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

ESAB Co. (NYSE:ESAB) CEO Shyam Kambeyanda sold 59,120 shares of the firm’s stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $122.96, for a total transaction of $7,269,395.20. Following the completion of the transaction, the chief executive officer now directly owns 53,902 shares in the company, valued at $6,627,789.92. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

ESAB Stock Performance

ESAB opened at $123.49 on Friday. The company has a market capitalization of $7.46 billion, a price-to-earnings ratio of 28.92, a price-to-earnings-growth ratio of 2.16 and a beta of 1.42. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.92 and a quick ratio of 1.21. ESAB Co. has a 1-year low of $70.78 and a 1-year high of $127.33. The business has a 50 day moving average price of $105.67 and a two-hundred day moving average price of $102.06.

ESAB (NYSE:ESAB) last released its earnings results on Tuesday, October 29th. The company reported $1.25 earnings per share for the quarter, topping analysts’ consensus estimates of $1.12 by $0.13. The firm had revenue of $673.00 million during the quarter, compared to the consensus estimate of $620.50 million. ESAB had a return on equity of 17.27% and a net margin of 9.47%. The firm’s revenue for the quarter was down 1.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.08 earnings per share. Research analysts predict that ESAB Co. will post 4.88 EPS for the current fiscal year.

ESAB Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 11th. Shareholders 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 dividend on an annualized basis and a yield of 0.26%. ESAB’s dividend payout ratio (DPR) is 7.49%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on ESAB. Loop Capital lifted their price target on ESAB from $105.00 to $120.00 and gave the company a “hold” rating in a report on Wednesday. JPMorgan Chase & Co. lifted their price target on ESAB from $120.00 to $128.00 and gave the company an “overweight” rating in a report on Monday, September 30th. Stifel Nicolaus cut their price target on ESAB from $130.00 to $120.00 and set a “buy” rating on the stock in a report on Thursday, July 18th. Bank of America lifted their price target on ESAB from $115.00 to $130.00 and gave the company a “buy” rating in a report on Monday, August 5th. Finally, Evercore ISI cut their price target on ESAB from $107.00 to $102.00 and set an “in-line” rating on the stock in a report on Monday, August 19th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, ESAB has a consensus rating of “Moderate Buy” and an average target price of $119.00.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Whittier Trust Co. increased its holdings in shares of ESAB by 302.6% in the first quarter. Whittier Trust Co. now owns 314 shares of the company’s stock valued at $35,000 after buying an additional 236 shares in the last quarter. ORG Partners LLC bought a new position in shares of ESAB in the first quarter valued at $35,000. GAMMA Investing LLC increased its holdings in shares of ESAB by 55.9% in the third quarter. GAMMA Investing LLC now owns 410 shares of the company’s stock valued at $44,000 after buying an additional 147 shares in the last quarter. Hantz Financial Services Inc. bought a new position in shares of ESAB in the second quarter valued at $42,000. Finally, Blue Trust Inc. increased its holdings in shares of ESAB by 629.8% in the third quarter. Blue Trust Inc. now owns 613 shares of the company’s stock valued at $65,000 after buying an additional 529 shares in the last quarter. 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.