Hudson Value Partners LLC Has $5.72 Million Position in ESAB Co. (NYSE:ESAB)

Hudson Value Partners LLC cut its holdings in shares of ESAB Co. (NYSE:ESAB) by 1.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 47,678 shares of the company’s stock after selling 723 shares during the quarter. ESAB accounts for 2.1% of Hudson Value Partners LLC’s holdings, making the stock its 13th largest position. Hudson Value Partners LLC’s holdings in ESAB were worth $5,718,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. FMR LLC grew its position in ESAB by 6.2% in the third quarter. FMR LLC now owns 2,196,522 shares of the company’s stock valued at $233,512,000 after acquiring an additional 127,714 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of ESAB by 21.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,900,115 shares of the company’s stock worth $202,001,000 after acquiring an additional 337,983 shares in the last quarter. State Street Corp increased its holdings in shares of ESAB by 3.4% during the third quarter. State Street Corp now owns 1,692,161 shares of the company’s stock valued at $180,028,000 after acquiring an additional 55,458 shares in the last quarter. Geode Capital Management LLC increased its stake in ESAB by 19.7% during the 3rd quarter. Geode Capital Management LLC now owns 1,160,056 shares of the company’s stock valued at $123,353,000 after purchasing an additional 190,583 shares in the last quarter. Finally, Champlain Investment Partners LLC boosted its stake in ESAB by 33.5% during the 3rd quarter. Champlain Investment Partners LLC now owns 1,081,639 shares of the company’s stock valued at $114,989,000 after purchasing an additional 271,459 shares during the last quarter. 91.13% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently commented on ESAB. Loop Capital lifted their price target on ESAB from $105.00 to $120.00 and gave the stock a “hold” rating in a report on Wednesday, October 30th. Stifel Nicolaus lifted their price objective on shares of ESAB from $130.00 to $131.00 and gave the company a “hold” rating in a research note on Friday, January 24th. Evercore ISI cut ESAB from an “in-line” rating to an “underperform” rating and raised their price target for the company from $102.00 to $122.00 in a report on Wednesday, November 13th. Jefferies Financial Group initiated coverage on shares of ESAB in a research report on Thursday, December 12th. They set a “buy” rating and a $160.00 price target on the stock. Finally, Oppenheimer restated an “outperform” rating and set a $144.00 price target (up from $138.00) on shares of ESAB in a research report on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $133.57.

ESAB Stock Up 2.0 %

NYSE ESAB opened at $131.73 on Wednesday. The company has a current ratio of 1.92, a quick ratio of 1.25 and a debt-to-equity ratio of 0.58. The stock has a market cap of $7.96 billion, a PE ratio of 30.85, a P/E/G ratio of 2.08 and a beta of 1.36. ESAB Co. has a 12 month low of $88.54 and a 12 month high of $135.97. The stock’s 50 day moving average is $122.92 and its 200 day moving average is $115.06.

ESAB Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, January 17th. Shareholders of record on Tuesday, December 31st were issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.24%. The ex-dividend date of this dividend was Tuesday, December 31st. ESAB’s payout ratio is 7.49%.

ESAB 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.