Insider Selling: ESAB Co. (NYSE:ESAB) Director Sells $189,630.00 in Stock

ESAB Co. (NYSE:ESAB) Director Rhonda L. Jordan sold 1,500 shares of the stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $126.42, for a total transaction of $189,630.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

ESAB Stock Performance

NYSE ESAB opened at $123.85 on Friday. The company has a market cap of $7.51 billion, a P/E ratio of 28.67, a PEG ratio of 2.01 and a beta of 1.31. The company has a fifty day simple moving average of $121.71 and a 200 day simple moving average of $122.12. The company has a current ratio of 1.82, a quick ratio of 1.25 and a debt-to-equity ratio of 0.59. ESAB Co. has a 12-month low of $88.54 and a 12-month high of $135.97.

ESAB (NYSE:ESAB) last issued its quarterly earnings data on Thursday, May 1st. The company reported $1.25 earnings per share for the quarter, beating the consensus estimate of $1.18 by $0.07. The business had revenue of $678.14 million for the quarter, compared to analysts’ expectations of $633.66 million. ESAB had a return on equity of 17.43% and a net margin of 9.66%. The business’s revenue was down 1.7% on a year-over-year basis. During the same period last year, the business earned $1.20 EPS. Sell-side analysts predict that ESAB Co. will post 5.16 earnings per share for the current fiscal year.

ESAB Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 18th. Investors of record on Thursday, July 3rd will be given a dividend of $0.10 per share. This is a positive change from ESAB’s previous quarterly dividend of $0.08. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.32%. The ex-dividend date is Thursday, July 3rd. ESAB’s dividend payout ratio (DPR) is presently 9.01%.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Stifel Nicolaus increased their price target on ESAB from $109.00 to $126.00 and gave the stock a “hold” rating in a report on Friday, May 2nd. UBS Group raised ESAB from a “neutral” rating to a “buy” rating and raised their target price for the stock from $123.00 to $147.00 in a research note on Tuesday, April 1st. Evercore ISI boosted their price target on ESAB from $120.00 to $125.00 and gave the company an “in-line” rating in a research note on Monday, May 19th. Robert W. Baird set a $143.00 price objective on shares of ESAB in a research report on Friday, May 2nd. Finally, JPMorgan Chase & Co. lifted their price objective on shares of ESAB from $133.00 to $140.00 and gave the company an “overweight” rating in a research note on Tuesday, March 18th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $137.22.

Institutional Investors Weigh In On ESAB

A number of institutional investors have recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC boosted its stake in shares of ESAB by 70.3% in the 4th quarter. EverSource Wealth Advisors LLC now owns 218 shares of the company’s stock worth $26,000 after buying an additional 90 shares during the last quarter. Quadrant Capital Group LLC lifted its holdings in ESAB by 15.6% during the fourth quarter. Quadrant Capital Group LLC now owns 682 shares of the company’s stock worth $82,000 after acquiring an additional 92 shares during the period. Louisiana State Employees Retirement System boosted its position in ESAB by 0.6% in the fourth quarter. Louisiana State Employees Retirement System now owns 15,800 shares of the company’s stock worth $1,895,000 after purchasing an additional 100 shares during the last quarter. State of Michigan Retirement System grew its stake in ESAB by 0.7% in the 1st quarter. State of Michigan Retirement System now owns 13,602 shares of the company’s stock valued at $1,585,000 after purchasing an additional 100 shares during the period. Finally, Arizona State Retirement System increased its position in shares of ESAB by 0.8% during the 4th quarter. Arizona State Retirement System now owns 16,664 shares of the company’s stock valued at $1,999,000 after purchasing an additional 135 shares during the last quarter. 91.13% of the stock is owned by institutional investors.

About ESAB

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.