ESAB (NYSE:ESAB) Reaches New 1-Year High at $90.76

ESAB Co. (NYSE:ESABGet Free Report) reached a new 52-week high during trading on Friday . The company traded as high as $90.76 and last traded at $90.54, with a volume of 57997 shares. The stock had previously closed at $88.93.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. JPMorgan Chase & Co. raised their price target on shares of ESAB from $75.00 to $76.00 and gave the stock a “neutral” rating in a research report on Thursday, November 2nd. Robert W. Baird raised their price target on shares of ESAB from $83.00 to $95.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 6th. Finally, Stifel Nicolaus raised their price target on shares of ESAB from $105.00 to $106.00 and gave the stock a “buy” rating in a research report on Tuesday, January 23rd. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $83.50.

Read Our Latest Report on ESAB

ESAB Price Performance

The company has a debt-to-equity ratio of 0.71, a current ratio of 1.69 and a quick ratio of 0.99. The company has a market capitalization of $5.45 billion, a PE ratio of 25.62, a price-to-earnings-growth ratio of 1.55 and a beta of 1.50. The stock’s 50 day simple moving average is $85.28 and its 200-day simple moving average is $75.99.

ESAB Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 12th. Investors of record on Friday, December 29th were issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.27%. The ex-dividend date of this dividend was Thursday, December 28th. ESAB’s dividend payout ratio (DPR) is 6.80%.

Insider Activity

In other news, CEO Shyam Kambeyanda sold 6,702 shares of the stock in a transaction that occurred on Friday, December 8th. The stock was sold at an average price of $81.07, for a total value of $543,331.14. Following the completion of the sale, the chief executive officer now directly owns 44,474 shares of the company’s stock, valued at $3,605,507.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Shyam Kambeyanda sold 6,702 shares of the company’s stock in a transaction that occurred on Friday, December 8th. The stock was sold at an average price of $81.07, for a total transaction of $543,331.14. Following the completion of the sale, the chief executive officer now owns 44,474 shares in the company, valued at $3,605,507.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Olivier Biebuyck sold 519 shares of the company’s stock in a transaction that occurred on Tuesday, November 14th. The stock was sold at an average price of $78.45, for a total value of $40,715.55. Following the sale, the insider now owns 6,441 shares of the company’s stock, valued at approximately $505,296.45. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 13,155 shares of company stock valued at $1,072,643. 7.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Price T Rowe Associates Inc. MD grew its holdings in ESAB by 2,222.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,545,956 shares of the company’s stock valued at $150,391,000 after purchasing an additional 2,436,338 shares during the last quarter. T. Rowe Price Investment Management Inc. boosted its stake in shares of 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 valued at $399,657,000 after acquiring an additional 1,920,386 shares during the last quarter. Alliancebernstein L.P. boosted its stake in shares of ESAB by 2,239.3% during the fourth quarter. Alliancebernstein L.P. now owns 1,569,713 shares of the company’s stock valued at $73,651,000 after acquiring an additional 1,502,611 shares during the last quarter. State Street Corp acquired a new stake in shares of ESAB during the second quarter valued at $54,191,000. Finally, FMR LLC boosted its stake in shares of ESAB by 24.3% during the third quarter. FMR LLC now owns 2,892,015 shares of the company’s stock valued at $203,077,000 after acquiring an additional 566,224 shares during the last quarter. Hedge funds and other institutional investors own 91.56% of the company’s stock.

ESAB Company Profile

(Get Free Report)

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.

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