ESAB (ESAB) Declares $0.06 Dividend
ESAB said on May 11, 2023 that its board of directors declared a regular quarterly dividend of $0.06 per share ($0.24 annualized). Previously, the company paid $0.05 per share.
Shares must be purchased before the ex-div date of June 29, 2023 to qualify for the dividend. Shareholders of record as of June 30, 2023 will receive the payment on July 14, 2023.
At the current share price of $59.45 / share, the stock's dividend yield is 0.40%.
Looking back five years and taking a sample every week, the average dividend yield has been 0.42%, the lowest has been 0.34%, and the highest has been 0.61%. The standard deviation of yields is 0.08 (n=39).
The current dividend yield is 0.19 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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What is the Fund Sentiment?
There are 596 funds or institutions reporting positions in ESAB. This is an increase of 40 owner(s) or 7.19% in the last quarter. Average portfolio weight of all funds dedicated to ESAB is 0.22%, an increase of 45.53%. Total shares owned by institutions increased in the last three months by 11.95% to 67,550K shares. 
The put/call ratio of ESAB is 0.93, indicating a bullish outlook.
Analyst Price Forecast Suggests 15.38% Upside
As of May 11, 2023, the average one-year price target for ESAB is 68.60. The forecasts range from a low of 61.61 to a high of $78.75. The average price target represents an increase of 15.38% from its latest reported closing price of 59.45.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for ESAB is 2,504MM, a decrease of 4.78%. The projected annual non-GAAP EPS is 4.08.
What are Other Shareholders Doing?
T. Rowe Price Investment Management holds 8,518K shares representing 14.14% 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 3,872K shares representing 6.43% ownership of the company. In it's prior filing, the firm reported owning 4,710K shares, representing a decrease of 21.64%. The firm decreased its portfolio allocation in ESAB by 32.12% over the last quarter.
RPMGX - T. Rowe Price Mid-Cap Growth Fund holds 3,132K shares representing 5.20% 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 2,434K shares representing 4.04% ownership of the company. In it's prior filing, the firm reported owning 2,614K shares, representing a decrease of 7.37%. The firm increased its portfolio allocation in ESAB by 20.80% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 1,740K shares representing 2.89% 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.