Is This the Best Time to Reap ESAB Corporation (ESAB) Stock?

TimesSquare Capital Management, an equity investment management company, released its “U.S. Small Cap Growth Strategy” second-quarter investor letter. A copy of the same can be downloaded here. In the second quarter, the strategy underperformed the Russell 2000 Growth Index and returned 2.50% (net), and the index return was 7.05%. Consumer Staples, Health Care, Industrials, and Information Technology showed relative weakness. However, Communication Services and Materials showed strength, partially offsetting the weakness. In addition, please check the fund’s top five holdings to know its best picks in 2023.

TimesSquare U.S. Small Cap Growth Strategy highlighted stocks like ESAB Corporation (NYSE:ESAB) in the second quarter 2023 investor letter. Headquartered in North Bethesda, Maryland, ESAB Corporation (NYSE:ESAB) is a fabrication technology and gas control solutions company. On September 22, 2023, ESAB Corporation (NYSE:ESAB) stock closed at $69.15 per share. One-month return of ESAB Corporation (NYSE:ESAB) was -2.41%, and its shares gained 104.59% of their value over the last 52 weeks. ESAB Corporation (NYSE:ESAB) has a market capitalization of $4.167 billion.

TimesSquare U.S. Small Cap Growth Strategy made the following comment about ESAB Corporation (NYSE:ESAB) in its Q2 2023 investor letter:

“ESAB Corporation (NYSE:ESAB) manufactures welding equipment and consumable products. First quarter revenues and earnings outpaced sell-side projections, driven by pricing improvement and volume gains. Management also raised forward guidance. ESAB gained 13% and we trimmed the position on this strength.”

ESAB Corporation (NYSE:ESAB) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 22 hedge fund portfolios held ESAB Corporation (NYSE:ESAB) at the end of second quarter which was 21 in the previous quarter.

We discussed ESAB Corporation (NYSE:ESAB) in another article and shared Diamond Hill Small Cap Fund’s views on the company. In addition, please check out our hedge fund investor letters Q2 2023 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.