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Insider Selling: ESAB Co. (NYSE:ESAB) CFO Sells $89,783.34 in Stock

Defense World · Jan 29, 2023 05:41

ESAB Co. (NYSE:ESAB – Get Rating) CFO Kevin J. Johnson sold 1,597 shares of the stock in a transaction that occurred on Tuesday, January 24th. The stock was sold at an average price of $56.22, for a total transaction of $89,783.34. Following the transaction, the chief financial officer now directly owns 4,187 shares in the company, valued at approximately $235,393.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

ESAB Trading Down 0.3 %

NYSE:ESAB opened at $56.39 on Friday. The firm's 50 day moving average is $49.52 and its two-hundred day moving average is $43.08. ESAB Co. has a fifty-two week low of $32.12 and a fifty-two week high of $58.08. The company has a quick ratio of 0.89, a current ratio of 1.62 and a debt-to-equity ratio of 0.91.

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ESAB (NYSE:ESAB – Get Rating) last issued its earnings results on Thursday, November 3rd. The company reported $0.92 EPS for the quarter, beating analysts' consensus estimates of $0.82 by $0.10. The business had revenue of $620.27 million during the quarter, compared to analysts' expectations of $574.98 million. On average, equities research analysts predict that ESAB Co. will post 4.1 earnings per share for the current fiscal year.

ESAB Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 13th. Stockholders of record on Friday, December 30th were paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.35%. The ex-dividend date of this dividend was Thursday, December 29th.

Analyst Upgrades and Downgrades

Separately, Stifel Nicolaus increased their price target on shares of ESAB from $55.00 to $60.00 and gave the stock a "buy" rating in a research note on Friday, January 20th.

Hedge Funds Weigh In On ESAB

Hedge funds have recently made changes to their positions in the business. Oregon Public Employees Retirement Fund grew its holdings in ESAB by 2.8% during the 3rd quarter. Oregon Public Employees Retirement Fund now owns 13,282 shares of the company's stock valued at $443,000 after purchasing an additional 365 shares in the last quarter. TAGStone Capital Inc. acquired a new stake in ESAB during the 2nd quarter valued at $228,000. Stephens Inc. AR acquired a new stake in ESAB during the 2nd quarter valued at $3,312,000. Treasurer of the State of North Carolina acquired a new stake in ESAB during the 2nd quarter valued at $938,000. Finally, River Road Asset Management LLC acquired a new stake in ESAB during the 2nd quarter valued at $24,809,000. Hedge funds and other institutional investors own 80.23% of the company's stock.

ESAB Company Profile

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