Bernzott Capital on Janus International (JBI): “Fundamentals Remain Strong and Cost Issues are Transient”

Bernzott Capital Advisors, an investment management firm, published its “US Small Cap Value Fund” first quarter 2022 investor letter – a copy of which can be downloaded here. The portfolio fell -4.6% (gross), modestly below the Russell 2000 Value’s decline of -2.4% and the Russell 2500 Value’s decline of -1.5% for the first quarter of 2022. Try to spend some time taking a look at the fund’s top 5 holdings to be informed about their best picks for 2022.

In its Q1 2022 investor letter, Bernzott Capital US Small Cap Value Fund mentioned Janus International Group, Inc. (NYSE:JBI) and explained its insights for the company. Founded in 2002, Janus International Group, Inc. (NYSE:JBI)  is a Georgia, United States-based turnkey solutions for self-storage, commercial and industrial buildings manufacturer with a $1.2 billion market capitalization. Janus International Group, Inc. (NYSE:JBI) delivered a -33.63% return since the beginning of the year, while its 12-month returns are down by -35.23%. The stock closed at $8.19 per share on May 10, 2022.

Here is what Bernzott Capital US Small Cap Value Fund has to say about Janus International Group, Inc. (NYSE:JBI) in its Q1 2022 investor letter:

“Janus International (NYSE:JBI): This manufacturer of self-storage and commercial building solutions was the largest detractor. While business activity is strong and backlog levels are at all-time high, higher steel prices negatively impacted the bottom line. JBI implemented price increases to offset the inflationary pressures going forward and steel prices have moderated which should provide better results. Fundamentals remain strong and cost issues are transient. We anticipate improvement based on strong market share.”

Photo by JOSHUA COLEMAN on Unsplash

Our calculations show that Janus International Group, Inc. (NYSE:JBI) fell short and didn’t make it on our list of the 30 Most Popular Stocks Among Hedge Funds. Janus International Group, Inc. (NYSE:JBI)was in 21 hedge fund portfolios at the end of the fourth quarter of 2021, compared to 22 funds in the previous quarter. Janus International Group, Inc. (NYSE:JBI) delivered a -23.90% return in the past 3 months.

In September 2021, we also shared another hedge fund’s views on Janus International Group, Inc. (NYSE:JBI) in another article. You can find other investor letters from hedge funds and prominent investors on our hedge fund investor letters 2022 Q1 page.

Disclosure: None. This article is originally published at Insider Monkey.