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

ESAB Co. (NYSE:ESAB) CFO Kevin J. Johnson sold 5,044 shares of the company’s stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $125.00, for a total transaction 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 represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

ESAB Price Performance

Shares of ESAB stock opened at $123.49 on Friday. ESAB Co. has a 52-week low of $70.78 and a 52-week high of $127.33. The stock has a market cap of $7.46 billion, a PE ratio of 28.92, a PEG ratio of 2.16 and a beta of 1.42. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.21 and a current ratio of 1.92. The firm’s 50 day moving average price is $105.67 and its two-hundred day moving average price is $102.06.

ESAB (NYSE:ESAB) last announced its quarterly 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 company had revenue of $673.00 million for the quarter, compared to analysts’ expectations of $620.50 million. ESAB had a net margin of 9.47% and a return on equity of 17.27%. The business’s quarterly 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. As a group, analysts forecast that ESAB Co. will post 4.88 EPS for the current year.

ESAB Dividend Announcement

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

Analysts Set New Price Targets

A number of research firms have issued reports on ESAB. JPMorgan Chase & Co. upped their price target on shares of ESAB from $120.00 to $128.00 and gave the company an “overweight” rating in a report on Monday, September 30th. Bank of America upped their price target on shares of ESAB from $115.00 to $130.00 and gave the company a “buy” rating in a report on Monday, August 5th. Loop Capital upped their price objective on shares of ESAB from $105.00 to $120.00 and gave the company a “hold” rating in a research report on Wednesday. Stifel Nicolaus cut their price objective on shares of ESAB from $130.00 to $120.00 and set a “buy” rating for the company in a research report on Thursday, July 18th. Finally, Evercore ISI cut their price objective on shares of ESAB from $107.00 to $102.00 and set an “in-line” rating for the company in a research report on Monday, August 19th. 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 MarketBeat.com, ESAB has an average rating of “Moderate Buy” and a consensus price target of $119.00.

Institutional Investors Weigh In On ESAB

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD increased its stake in ESAB by 11.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,424,115 shares of the company’s stock valued at $710,316,000 after buying an additional 653,377 shares during the last quarter. DAVENPORT & Co LLC grew its position in shares of ESAB by 5.5% in the 1st quarter. DAVENPORT & Co LLC now owns 811,679 shares of the company’s stock valued at $89,422,000 after acquiring an additional 42,099 shares during the period. TD Asset Management Inc boosted its holdings in shares of ESAB by 5.4% during the 2nd quarter. TD Asset Management Inc now owns 531,122 shares of the company’s stock worth $50,154,000 after buying an additional 27,202 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of ESAB by 4.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 490,532 shares of the company’s stock worth $46,321,000 after buying an additional 21,025 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its holdings in ESAB by 7.9% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 466,517 shares of the company’s stock valued at $49,595,000 after purchasing an additional 34,161 shares during the period. 91.13% of the stock is currently owned by institutional investors and hedge funds.

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.