ESAB Co. (NYSE:ESAB) Declares $0.08 Quarterly Dividend

ESAB Co. (NYSE:ESAB) declared a quarterly dividend on Wednesday, December 18th,Wall Street Journal reports. Stockholders of record on Tuesday, December 31st will be paid a dividend of 0.08 per share on Friday, January 17th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.26%. The ex-dividend date of this dividend is Tuesday, December 31st.

ESAB has a payout ratio of 5.9% meaning its dividend is sufficiently covered by earnings. Analysts expect ESAB to earn $5.38 per share next year, which means the company should continue to be able to cover its $0.32 annual dividend with an expected future payout ratio of 5.9%.

ESAB Stock Performance

NYSE ESAB opened at $123.88 on Thursday. ESAB has a twelve month low of $82.44 and a twelve month high of $135.97. The company has a quick ratio of 1.25, a current ratio of 1.92 and a debt-to-equity ratio of 0.58. The stock has a market cap of $7.49 billion, a P/E ratio of 29.01, a PEG ratio of 2.25 and a beta of 1.34. The company’s 50-day simple moving average is $123.26 and its 200 day simple moving average is $107.19.

ESAB (NYSE:ESAB) last released its quarterly earnings data on Tuesday, October 29th. The company reported $1.25 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.13. The company had revenue of $673.00 million for the quarter, compared to analyst estimates of $620.50 million. ESAB had a return on equity of 17.27% and a net margin of 9.47%. The company’s revenue was down 1.2% compared to the same quarter last year. During the same period in the prior year, the company posted $1.08 EPS. As a group, research analysts forecast that ESAB will post 4.94 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Oppenheimer reissued an “outperform” rating and set a $144.00 price objective (up from $138.00) on shares of ESAB in a report on Friday, November 8th. Stifel Nicolaus downgraded shares of ESAB from a “buy” rating to a “hold” rating and cut their price target for the company from $138.00 to $130.00 in a report on Monday, November 18th. Evercore ISI cut shares of ESAB from an “in-line” rating to an “underperform” rating and upped their price objective for the stock from $102.00 to $122.00 in a research note on Wednesday, November 13th. Loop Capital raised their price objective on shares of ESAB from $105.00 to $120.00 and gave the stock a “hold” rating in a report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. boosted their target price on ESAB from $120.00 to $128.00 and gave the stock an “overweight” rating in a report on Monday, September 30th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $133.43.

Insider Buying and Selling at ESAB

In related news, CFO Kevin J. Johnson sold 5,044 shares of ESAB stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $125.00, for a total value of $630,500.00. Following the completion of the sale, the chief financial officer now directly owns 11,433 shares in the company, valued at $1,429,125. This trade represents a 30.61 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Shyam Kambeyanda sold 59,120 shares of the company’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $122.96, for a total transaction of $7,269,395.20. Following the transaction, the chief executive officer now owns 53,902 shares in the company, valued at approximately $6,627,789.92. The trade was a 52.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 68,418 shares of company stock worth $8,431,773. 7.20% of the stock is currently owned by corporate insiders.

About ESAB

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