ESAB (NYSE:ESAB) CEO Shyam Kambeyanda Sells 59,404 Shares of Stock

ESAB Corporation (NYSE:ESAB) CEO Shyam Kambeyanda sold 59,404 shares of the stock in a transaction on Monday, February 23rd. The shares were sold at an average price of $123.79, for a total value of $7,353,621.16. Following the completion of the transaction, the chief executive officer directly owned 99,864 shares in the company, valued at $12,362,164.56. This trade represents a 37.30% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

ESAB Stock Down 0.3%

NYSE ESAB traded down $0.40 during trading on Thursday, reaching $124.39. 56,483 shares of the company’s stock were exchanged, compared to its average volume of 445,577. The company has a 50 day moving average price of $121.48 and a two-hundred day moving average price of $116.48. The stock has a market cap of $7.55 billion, a P/E ratio of 33.65, a price-to-earnings-growth ratio of 2.31 and a beta of 1.24. ESAB Corporation has a 1 year low of $100.17 and a 1 year high of $137.42. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.24 and a current ratio of 1.90.

ESAB (NYSE:ESAB) last issued its earnings results on Friday, February 20th. The company reported $1.35 earnings per share for the quarter, topping the consensus estimate of $1.34 by $0.01. The business had revenue of $720.99 million for the quarter, compared to analyst estimates of $687.80 million. ESAB had a return on equity of 15.38% and a net margin of 7.98%.The business’s quarterly revenue was up 7.5% on a year-over-year basis. During the same quarter last year, the company earned $1.28 EPS. On average, equities research analysts anticipate that ESAB Corporation will post 5.16 EPS for the current fiscal year.

ESAB Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, January 16th. Stockholders of record on Wednesday, December 31st were issued a $0.10 dividend. The ex-dividend date was Wednesday, December 31st. This represents a $0.40 annualized dividend and a dividend yield of 0.3%. ESAB’s dividend payout ratio is presently 10.81%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. FNY Investment Advisers LLC acquired a new position in shares of ESAB during the 3rd quarter worth $30,000. Los Angeles Capital Management LLC acquired a new stake in shares of ESAB in the fourth quarter valued at about $33,000. Northwestern Mutual Wealth Management Co. boosted its holdings in ESAB by 109.4% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 333 shares of the company’s stock worth $40,000 after buying an additional 174 shares in the last quarter. Smartleaf Asset Management LLC grew its position in ESAB by 259.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 381 shares of the company’s stock worth $43,000 after buying an additional 275 shares during the period. Finally, Global Retirement Partners LLC increased its holdings in ESAB by 3,023.1% in the fourth quarter. Global Retirement Partners LLC now owns 406 shares of the company’s stock valued at $45,000 after buying an additional 393 shares in the last quarter. 91.13% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on ESAB. Stifel Nicolaus boosted their price target on shares of ESAB from $144.00 to $158.00 and gave the company a “buy” rating in a research report on Monday. Weiss Ratings downgraded ESAB from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, February 20th. Wall Street Zen downgraded ESAB from a “buy” rating to a “hold” rating in a research note on Sunday, December 28th. Roth Mkm reiterated a “buy” rating and issued a $146.00 price objective (down from $150.00) on shares of ESAB in a research note on Tuesday, February 3rd. Finally, JPMorgan Chase & Co. raised their target price on shares of ESAB from $130.00 to $153.00 and gave the stock an “overweight” rating in a research report on Monday. Six equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, ESAB currently has an average rating of “Moderate Buy” and an average price target of $145.25.

About ESAB

ESAB Corporation is a global leader in welding, cutting and gas control technologies, offering a comprehensive portfolio of equipment, consumables and automation solutions. The company’s products include welding power sources, cutting machines, torches, electrodes, filler metals and gas regulating equipment designed to meet the needs of diverse industries. ESAB serves sectors such as construction, shipbuilding, automotive, energy, infrastructure and manufacturing, providing both standard and customized solutions to enhance productivity and quality in metal fabrication and processing.

Founded in 1904 by Swedish inventor Oscar Kjellberg, ESAB pioneered the development of coated welding electrodes, laying the groundwork for modern welding practices.