ESAB Co. (NYSE:ESAB) Shares Sold by Moody National Bank Trust Division

Moody National Bank Trust Division lessened its position in shares of ESAB Co. (NYSE:ESAB) by 8.8% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 2,588 shares of the company’s stock after selling 250 shares during the period. Moody National Bank Trust Division’s holdings in ESAB were worth $310,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the business. ORG Wealth Partners LLC acquired a new position in ESAB during the fourth quarter worth about $34,000. GAMMA Investing LLC raised its position in shares of ESAB by 55.9% during the 3rd quarter. GAMMA Investing LLC now owns 410 shares of the company’s stock worth $44,000 after purchasing an additional 147 shares during the last quarter. Blue Trust Inc. lifted its stake in ESAB by 629.8% in the 3rd 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. Quest Partners LLC lifted its stake in ESAB by 12,140.0% in the 3rd quarter. Quest Partners LLC now owns 612 shares of the company’s stock valued at $65,000 after buying an additional 607 shares in the last quarter. Finally, Millburn Ridgefield Corp acquired a new stake in ESAB during the 3rd quarter valued at $77,000. 91.13% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at ESAB

In other ESAB news, CFO Kevin J. Johnson sold 5,044 shares of the stock in a transaction that occurred 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 of the company’s stock, valued at $1,429,125. This trade represents a 30.61 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Shyam Kambeyanda sold 59,120 shares of the business’s stock in a transaction on 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 transaction, the chief executive officer now directly owns 53,902 shares in the company, valued at approximately $6,627,789.92. The trade was a 52.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 68,418 shares of company stock valued at $8,431,773 over the last 90 days. Corporate insiders own 7.00% of the company’s stock.

ESAB Stock Up 2.8 %

Shares of NYSE ESAB opened at $120.10 on Wednesday. The stock has a market capitalization of $7.26 billion, a PE ratio of 28.13, a P/E/G ratio of 2.23 and a beta of 1.37. The company has a quick ratio of 1.25, a current ratio of 1.92 and a debt-to-equity ratio of 0.58. The firm has a fifty day moving average of $125.07 and a 200-day moving average of $110.52. ESAB Co. has a 52-week low of $82.64 and a 52-week high of $135.97.

ESAB (NYSE:ESAB) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $1.25 EPS for the quarter, topping the consensus estimate of $1.12 by $0.13. ESAB had a return on equity of 17.27% and a net margin of 9.47%. The company had revenue of $673.00 million during the quarter, compared to analyst estimates of $620.50 million. During the same period in the prior year, the firm posted $1.08 earnings per share. The firm’s revenue was down 1.2% on a year-over-year basis. On average, analysts anticipate that ESAB Co. will post 4.93 EPS for the current year.

ESAB Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 17th. Shareholders of record on Tuesday, December 31st will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.32 annualized dividend and a yield of 0.27%. ESAB’s dividend payout ratio is currently 7.49%.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on ESAB shares. JPMorgan Chase & Co. upped their price objective on ESAB from $120.00 to $128.00 and gave the company an “overweight” rating in a research report on Monday, September 30th. Oppenheimer reiterated an “outperform” rating and set a $144.00 price target (up from $138.00) on shares of ESAB in a report on Friday, November 8th. Stifel Nicolaus lowered shares of ESAB from a “buy” rating to a “hold” rating and decreased their target price for the stock from $138.00 to $130.00 in a research report on Monday, November 18th. Evercore ISI downgraded ESAB from an “in-line” rating to an “underperform” rating and boosted their price target for the company from $102.00 to $122.00 in a report on Wednesday, November 13th. Finally, Loop Capital raised their price objective on ESAB from $105.00 to $120.00 and gave the stock a “hold” rating in a report on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $133.43.

ESAB 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.