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

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 of the company’s stock, valued at approximately $12,362,164.56. This represents a 37.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

ESAB Price Performance

ESAB traded down $0.62 on Wednesday, hitting $124.69. 446,828 shares of the company’s stock were exchanged, compared to its average volume of 457,528. ESAB Corporation has a fifty-two week low of $100.17 and a fifty-two week high of $137.42. The stock has a market cap of $7.57 billion, a price-to-earnings ratio of 33.70, a P/E/G ratio of 2.27 and a beta of 1.24. The firm has a 50-day moving average price of $121.24 and a 200-day moving average price of $116.42. The company has a current ratio of 1.90, a quick ratio of 1.24 and a debt-to-equity ratio of 0.56.

ESAB (NYSE:ESAB) last posted its quarterly 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. ESAB had a net margin of 7.98% and a return on equity of 15.38%. The firm had revenue of $720.99 million for the quarter, compared to the consensus estimate of $687.80 million. During the same period last year, the firm posted $1.28 earnings per share. The company’s revenue for the quarter was up 7.5% on a year-over-year basis. As a group, equities analysts anticipate that ESAB Corporation will post 5.16 earnings per share for the current year.

ESAB Announces Dividend

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

Wall Street Analyst Weigh In

ESAB has been the subject of several recent analyst reports. Roth Mkm restated a “buy” rating and set a $146.00 price objective (down from $150.00) on shares of ESAB in a research report on Tuesday, February 3rd. JPMorgan Chase & Co. upped their price objective on ESAB from $130.00 to $153.00 and gave the company an “overweight” rating in a report on Monday. Oppenheimer raised their target price on ESAB from $142.00 to $148.00 and gave the stock an “outperform” rating in a research note on Friday, January 23rd. Weiss Ratings downgraded ESAB from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday. Finally, Wall Street Zen cut ESAB from a “buy” rating to a “hold” rating in a report on Sunday, December 28th. Six investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, ESAB has a consensus rating of “Moderate Buy” and an average target price of $145.25.

Institutional Trading of ESAB

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. T. Rowe Price Investment Management Inc. boosted its position in shares of ESAB by 0.6% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 8,006,238 shares of the company’s stock worth $894,457,000 after acquiring an additional 45,841 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in ESAB by 11.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,852,692 shares of the company’s stock worth $653,864,000 after purchasing an additional 613,327 shares during the last quarter. Invesco Ltd. boosted its holdings in ESAB by 1.6% in the second quarter. Invesco Ltd. now owns 2,123,958 shares of the company’s stock valued at $256,043,000 after purchasing an additional 33,015 shares in the last quarter. Champlain Investment Partners LLC increased its stake in ESAB by 5.9% in the second quarter. Champlain Investment Partners LLC now owns 2,043,843 shares of the company’s stock valued at $246,385,000 after purchasing an additional 114,744 shares during the last quarter. Finally, Durable Capital Partners LP raised its holdings in ESAB by 40.5% during the third quarter. Durable Capital Partners LP now owns 1,945,854 shares of the company’s stock worth $217,430,000 after purchasing an additional 560,678 shares in the last quarter. Hedge funds and other institutional investors own 91.13% of the company’s stock.

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.