ESAB Co. (NYSE:ESAB) Plans Quarterly Dividend of $0.08

ESAB Co. (NYSE:ESAB) announced a quarterly dividend on Wednesday, December 18th,Wall Street Journal reports. Investors 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 dividend payout ratio of 5.9% meaning its dividend is sufficiently covered by earnings. Equities research 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 Down 4.3 %

Shares of NYSE ESAB opened at $123.88 on Thursday. ESAB has a 52-week low of $82.44 and a 52-week high of $135.97. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.25 and a current ratio of 1.92. The stock has a market cap of $7.49 billion, a P/E ratio of 29.01, a P/E/G ratio of 2.25 and a beta of 1.34. The firm has a 50 day moving average price of $123.26 and a 200 day moving average price of $107.19.

ESAB (NYSE:ESAB) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $1.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.13. ESAB had a net margin of 9.47% and a return on equity of 17.27%. The company had revenue of $673.00 million during the quarter, compared to analyst estimates of $620.50 million. During the same quarter in the previous year, the business earned $1.08 EPS. The firm’s revenue was down 1.2% on a year-over-year basis. Analysts expect that ESAB will post 4.94 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have issued reports on ESAB. Loop Capital boosted their target price on ESAB from $105.00 to $120.00 and gave the company a “hold” rating in a research note on Wednesday, October 30th. JPMorgan Chase & Co. boosted their price objective on ESAB from $120.00 to $128.00 and gave the company an “overweight” rating in a research report on Monday, September 30th. Jefferies Financial Group initiated coverage on shares of ESAB in a report on Thursday, December 12th. They set a “buy” rating and a $160.00 target price on the stock. Oppenheimer reiterated an “outperform” rating and issued a $144.00 price target (up previously from $138.00) on shares of ESAB in a report on Friday, November 8th. Finally, Evercore ISI lowered shares of ESAB from an “in-line” rating to an “underperform” rating and raised their price objective for the stock from $102.00 to $122.00 in a report on Wednesday, November 13th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, ESAB currently has an average rating of “Hold” and an average target price of $133.43.

Insider Transactions at ESAB

In related news, CEO Shyam Kambeyanda sold 59,120 shares of ESAB stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $122.96, for a total value of $7,269,395.20. Following the sale, the chief executive officer now owns 53,902 shares of the company’s stock, valued at approximately $6,627,789.92. The trade was a 52.31 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Rhonda L. Jordan sold 4,254 shares of the stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $125.03, for a total value of $531,877.62. The disclosure for this sale can be found here. Insiders sold 68,418 shares of company stock valued at $8,431,773 in the last ninety days. 7.20% of the stock is currently owned by corporate insiders.

ESAB Company Profile

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.