average price of $123.79, for a total transaction of $7,353,621.16. Following the sale, the chief executive officer owned 99,864 shares in the company, valued at $12,362,164.56. This represents a 37.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

ESAB Stock Performance

NYSE ESAB traded down $0.62 during trading hours on Wednesday, hitting $124.69. The company had a trading volume of 446,828 shares, compared to its average volume of 457,528. The business has a 50 day moving average of $121.24 and a 200-day moving average of $116.42. The company has a market cap of $7.57 billion, a PE ratio of 33.70, a price-to-earnings-growth ratio of 2.27 and a beta of 1.24. ESAB Corporation has a 1-year low of $100.17 and a 1-year high of $137.42. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.24 and a current ratio of 1.90.

ESAB (NYSE:ESAB) last posted its earnings results on Friday, February 20th. The company reported $1.35 earnings per share for the quarter, beating the consensus estimate of $1.34 by $0.01. The business had revenue of $720.99 million during the quarter, compared to the consensus estimate of $687.80 million. ESAB had a return on equity of 15.38% and a net margin of 7.98%.The business’s quarterly revenue was up 7.5% on a year-over-year basis. During the same period in the previous year, the business earned $1.28 EPS. As a group, equities research analysts expect that ESAB Corporation will post 5.16 EPS for the current year.

ESAB Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 16th. Stockholders of record on Wednesday, December 31st were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend was Wednesday, December 31st. ESAB’s payout ratio is presently 10.81%.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Weiss Ratings downgraded shares of ESAB from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday. Roth Mkm reissued a “buy” rating and set a $146.00 price target (down from $150.00) on shares of ESAB in a report on Tuesday, February 3rd. JPMorgan Chase & Co. boosted their price target on ESAB from $130.00 to $153.00 and gave the company an “overweight” rating in a research report on Monday. Wall Street Zen cut ESAB from a “buy” rating to a “hold” rating in a research report on Sunday, December 28th. Finally, Oppenheimer lifted their target price on ESAB from $142.00 to $148.00 and gave the company an “outperform” rating in a research note on Friday, January 23rd. Six analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, ESAB presently has an average rating of “Moderate Buy” and an average price target of $145.25.

Institutional Investors Weigh In On ESAB

A number of hedge funds have recently added to or reduced their stakes in ESAB. Diamond Hill Capital Management Inc. boosted its position in shares of ESAB by 8.3% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 168,668 shares of the company’s stock worth $18,847,000 after buying an additional 12,894 shares in the last quarter. Van Berkom & Associates Inc. raised its position in ESAB by 28.6% during the third quarter. Van Berkom & Associates Inc. now owns 716,405 shares of the company’s stock worth $80,051,000 after acquiring an additional 159,539 shares during the last quarter. Advantage Alpha Capital Partners LP raised its position in ESAB by 56.4% during the second quarter. Advantage Alpha Capital Partners LP now owns 26,644 shares of the company’s stock worth $3,212,000 after acquiring an additional 9,608 shares during the last quarter. Daiwa Securities Group Inc. lifted its holdings in shares of ESAB by 82.1% in the second quarter. Daiwa Securities Group Inc. now owns 39,739 shares of the company’s stock valued at $4,791,000 after purchasing an additional 17,911 shares in the last quarter. Finally, Champlain Investment Partners LLC lifted its holdings in shares of ESAB by 5.9% in the second quarter. Champlain Investment Partners LLC now owns 2,043,843 shares of the company’s stock valued at $246,385,000 after purchasing an additional 114,744 shares in the last quarter. Institutional investors and hedge funds own 91.13% of the company’s stock.

ESAB Company Profile

ESAB Corporation is a global leader in welding, cutting and gas control technologies, offering a comprehensive portfolio of equipment, consumables and automation solutions. The company’s products include welding power sources, cutting machines, torches, electrodes, filler metals and gas regulating equipment designed to meet the needs of diverse industries. ESAB serves sectors such as construction, shipbuilding, automotive, energy, infrastructure and manufacturing, providing both standard and customized solutions to enhance productivity and quality in metal fabrication and processing.

Founded in 1904 by Swedish inventor Oscar Kjellberg, ESAB pioneered the development of coated welding electrodes, laying the groundwork for modern welding practices.