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

Hudson Value Partners LLC raised its holdings in shares of ESAB Co. (NYSE:ESAB) by 9.0% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 48,401 shares of the company’s stock after purchasing an additional 3,979 shares during the quarter. ESAB makes up approximately 2.0% of Hudson Value Partners LLC’s holdings, making the stock its 17th largest holding. Hudson Value Partners LLC’s holdings in ESAB were worth $5,146,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Price T Rowe Associates Inc. MD raised its position in shares of ESAB by 11.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 6,424,115 shares of the company’s stock worth $710,316,000 after purchasing an additional 653,377 shares during the period. Champlain Investment Partners LLC bought a new position in ESAB in the first quarter valued at approximately $33,811,000. International Assets Investment Management LLC acquired a new position in shares of ESAB in the third quarter valued at approximately $15,110,000. Acadian Asset Management LLC increased its position in shares of ESAB by 2,277.5% during the first quarter. Acadian Asset Management LLC now owns 93,770 shares of the company’s stock worth $10,359,000 after acquiring an additional 89,826 shares in the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new stake in shares of ESAB during the second quarter worth $8,277,000. 91.13% of the stock is currently owned by institutional investors.

ESAB Stock Performance

Shares of NYSE ESAB opened at $132.38 on Friday. The stock has a market capitalization of $8.00 billion, a PE ratio of 31.00, a price-to-earnings-growth ratio of 2.09 and a beta of 1.37. ESAB Co. has a 52 week low of $74.91 and a 52 week high of $135.97. The stock has a 50 day moving average price of $108.11 and a 200 day moving average price of $102.79. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.25 and a current ratio of 1.92.

ESAB (NYSE:ESAB) last released its earnings results on Tuesday, October 29th. The company reported $1.25 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.13. The business had revenue of $673.00 million during the quarter, compared to analysts’ expectations of $620.50 million. ESAB had a net margin of 9.47% and a return on equity of 17.27%. The firm’s revenue was down 1.2% on a year-over-year basis. During the same period last year, the business earned $1.08 earnings per share. Analysts predict that ESAB Co. will post 4.94 earnings per share for the current fiscal year.

ESAB Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Friday, September 27th were issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.24%. The ex-dividend date of this dividend was Friday, September 27th. ESAB’s payout ratio is currently 7.49%.

Insiders Place Their Bets

In other news, 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 value of $7,269,395.20. Following the completion of the sale, the chief executive officer now directly owns 53,902 shares of the company’s stock, valued at $6,627,789.92. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, Director Rhonda L. Jordan sold 4,254 shares of ESAB stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $125.03, for a total transaction of $531,877.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Shyam Kambeyanda sold 59,120 shares of the company’s stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $122.96, for a total value of $7,269,395.20. Following the completion of the transaction, the chief executive officer now directly owns 53,902 shares in the company, valued at approximately $6,627,789.92. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 68,418 shares of company stock valued at $8,431,773 over the last 90 days. 7.00% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Loop Capital upped their target price on shares of ESAB from $105.00 to $120.00 and gave the stock a “hold” rating in a research note on Wednesday, October 30th. Oppenheimer reaffirmed an “outperform” rating and set a $138.00 price objective (up from $122.00) on shares of ESAB in a research report on Wednesday, October 30th. Stifel Nicolaus dropped their target price on ESAB from $130.00 to $120.00 and set a “buy” rating on the stock in a research report on Thursday, July 18th. Bank of America boosted their target price on ESAB from $115.00 to $130.00 and gave the company a “buy” rating in a research note on Monday, August 5th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of ESAB from $120.00 to $128.00 and gave the company an “overweight” rating in a report on Monday, September 30th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $119.00.

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.