Hudson Value Partners LLC Buys 3,979 Shares of ESAB Co. (NYSE:ESAB)

Hudson Value Partners LLC lifted its stake in shares of ESAB Co. (NYSE:ESAB - Free Report) by 9.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 48,401 shares of the company's stock after acquiring an additional 3,979 shares during the quarter. ESAB comprises about 2.0% of Hudson Value Partners LLC's investment portfolio, making the stock its 17th biggest holding. Hudson Value Partners LLC owned 0.08% of ESAB worth $5,146,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD boosted its position in shares of ESAB by 11.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,424,115 shares of the company's stock valued at $710,316,000 after purchasing an additional 653,377 shares during the period. TD Asset Management Inc boosted its holdings in shares of ESAB by 5.4% in the second quarter. TD Asset Management Inc now owns 531,122 shares of the company's stock worth $50,154,000 after buying an additional 27,202 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of ESAB by 4.5% during the second quarter. Bank of New York Mellon Corp now owns 490,532 shares of the company's stock valued at $46,321,000 after acquiring an additional 21,025 shares during the period. Allspring Global Investments Holdings LLC lifted its position in shares of ESAB by 7.9% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 466,517 shares of the company's stock valued at $49,595,000 after acquiring an additional 34,161 shares in the last quarter. Finally, Champlain Investment Partners LLC acquired a new position in ESAB in the 1st quarter worth approximately $33,811,000. Institutional investors own 91.13% of the company's stock.

ESAB Price Performance

ESAB traded down $1.16 during midday trading on Friday, reaching $131.22. 258,279 shares of the company's stock were exchanged, compared to its average volume of 252,141. The company has a quick ratio of 1.25, a current ratio of 1.92 and a debt-to-equity ratio of 0.58. The business has a 50-day simple moving average of $108.64 and a two-hundred day simple moving average of $102.97. The firm has a market capitalization of $7.93 billion, a price-to-earnings ratio of 30.73, a price-to-earnings-growth ratio of 2.09 and a beta of 1.37. ESAB Co. has a one year low of $75.24 and a one year high of $135.97.

ESAB (NYSE:ESAB - Get Free Report) last issued its quarterly earnings data on Tuesday, October 29th. The company reported $1.25 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.13. ESAB had a net margin of 9.47% and a return on equity of 17.27%. The firm had revenue of $673.00 million for the quarter, compared to analysts' expectations of $620.50 million. During the same period in the prior year, the firm earned $1.08 earnings per share. The company's quarterly revenue was down 1.2% compared to the same quarter last year. As a group, research analysts predict that ESAB Co. will post 4.94 EPS for the current year.

ESAB Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Friday, September 27th were paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.24%. The ex-dividend date was Friday, September 27th. ESAB's dividend payout ratio (DPR) is currently 7.49%.

Insider Buying and Selling

In related news, Director Rhonda L. Jordan sold 4,254 shares of ESAB stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $125.03, for a total transaction of $531,877.62. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other ESAB news, Director Rhonda L. Jordan sold 4,254 shares of the stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $125.03, for a total value of $531,877.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Shyam Kambeyanda sold 59,120 shares of the firm's stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $122.96, for a total transaction of $7,269,395.20. Following the sale, the chief executive officer now owns 53,902 shares in the company, valued at $6,627,789.92. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 68,418 shares of company stock valued at $8,431,773 over the last three months. Company insiders own 7.00% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on ESAB shares. Bank of America raised their price objective on ESAB from $115.00 to $130.00 and gave the stock a "buy" rating in a research report on Monday, August 5th. Evercore ISI lowered their price objective on shares of ESAB from $107.00 to $102.00 and set an "in-line" rating on the stock in a research report on Monday, August 19th. Oppenheimer reiterated an "outperform" rating and issued a $144.00 target price (up previously from $138.00) on shares of ESAB in a research report on Friday. Loop Capital boosted their price target on shares of ESAB from $105.00 to $120.00 and gave the company a "hold" rating in a report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. increased their price objective on ESAB from $120.00 to $128.00 and gave the stock an "overweight" rating in a report on Monday, September 30th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $119.86.

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.