ESAB (NYSE:ESAB) Trading Up 10.4% – Here’s Why
by Scott Moore · The Cerbat GemESAB Corporation (NYSE:ESAB – Get Free Report)’s stock price traded up 10.4% on Friday . The stock traded as high as $107.72 and last traded at $109.2140. 113,159 shares traded hands during trading, a decline of 79% from the average session volume of 547,813 shares. The stock had previously closed at $98.93.
Wall Street Analyst Weigh In
Several equities analysts have recently weighed in on the stock. JPMorgan Chase & Co. reduced their price objective on shares of ESAB from $148.00 to $135.00 and set an “overweight” rating for the company in a research report on Friday, April 10th. DA Davidson reduced their price objective on shares of ESAB from $146.00 to $142.00 and set a “buy” rating for the company in a research note on Thursday. Wall Street Zen lowered shares of ESAB from a “buy” rating to a “hold” rating in a research note on Saturday, March 21st. Roth Mkm set a $142.00 price objective on shares of ESAB in a research note on Thursday. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $140.00 price objective on shares of ESAB in a research note on Tuesday. Eight investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $138.40.
Read Our Latest Stock Analysis on ESAB
ESAB Stock Up 10.9%
The company has a quick ratio of 1.17, a current ratio of 1.90 and a debt-to-equity ratio of 0.56. The company has a market capitalization of $6.68 billion, a PE ratio of 29.65, a price-to-earnings-growth ratio of 1.88 and a beta of 1.36. The business’s 50 day simple moving average is $110.83 and its 200 day simple moving average is $113.98.
ESAB (NYSE:ESAB – Get Free Report) last posted its quarterly earnings data on Friday, February 20th. The company reported $1.35 EPS for the quarter, beating analysts’ consensus estimates of $1.34 by $0.01. ESAB had a net margin of 7.98% and a return on equity of 15.38%. The company had revenue of $687.00 million during the quarter, compared to analyst estimates of $687.80 million. During the same period in the prior year, the firm earned $1.28 earnings per share. The business’s quarterly revenue was up 7.5% on a year-over-year basis. As a group, analysts forecast that ESAB Corporation will post 5.16 EPS for the current year.
ESAB Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, April 17th. Investors of record on Thursday, April 2nd will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.4%. The ex-dividend date is Thursday, April 2nd. ESAB’s dividend payout ratio (DPR) is currently 10.81%.
Insider Activity at ESAB
In related news, CEO Shyam Kambeyanda sold 59,404 shares of the firm’s stock in a transaction that occurred on Monday, February 23rd. The shares were sold at an average price of $123.79, for a total transaction of $7,353,621.16. Following the completion of the sale, the chief executive officer directly owned 99,864 shares in the company, valued at approximately $12,362,164.56. This trade represents a 37.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 7.20% of the company’s stock.
Institutional Trading of ESAB
Several institutional investors have recently made changes to their positions in the stock. SG Americas Securities LLC boosted its holdings in shares of ESAB by 50.3% during the first quarter. SG Americas Securities LLC now owns 20,881 shares of the company’s stock worth $2,018,000 after purchasing an additional 6,988 shares during the period. Diversified Trust Co boosted its holdings in shares of ESAB by 4.4% during the first quarter. Diversified Trust Co now owns 20,835 shares of the company’s stock worth $2,014,000 after purchasing an additional 872 shares during the period. T. Rowe Price Investment Management Inc. boosted its holdings in shares of ESAB by 0.6% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 8,006,238 shares of the company’s stock worth $894,457,000 after purchasing an additional 45,841 shares during the period. Mercer Global Advisors Inc. ADV acquired a new stake in shares of ESAB during the fourth quarter worth approximately $322,000. Finally, Vident Advisory LLC boosted its holdings in shares of ESAB by 132.4% during the fourth quarter. Vident Advisory LLC now owns 4,879 shares of the company’s stock worth $545,000 after purchasing an additional 2,780 shares during the period. 91.13% of the stock is currently owned by institutional investors and hedge funds.
About ESAB
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.