ESAB Corporation (NYSE:ESAB) Shares Sold by Hudson Value Partners LLC

Hudson Value Partners LLC reduced its holdings in shares of ESAB Corporation (NYSE:ESAB - Free Report) by 6.2% in the first quarter, according to the company in 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 accounts for about 2.0% of Hudson Value Partners LLC's investment portfolio, making the stock its 14th largest holding. Hudson Value Partners LLC owned about 0.07% of ESAB worth $5,208,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. SBI Securities Co. Ltd. purchased a new position in ESAB in the fourth quarter worth about $36,000. Advantage Alpha Capital Partners LP grew its stake in shares of ESAB by 8.5% in the fourth quarter. Advantage Alpha Capital Partners LP now owns 32,775 shares of the company's stock worth $3,931,000 after acquiring an additional 2,571 shares during the period. Atria Investments Inc grew its stake in shares of ESAB by 30.1% in the fourth quarter. Atria Investments Inc now owns 9,279 shares of the company's stock worth $1,113,000 after acquiring an additional 2,147 shares during the period. Charles Schwab Investment Management Inc. grew its position in ESAB by 0.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 518,712 shares of the company's stock valued at $62,214,000 after buying an additional 1,391 shares during the period. Finally, Sei Investments Co. grew its position in ESAB by 8.1% during the fourth quarter. Sei Investments Co. now owns 132,642 shares of the company's stock valued at $15,909,000 after buying an additional 9,930 shares during the period. 91.13% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other ESAB news, Director Rhonda L. Jordan sold 1,500 shares of the stock in a transaction dated 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 document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Olivier Biebuyck sold 1,417 shares of the stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $131.15, for a total transaction of $185,839.55. Following the completion of the transaction, the insider now directly owns 14,989 shares of the company's stock, valued at $1,965,807.35. The trade was 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 insiders.

ESAB Trading Up 2.4%

ESAB stock traded up $2.83 during mid-day trading on Thursday, reaching $121.49. 296,394 shares of the stock traded hands, compared to its average volume of 276,758. The business has a 50-day moving average price of $122.62 and a two-hundred day moving average price of $121.53. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.24 and a current ratio of 1.91. The stock has a market capitalization of $7.36 billion, a PE ratio of 27.36, a PEG ratio of 2.90 and a beta of 1.31. ESAB Corporation has a one year low of $88.54 and a one year high of $135.97.

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

ESAB Increases Dividend

The firm also recently disclosed 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 positive change from ESAB's previous quarterly dividend of $0.08. This represents a $0.40 dividend on an annualized basis and a yield of 0.33%. ESAB's dividend payout ratio is 7.21%.

Wall Street Analyst Weigh In

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

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.