Conestoga Capital Advisors, an asset administration firm, launched its “Small Cap Technique” fourth-quarter 2023 investor letter. A duplicate of the identical might be downloaded right here. In 2023, the Small Cap Composite outperformed the Russell 2000 Development Index benchmark and returned 21.93% versus the benchmark’s return of 18.66%. The technique rose 10.97% net-of-fees within the fourth quarter in comparison with the 12.75% return for the index. As anticipated, the technique produced the vast majority of its outperformance through the down-market occasions. Generally, 2023 had blended outcomes for better-caliber companies. Sector allocations contributed extra to Conestoga’s relative efficiency within the Small Cap Composite than inventory choice results did. As well as, please examine the fund’s high 5 holdings to know its finest picks in 2023.
Conestoga Capital Advisors Small Cap Technique featured shares corresponding to Simpson Manufacturing Co., Inc. (NYSE:SSD) within the fourth quarter 2023 investor letter. Headquartered in Pleasanton, California, Simpson Manufacturing Co., Inc. (NYSE:SSD) designs, engineers, manufactures, and sells wooden and concrete development merchandise. On February 16, 2024, Simpson Manufacturing Co., Inc. (NYSE:SSD) inventory closed at $193.79 per share. One-month return of Simpson Manufacturing Co., Inc. (NYSE:SSD) was 6.29%, and its shares gained 74.41% of their worth during the last 52 weeks. Simpson Manufacturing Co., Inc. (NYSE:SSD) has a market capitalization of $8.27 billion.
Conestoga Capital Advisors Small Cap Technique said the next concerning Simpson Manufacturing Co., Inc. (NYSE:SSD) in its fourth quarter 2023 investor letter:
“Simpson Manufacturing Co., Inc. (NYSE:SSD): SSD designs and manufactures connectors, fasteners, and anchors utilized in residential and business development. The corporate’s 3Q outcomes continued to exhibit its very robust enterprise mannequin. The corporate barely exceeded income and earnings expectations for 3Q. It additionally modestly raised working margin steerage. Along with the robust basic outcomes, the inventory definitely benefited from decrease rates of interest through the quarter, which improved market sentiment for housing-related shares.”
A employee on a development web site utilizing specialised instruments to attach concrete blocks.
Simpson Manufacturing Co., Inc. (NYSE:SSD) just isn’t on our checklist of 30 Most In style Shares Amongst Hedge Funds. On the finish of the fourth quarter, Simpson Manufacturing Co., Inc. (NYSE:SSD) was held by 19 hedge fund portfolios, down from 22 within the earlier quarter, in response to our database.
We mentioned Simpson Manufacturing Co., Inc. (NYSE:SSD) in one other article and shared the checklist of lumber shares to put money into 2023. As well as, please take a look at our hedge fund investor letters This autumn 2023 web page for extra investor letters from hedge funds and different main traders.
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Disclosure: None. This text is initially printed at Insider Monkey.
