ESAB (NYSE:ESAB) Hits New 1-Year Low at $36.85

Shares of ESAB Co. (NYSE:ESABGet Rating) reached a new 52-week low on Wednesday . The company traded as low as $36.85 and last traded at $36.90, with a volume of 10329 shares changing hands. The stock had previously closed at $37.95.

Analyst Upgrades and Downgrades

ESAB has been the subject of a number of recent research reports. Robert W. Baird initiated coverage on shares of ESAB in a report on Monday, September 12th. They issued an “outperform” rating and a $53.00 target price for the company. JPMorgan Chase & Co. initiated coverage on shares of ESAB in a report on Thursday, August 18th. They issued an “overweight” rating and a $55.00 target price for the company. Finally, Stifel Nicolaus cut their target price on shares of ESAB from $56.00 to $45.00 in a report on Monday, July 18th.

ESAB Stock Performance

The company has a current ratio of 1.62, a quick ratio of 0.88 and a debt-to-equity ratio of 0.92. The stock has a 50 day simple moving average of $41.77.

ESAB (NYSE:ESABGet Rating) last posted its quarterly earnings data on Tuesday, August 9th. The company reported $1.08 EPS for the quarter, topping the consensus estimate of $0.99 by $0.09. The firm had revenue of $661.18 million for the quarter, compared to analysts’ expectations of $629.40 million. As a group, equities analysts anticipate that ESAB Co. will post 4.01 EPS for the current fiscal year.

ESAB Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Friday, September 30th will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Thursday, September 29th. This represents a $0.20 annualized dividend and a dividend yield of 0.57%.

Institutional Trading of ESAB

Several institutional investors and hedge funds have recently made changes to their positions in the business. Lindbrook Capital LLC bought a new stake in shares of ESAB during the second quarter worth $30,000. US Bancorp DE bought a new stake in shares of ESAB during the second quarter worth $43,000. Quantbot Technologies LP bought a new stake in shares of ESAB during the second quarter worth $46,000. Quent Capital LLC bought a new stake in shares of ESAB during the second quarter worth $50,000. Finally, Godsey & Gibb Associates bought a new stake in shares of ESAB during the second quarter worth $53,000. 82.46% of the stock is currently owned by institutional investors.

ESAB Company Profile

(Get Rating)

ESAB Corporation formulates, develops, manufactures, and supplies 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, including electrodes, nozzles, shields, and tips.

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