ESAB (NYSE:ESAB) traded down 5.5%

On Friday, during midday trading, the share price of ESAB Co. (NYSE:ESAB – Get Free Report) fell 5.5%. The stock has been trading as high as $91.03 and last traded at $91.04. 44,371 shares were traded during trading, down 82% from average session volume of 248,316 shares. Shares previously closed at $96.38.

Changes in analyst ratings

Several analysts have recently published reports on the company. Evercore ISI raised their target price on ESAB from $93.00 to $100.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 5th. Stifel Nicolaus raised their target price on ESAB from $106.00 to $114.00 and gave the stock a “buy” rating in a research report on Friday, March 1st. Finally, in a research report released on Monday, March 18, JPMorgan Chase & Co. upgraded ESAB from “neutral” to “overweight” and raised their price target on the stock from $111.00 to $125.00. Three analysts have rated the stock with a hold rating and four analysts have given a buy rating to the stock. ESAB currently has an average rating of “Moderate Buy” and a consensus price target of $96.29, according to MarketBeat data.

Read our latest analysis for ESAB

ESAB stock performance

The company has a debt to equity ratio of 0.59, a quick ratio of 1.01 and a current ratio of 1.65. The stock has a fifty-day simple moving average of $104.62 and a two-hundred-day simple moving average of $96.38. The market capitalization of the company’s stock is $5.56 billion, the price-to-earnings ratio is 24.08, the P/E/G ratio is 1.71 and the beta is 1.48.

ESAB (NYSE:ESAB – Get Free Report) last released its earnings results on Wednesday, May 1st. The company observed EPS of $1.20 for the quarter, $0.09 above the consensus estimate of $1.11. The company had revenue of $690.00 million for the quarter, compared to the consensus estimate of $653.93 million. ESAB achieved a return on equity of 17.59% and a net margin of 8.39%. The company’s revenue for the quarter increased by 0.9% compared to the same quarter last year. During the same period last year, the company saw an EPS of $1.04. Analysts predict that in the current financial year ESAB Co. will record 4.93 earnings per share.

ESAB increases dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 12. Shareholders who hit record highs on Friday, June 28 will receive a dividend of $0.08. The ex-dividend date is Friday, June 28. This represents an increase from ESAB’s previous quarterly dividend of $0.06. This translates into an annual dividend of $0.32 and a dividend yield of 0.35%. ESAB’s Dividend Payout Ratio (DPR) is currently 6.28%.

ESAB Institutional Trading

Several large investors have recently made changes to their positions at the company. Price T Rowe Associates Inc. MD increased its holdings in ESAB shares by 11.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,424,115 shares of the company’s stock valued at $710,316,000 after purchasing an additional 653,377 shares during the period. In the third quarter, Vanguard Group Inc. increased its shares in ESAB by 1.2%. Vanguard Group Inc. now owns 5,578,527 shares of the company’s stock valued at $391,724,000 after purchasing an additional 63,948 shares in the last quarter. FMR LLC increased its holdings in ESAB by 24.3% in the third quarter. FMR LLC now owns 2,892,015 shares of the company’s stock valued at $203,077,000 after purchasing an additional 566,224 shares in the last quarter. Invesco Ltd. increased its holdings in ESAB by 25.1% in the third quarter. Invesco Ltd. now owns 1,376,699 shares of the company’s stock valued at $96,672,000 after purchasing an additional 276,558 shares in the last quarter. Finally, DAVENPORT & Co LLC increased its holdings in ESAB by 5.5% during the first quarter. DAVENPORT & Co LLC now owns 811,679 shares of the company’s stock valued at $89,422,000 after purchasing an additional 42,099 shares in the last quarter. 91.13% of the shares are currently held by institutional investors and hedge funds.

ESAB company profile

(Get the free report)

ESAB Corporation is engaged in the design, development, production and supply of consumables and equipment for cutting, joining, automated welding and gas control equipment. A wide range of welding materials includes electrodes, cored and solid wires, and fluxes using a wide range of specialized and other materials; and cutting consumables including electrodes, nozzles, guards and tips.

Further reading

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