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

ESAB Corporation (NYSE:ESAB) CEO Shyam Kambeyanda sold 59,404 shares of the business’s stock in a transaction dated Monday, February 23rd. The stock was sold at an average price of $123.79, for a total value of $7,353,621.16. Following the transaction, the chief executive officer owned 99,864 shares in the company, valued at approximately $12,362,164.56. This represents a 37.30% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

ESAB Price Performance

ESAB stock opened at $124.86 on Friday. The firm has a market cap of $7.58 billion, a P/E ratio of 33.75, a price-to-earnings-growth ratio of 2.30 and a beta of 1.24. 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 Corporation has a 1 year low of $100.17 and a 1 year high of $137.42. The stock has a 50-day simple moving average of $121.70 and a 200-day simple moving average of $116.54.

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

ESAB Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, April 17th. Investors of record on Thursday, April 2nd will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend is Thursday, April 2nd. ESAB’s dividend payout ratio (DPR) is presently 10.81%.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the company. FNY Investment Advisers LLC acquired a new position in shares of ESAB in the 3rd quarter worth approximately $30,000. Los Angeles Capital Management LLC acquired a new position in ESAB in the fourth quarter worth $33,000. Northwestern Mutual Wealth Management Co. increased its stake in ESAB by 109.4% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 333 shares of the company’s stock valued at $40,000 after purchasing an additional 174 shares during the last quarter. Smartleaf Asset Management LLC raised its holdings in shares of 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 purchasing an additional 275 shares during the period. Finally, Global Retirement Partners LLC lifted its position in shares of ESAB by 3,023.1% in the 4th quarter. Global Retirement Partners LLC now owns 406 shares of the company’s stock worth $45,000 after buying an additional 393 shares during the last quarter. Institutional investors own 91.13% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on ESAB shares. JPMorgan Chase & Co. upped their price objective on shares of ESAB from $130.00 to $153.00 and gave the company an “overweight” rating in a research report on Monday. Wall Street Zen cut ESAB from a “buy” rating to a “hold” rating in a research note on Sunday, December 28th. Stifel Nicolaus increased their price target on ESAB from $144.00 to $158.00 and gave the company a “buy” rating in a report on Monday. Oppenheimer lifted their price objective on ESAB from $142.00 to $148.00 and gave the stock an “outperform” rating in a report on Friday, January 23rd. Finally, Weiss Ratings lowered ESAB from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, February 20th. Six equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus 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.