Gentherm (THRM) Declined as it Faced Some Slowing Order Patterns

Mairs & Power, an investment advisor, released the “Mairs & Power Small Cap Fund” fourth quarter 2023 investor letter. A copy of the same can be downloaded here. The Mairs & Power Small Cap Fund was up 11.04% in 2023 compared to the S&P Small Cap 600 TR benchmark’s 16.05% return, and the Morningstar U.S. Fund Small Blend’s 16.03% gain. The performance of various sectors varied throughout the year, with several sectors experiencing increased volatility. The Fund’s year-to-date underperformance compared to the benchmark can be attributed primarily to the strong performance of the Consumer Discretionary sector, in which the Fund has a significant underweight position. In addition, please check the fund’s top five holdings to know its best picks in 2023.

Mairs & Power Small Cap Fund featured stocks such as Gentherm Incorporated (NASDAQ:THRM) in the fourth quarter 2023 investor letter. Headquartered in Northville, Michigan, Gentherm Incorporated (NASDAQ:THRM) designs, develops, manufactures, and markets thermal management technologies. On January 31, 2024, Gentherm Incorporated (NASDAQ:THRM) stock closed at $48.15 per share. One-month return of Gentherm Incorporated (NASDAQ:THRM) was -3.60%, and its shares lost 34.92% of their value over the last 52 weeks. Gentherm Incorporated (NASDAQ:THRM) has a market capitalization of $1.579 billion.

Mairs & Power Small Cap Fund stated the following regarding Gentherm Incorporated (NASDAQ:THRM) in its fourth quarter 2023 investor letter:

“Looking at individual stocks, year-to-date relative underperformance was driven in part by several stocks. Gentherm Incorporated (NASDAQ:THRM), a Michigan-based provider of thermal management technologies for heating and cooling, and temperature control devices for various industries, has faced some slowing order patterns pertaining to automotive production rates and EV mix.”

A close up of a technician’s hands manipulating a temperature control system for a thermal system.

Gentherm Incorporated (NASDAQ:THRM) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 14 hedge fund portfolios held Gentherm Incorporated (NASDAQ:THRM) at the end of third quarter which was 16 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.