Hudson Value Partners LLC Sells 2,974 Shares of ESAB Corporation (NYSE:ESAB)

Hudson Value Partners LLC trimmed its position in ESAB Corporation (NYSE:ESAB - Free Report) by 6.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 44,704 shares of the company's stock after selling 2,974 shares during the period. ESAB makes up approximately 2.0% of Hudson Value Partners LLC's holdings, making the stock its 14th biggest holding. Hudson Value Partners LLC owned 0.07% of ESAB worth $5,208,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of ESAB. EverSource Wealth Advisors LLC raised its holdings in ESAB by 70.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 218 shares of the company's stock worth $26,000 after buying an additional 90 shares during the period. SBI Securities Co. Ltd. acquired a new stake in ESAB during the 4th quarter worth approximately $36,000. Kapitalo Investimentos Ltda acquired a new stake in ESAB during the 4th quarter worth approximately $47,000. Farther Finance Advisors LLC raised its holdings in ESAB by 1,128.9% during the 1st quarter. Farther Finance Advisors LLC now owns 467 shares of the company's stock worth $56,000 after buying an additional 429 shares during the period. Finally, UMB Bank n.a. raised its holdings in ESAB by 323.8% during the 1st quarter. UMB Bank n.a. now owns 534 shares of the company's stock worth $62,000 after buying an additional 408 shares during the period. 91.13% of the stock is currently owned by institutional investors and hedge funds.

ESAB Stock Up 1.6%

Shares of NYSE ESAB traded up $1.90 during midday trading on Monday, reaching $117.53. The company's stock had a trading volume of 331,396 shares, compared to its average volume of 275,514. ESAB Corporation has a fifty-two week low of $88.54 and a fifty-two week high of $135.97. The company has a current ratio of 1.91, a quick ratio of 1.24 and a debt-to-equity ratio of 0.54. The stock has a 50 day simple moving average of $122.29 and a 200-day simple moving average of $121.62. The stock has a market capitalization of $7.12 billion, a price-to-earnings ratio of 26.47, a PEG ratio of 2.82 and a beta of 1.31.

ESAB (NYSE:ESAB - Get Free Report) last released its earnings results on Thursday, May 1st. The company reported $1.25 earnings per share for the quarter, beating the consensus estimate of $1.18 by $0.07. ESAB had a net margin of 9.98% and a return on equity of 16.98%. The business had revenue of $678.14 million during the quarter, compared to analysts' expectations of $633.66 million. During the same period last year, the business earned $1.20 earnings per share. The firm's revenue was down 1.7% on a year-over-year basis. Equities research analysts predict that ESAB Corporation will post 5.16 earnings per share for the current year.

ESAB Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 18th. Investors of record on Thursday, July 3rd will be paid a $0.10 dividend. The ex-dividend date of this dividend is Thursday, July 3rd. This is a boost from ESAB's previous quarterly dividend of $0.08. This represents a $0.40 annualized dividend and a dividend yield of 0.34%. ESAB's dividend payout ratio (DPR) is currently 7.21%.

Insider Activity at ESAB

In other ESAB news, Director Rhonda L. Jordan sold 1,500 shares of ESAB stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $126.42, for a total transaction of $189,630.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Olivier Biebuyck sold 1,417 shares of ESAB stock in a transaction on Monday, May 12th. The stock was sold at an average price of $131.15, for a total transaction of $185,839.55. Following the transaction, the insider now directly owns 14,989 shares of the company's stock, valued at approximately $1,965,807.35. This trade represents a 8.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. 7.30% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several brokerages have commented on ESAB. Evercore ISI raised their target price on shares of ESAB from $120.00 to $125.00 and gave the stock an "in-line" rating in a report on Monday, May 19th. UBS Group upgraded shares of ESAB from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $123.00 to $147.00 in a report on Tuesday, April 1st. JPMorgan Chase & Co. lifted their price objective on shares of ESAB from $133.00 to $140.00 and gave the company an "overweight" rating in a report on Tuesday, March 18th. Robert W. Baird set a $143.00 price objective on shares of ESAB in a report on Friday, May 2nd. Finally, Stifel Nicolaus lifted their price objective on shares of ESAB from $109.00 to $126.00 and gave the company a "hold" rating in a report on Friday, May 2nd. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat.com, ESAB currently has an average rating of "Moderate Buy" and an average price target of $137.22.

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.