Bernzott Capital Advisors, an investment management company, released its “US Small Cap Value Strategy’’ second quarter 2022 investor letter. A copy of the same can be downloaded here. In the second quarter, on a net basis, the fund fell -17.73%, more than the R2000V’s decline of -15.28% and R2500V’s decline of -15.39%. Industrials and healthcare sectors contributed positively to the fund’s relative performance, whereas transportation, materials, and financials sectors hurt the fund’s performance. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.
Bernzott Capital Advisors discussed stocks like Compass Minerals International, Inc. (NYSE:CMP) in the second quarter investor letter. Headquartered in Overland Park, Kansas, Compass Minerals International, Inc. (NYSE:CMP) engages in the business of essential mineral production and distribution. On September 8, 2022, Compass Minerals International, Inc. (NYSE:CMP) stock closed at $38.77 per share. One-month return of Compass Minerals International, Inc. (NYSE:CMP) was -10.30% and its shares lost 41.65% of their value over the last 52 weeks. Compass Minerals International, Inc. (NYSE:CMP) has a market capitalization of $1.324 billion.
Here is what Bernzott Capital Advisors specifically said about Compass Minerals International, Inc. (NYSE:CMP) in its Q2 2022 investor letter:
“Compass Minerals International, Inc. (NYSE:CMP): Despite a strong winter season in which salt volumes came in higher than expectations buoyed by a more normalized snowfall year, higher logistics and freight costs negatively impacted the bottom line. Within their plant nutrient segment, margins remained strong driven by strong potash pricing, however drought conditions negatively impacted overall volumes. Looking ahead, CMP should benefit from improved pricing during the upcoming salt selling season while actions taken within their plant segment to improve efficiencies should help improve overall results. Finally, the company is making progress in the development of its Lithium assets, supported by a recent offtake agreement with a leading global manufacturer of lithium-ion batteries which we believe is not reflected in the current stock price.”
Compass Minerals International, Inc. (NYSE:CMP) is not on the list of 30 Most Popular Stocks Among Hedge Funds. As per our database, Compass Minerals International, Inc. (NYSE:CMP) was held by 17 hedge fund portfolios at the end of the second quarter, which was 13 in the previous quarter.
We discussed Compass Minerals International, Inc. (NYSE:CMP) in another article and shared Cove Street Capital’s views on the company. You can check out our hedge fund investor letters Q2 2022 page for more investor letters from hedge funds and other prominent investors.
Disclosure: None. This article is originally published at Insider Monkey.
