ESAB Co. (NYSE:ESAB) CFO Kevin J. Johnson Sells 5,044 Shares

by · The Cerbat Gem

ESAB Co. (NYSE:ESAB – Get Free Report) CFO Kevin J. Johnson sold 5,044 shares of the stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $125.00, for a total value of $630,500.00. Following the completion of the sale, the chief financial officer now owns 11,433 shares in the company, valued at approximately $1,429,125. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

ESAB Price Performance

NYSE:ESAB traded down $2.37 during trading hours on Thursday, hitting $123.06. The company’s stock had a trading volume of 402,407 shares, compared to its average volume of 250,442. The stock has a fifty day simple moving average of $105.22 and a 200-day simple moving average of $101.91. The company has a market capitalization of $7.44 billion, a P/E ratio of 28.81, a PEG ratio of 1.93 and a beta of 1.42. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.86 and a quick ratio of 1.21. ESAB Co. has a twelve month low of $62.57 and a twelve month high of $127.33.

ESAB (NYSE:ESAB – Get Free Report) last released its quarterly earnings data on Tuesday, October 29th. The company reported $1.25 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.13. The business had revenue of $673.00 million for the quarter, compared to analyst estimates of $620.50 million. ESAB had a return on equity of 17.49% and a net margin of 9.06%. ESAB’s revenue was down 1.2% compared to the same quarter last year. During the same period last year, the firm posted $1.08 earnings per share. On average, analysts anticipate that ESAB Co. will post 4.83 EPS for the current fiscal year.

ESAB Announces Dividend

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

Institutional Trading of ESAB

A number of hedge funds have recently made changes to their positions in ESAB. ORG Partners LLC bought a new position in shares of ESAB during the first quarter worth about $35,000. Whittier Trust Co. raised its position in shares of ESAB by 302.6% during the first quarter. Whittier Trust Co. now owns 314 shares of the company’s stock worth $35,000 after acquiring an additional 236 shares during the last quarter. Hantz Financial Services Inc. bought a new position in shares of ESAB during the second quarter worth about $42,000. GAMMA Investing LLC raised its position in shares of ESAB by 55.9% during the third quarter. GAMMA Investing LLC now owns 410 shares of the company’s stock worth $44,000 after acquiring an additional 147 shares during the last quarter. Finally, Blue Trust Inc. raised its position in shares of ESAB by 629.8% during the third quarter. Blue Trust Inc. now owns 613 shares of the company’s stock worth $65,000 after acquiring an additional 529 shares during the last quarter. 91.13% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ESAB has been the topic of several recent research reports. Loop Capital increased their price objective on ESAB from $105.00 to $120.00 and gave the stock a “hold” rating in a research report on Wednesday. Oppenheimer restated an “outperform” rating and issued a $138.00 price target (up previously from $122.00) on shares of ESAB in a research report on Wednesday. Bank of America raised their price target on ESAB from $115.00 to $130.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Evercore ISI decreased their price target on ESAB from $107.00 to $102.00 and set an “in-line” rating on the stock in a research report on Monday, August 19th. Finally, Stifel Nicolaus decreased their price target on ESAB from $130.00 to $120.00 and set a “buy” rating on the stock in a research report on Thursday, July 18th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $119.00.

Read Our Latest Analysis on ESAB

About ESAB

(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.

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