ESAB Corporation (NYSE:ESAB) Shares Sold by Hunter Perkins Capital Management LLC

Hunter Perkins Capital Management LLC cut its holdings in shares of ESAB Corporation (NYSE:ESAB - Free Report) by 18.3% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 9,525 shares of the company's stock after selling 2,140 shares during the quarter. Hunter Perkins Capital Management LLC's holdings in ESAB were worth $1,110,000 at the end of the most recent reporting period.

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

Insider Activity

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

Wall Street Analysts Forecast Growth

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

ESAB Price Performance

ESAB stock traded down $0.16 during trading on Monday, hitting $120.54. The stock had a trading volume of 191,463 shares, compared to its average volume of 275,623. The company's 50-day moving average price is $122.76 and its two-hundred day moving average price is $121.36. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.91 and a quick ratio of 1.24. The stock has a market capitalization of $7.31 billion, a P/E ratio of 27.15, a PEG ratio of 2.95 and a beta of 1.31. ESAB Corporation has a twelve month low of $88.54 and a twelve month 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 earnings per share for the quarter, topping the consensus estimate of $1.18 by $0.07. The firm had revenue of $678.14 million for the quarter, compared to the consensus estimate of $633.66 million. ESAB had a net margin of 9.98% and a return on equity of 16.98%. The company's revenue for the quarter was down 1.7% on a year-over-year basis. During the same period last year, the firm posted $1.20 earnings per share. As a group, research analysts predict that ESAB Corporation will post 5.16 EPS for the current fiscal year.

ESAB Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 18th. Shareholders of record on Thursday, July 3rd will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.33%. This is a positive change from ESAB's previous quarterly dividend of $0.08. The ex-dividend date of this dividend is Thursday, July 3rd. ESAB's dividend payout ratio (DPR) is 7.21%.

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.