ESAB Corporation (ESAB) Outstripped Expectations in Q4
TimesSquare Capital Management, an equity investment management company, released its “U.S. Small Cap Growth Strategy” fourth-quarter investor letter. A copy of the same can be downloaded here. In the quarter the fund returned 9.15% (net), compared to a 12.75% return for the Russell 2000 Growth Index. For the year, the fund returned 15.96% (net) compared to 18.66% for the index. In addition, please check the fund’s top five holdings to know its best picks in 2023.
TimesSquare Capital U.S. Small Cap Growth Strategy featured stocks like ESAB Corporation (NYSE:ESAB) in the fourth quarter 2023 investor letter. Headquartered in North Bethesda, Maryland, ESAB Corporation (NYSE:ESAB) is a fabrication technology and gas control solutions company. On March 21, 2024, ESAB Corporation (NYSE:ESAB) stock closed at $108.12 per share. One-month return of ESAB Corporation (NYSE:ESAB) was 14.46%, and its shares gained 91.06% of their value over the last 52 weeks. ESAB Corporation (NYSE:ESAB) has a market capitalization of $6.524 billion.
TimesSquare Capital U.S. Small Cap Growth Strategy stated the following regarding ESAB Corporation (NYSE:ESAB) in its fourth quarter 2023 investor letter:
"Many of our Industrials positions provide necessary business-to-business operational services, highly technical components, automation & efficiency improvements, or essential infrastructure services. Here there was a strong contribution from the global welding company ESAB Corporation (NYSE:ESAB). Revenues and earnings outstripped expectations. Business activity was stronger than anticipated with resilience in most markets and steady volumes, especially from emerging markets. ESAB’s management increased its guidance, and we trimmed our position during its 23% climb."
A welder wearing protective gear and goggles, completing a welding job in a modern factory.
ESAB Corporation (NYSE:ESAB) is not on our list of 30 Most Popular Stocks Among Hedge Funds. At the end of the fourth quarter, ESAB Corporation (NYSE:ESAB) was held by 23 hedge fund portfolios, compared to 20 in the previous quarter, according to our database.
We discussed ESAB Corporation (NYSE:ESAB) in another article and shared Diamond Hill Mid Cap Strategy's views on the company in the previous quarter. In addition, please check out our hedge fund investor letters Q4 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.
