ESAB (ESAB) Declares $0.05 Dividend
ESAB said on March 2, 2023 that its board of directors declared a regular quarterly dividend of $0.05 per share ($0.20 annualized). Previously, the company paid $0.05 per share.
Shares must be purchased before the ex-div date of March 30, 2023 to qualify for the dividend. Shareholders of record as of March 31, 2023 will receive the payment on April 14, 2023.
At the current share price of $60.68 / share, the stock's dividend yield is 0.33%. Looking back five years and taking a sample every week, the average dividend yield has been 0.45%, the lowest has been 0.34%, and the highest has been 0.61%. The standard deviation of yields is 0.08 (n=29).
The current dividend yield is 1.41 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is 0.06. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company has not increased its dividend in the last three years.
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Analyst Price Forecast Suggests 1.38% Downside
As of March 2, 2023, the average one-year price target for ESAB is $59.84. The forecasts range from a low of $55.55 to a high of $64.05. The average price target represents a decrease of 1.38% from its latest reported closing price of $60.68.
The projected annual revenue for ESAB is $2,504MM, a decrease of 1.94%. The projected annual non-GAAP EPS is $4.08.
What is the Fund Sentiment?
There are 592 funds or institutions reporting positions in ESAB. This is an increase of 14 owner(s) or 2.42% in the last quarter. Average portfolio weight of all funds dedicated to ESAB is 0.22%, an increase of 32.43%. Total shares owned by institutions increased in the last three months by 14.30% to 67,814K shares. The put/call ratio of ESAB is 4.18, indicating a bearish outlook.
What are large shareholders doing?
T. Rowe Price Investment Management holds 8,518K shares representing 14.18% ownership of the company. In it's prior filing, the firm reported owning 6,597K shares, representing an increase of 22.55%. The firm increased its portfolio allocation in ESAB by 74.41% over the last quarter.
Cooke & Bieler holds 4,710K shares representing 7.84% ownership of the company. In it's prior filing, the firm reported owning 4,346K shares, representing an increase of 7.74%. The firm increased its portfolio allocation in ESAB by 38.99% over the last quarter.
RPMGX - T. Rowe Price Mid-Cap Growth Fund holds 3,132K shares representing 5.21% ownership of the company. In it's prior filing, the firm reported owning 2,978K shares, representing an increase of 4.90%. The firm increased its portfolio allocation in ESAB by 40.08% over the last quarter.
Diamond Hill Capital Management holds 2,614K shares representing 4.35% ownership of the company. In it's prior filing, the firm reported owning 2,988K shares, representing a decrease of 14.33%. The firm increased its portfolio allocation in ESAB by 16.57% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 1,740K shares representing 2.90% ownership of the company. In it's prior filing, the firm reported owning 1,529K shares, representing an increase of 12.16%. The firm increased its portfolio allocation in ESAB by 47.86% over the last quarter.
This story originally appeared on Fintel.