Conestoga Capital Advisors, an asset administration firm, launched its “Small Cap Technique” fourth-quarter 2023 investor letter. A replica of the identical could 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 in the course of the down-market instances. Typically, 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 verify the fund’s prime 5 holdings to know its greatest picks in 2023.
Conestoga Capital Advisors Small Cap Technique featured shares reminiscent of 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 relating to 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 steering. Along with the robust elementary outcomes, the inventory actually benefited from decrease rates of interest in the course of the quarter, which improved market sentiment for housing-related shares.”
A employee on a development website utilizing specialised instruments to attach concrete blocks.
Simpson Manufacturing Co., Inc. (NYSE:SSD) will not be on our record of 30 Most Standard 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 accordance with our database.
We mentioned Simpson Manufacturing Co., Inc. (NYSE:SSD) in one other article and shared the record of lumber shares to spend money on 2023. As well as, please try 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.
