ESAB Co. (NYSE:ESAB) Insider Olivier Biebuyck Sells 460 Shares

ESAB Co. (NYSE:ESAB) insider Olivier Biebuyck sold 460 shares of the stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $68.98, for a total value of $31,730.80. Following the sale, the insider now owns 6,441 shares of the company’s stock, valued at $444,300.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

ESAB Trading Up 0.1 %

Shares of NYSE:ESAB opened at $68.32 on Friday. The company has a market cap of $4.12 billion, a P/E ratio of 19.80, a P/E/G ratio of 3.43 and a beta of 1.35. The stock’s 50-day moving average is $69.80 and its 200-day moving average is $63.72. ESAB Co. has a 52-week low of $32.12 and a 52-week high of $73.42. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.01 and a current ratio of 1.73.

ESAB (NYSE:ESAB) last issued its quarterly earnings results on Tuesday, August 1st. The company reported $1.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.05 by $0.16. The company had revenue of $720.40 million for the quarter, compared to the consensus estimate of $665.13 million. ESAB had a return on equity of 18.25% and a net margin of 7.83%. The firm’s revenue was up 9.0% compared to the same quarter last year. During the same period last year, the business posted $1.08 earnings per share. Equities research analysts predict that ESAB Co. will post 4.22 earnings per share for the current year.

ESAB Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 13th. Stockholders of record on Friday, September 29th will be given a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.35%. The ex-dividend date of this dividend is Thursday, September 28th. ESAB’s dividend payout ratio is currently 6.96%.

Institutional Investors Weigh In On ESAB

A number of institutional investors have recently added to or reduced their stakes in ESAB. Price T Rowe Associates Inc. MD grew its position in ESAB by 2,222.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,545,956 shares of the company’s stock worth $150,391,000 after buying an additional 2,436,338 shares in the last quarter. T. Rowe Price Investment Management Inc. grew its position in ESAB by 29.1% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 8,517,838 shares of the company’s stock worth $399,657,000 after buying an additional 1,920,386 shares in the last quarter. Alliancebernstein L.P. grew its position in ESAB by 2,239.3% during the fourth quarter. Alliancebernstein L.P. now owns 1,569,713 shares of the company’s stock worth $73,651,000 after buying an additional 1,502,611 shares in the last quarter. State Street Corp acquired a new stake in ESAB during the second quarter worth about $54,191,000. Finally, Neuberger Berman Group LLC grew its position in ESAB by 194.4% during the first quarter. Neuberger Berman Group LLC now owns 1,287,153 shares of the company’s stock worth $76,032,000 after buying an additional 849,906 shares in the last quarter. 91.56% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Evercore ISI assumed coverage on ESAB in a report on Friday, July 14th. They set an “in-line” rating and a $75.00 target price on the stock. JPMorgan Chase & Co. raised their target price on ESAB from $74.00 to $75.00 and gave the company a “neutral” rating in a report on Wednesday, August 2nd. Loop Capital raised their target price on ESAB from $70.00 to $73.00 and gave the company a “hold” rating in a report on Wednesday, August 2nd. Stifel Nicolaus raised their target price on ESAB from $75.00 to $88.00 and gave the company a “buy” rating in a report on Wednesday, July 19th. Finally, Robert W. Baird raised their target price on ESAB from $75.00 to $85.00 and gave the company an “outperform” rating in a report on Wednesday, August 2nd. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $76.43.

ESAB Company Profile

ESAB Corporation engages in the formulation, development, manufacture, and supply of consumable products and equipment for use in cutting, joining, and automated welding; and 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.