Is This The Time To Increase Your Holdings in ESAB Corporation (ESAB)?

TimesSquare Capital Management, an equity investment management company, released its “U.S. Small Cap Growth Strategy” third-quarter investor letter. A copy of the same can be downloaded here. In the third quarter, the strategy outperformed the Russell 2000 Growth Index and returned 3.28% (net), and the index return was 0.24%. Strength in Industrials, Consumer Staples, Consumer Discretionary, and Information Technology sectors contributed to the strategy’s outperformance in the quarter. In addition, please check the fund’s top five holdings to know its best picks in 2022.

TimesSquare Capital highlighted stocks like ESAB Corporation (NYSE:ESAB) in its Q3 2022 investor letter. Headquartered in North Bethesda, Maryland, ESAB Corporation (NYSE:ESAB) is a fabrication technology company. On December 19, 2022, ESAB Corporation (NYSE:ESAB) stock closed at $47.15 per share. One-month return of ESAB Corporation (NYSE:ESAB) was 1.27%, and in three months, its shares gained 24.24% of their value. ESAB Corporation (NYSE:ESAB) has a market capitalization of $2.833 billion.

TimesSquare Capital made the following comment about ESAB Corporation (NYSE:ESAB) in its Q3 2022 investor letter:

“Countering some of that gain was the -24% slip from the global welding company ESAB Corporation (NYSE:ESAB). While ESAB’s revenues and earnings were better than expected, the guidance for the balance of the year was lower. A spinoff from a larger company in the spring (when we initiated our position), ESAB has a limited sellside following and recently began excluding its Russian operations from its reporting, which can cause short-term price volatility. However, ESAB successfully increased prices for its welding equipment and sees opportunities in Europe and the emerging markets. We continued to build our position during this quarter’s price weakness.”

ESAB Corporation (NYSE:ESAB) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 24 hedge fund portfolios held ESAB Corporation (NYSE:ESAB) at the end of the third quarter, which was 19 in the previous quarter.

We discussed ESAB Corporation (NYSE:ESAB) in another article and shared Diamond Hill Capital’s views on the company. In addition, please check out our hedge fund investor letters Q3 2022 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.