Here’s Why Wasatch Global Decided to Keep its Altra Industrial Motion (AIMC) Shares

Wasatch Global Investors, an investment management firm, published its “Wasatch Small Cap Value Fund” first quarter 2022 investor letter – a copy of which can be downloaded here. The Wasatch Small Cap Value Fund—Investor Class fell by -9.88% and underperformed the value benchmark in the quarter. The fund’s approach tends to place the Fund at the “growthier” end of the value category, which was positive for much of 2020–21 but proved to be a headwind in the first three months 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, Wasatch Small Cap Value Fund mentioned Altra Industrial Motion Corp. (NASDAQ:AIMC) and explained its insights for the company. Founded in 2004, Altra Industrial Motion Corp. (NASDAQ:AIMC) is a Braintree, Massachusetts-based machinery industry company with a $2.2 billion market capitalization. Altra Industrial Motion Corp. (NASDAQ:AIMC) delivered a -33.62% return since the beginning of the year, while its 12-month returns are down by -42.89%. The stock closed at $34.23 per share on June 17, 2022.

Here is what Wasatch Small Cap Value Fund has to say about Altra Industrial Motion Corp. (NASDAQ:AIMC) in its Q1 2022 investor letter:

“Companies with international exposure in terms of both sourcing and customers were hurt by increased supply-chain disruptions. Fund holdings Altra Industrial Motion Corp. (NASDAQ:AIMC) felt some of these pressures in the first quarter. We maintained holdings in the company on the view that it is well-positioned to grow once shorter-term issues have dissipated.”

Our calculations show that Altra Industrial Motion Corp. (NASDAQ:AIMC) fell short and didn’t make it on our list of the 30 Most Popular Stocks Among Hedge Funds. Altra Industrial Motion Corp. (NASDAQ:AIMC) was in 19 hedge fund portfolios at the end of the first quarter of 2022, compared to 11 funds in the previous quarter. Altra Industrial Motion Corp. (NASDAQ:AIMC) delivered a -16.21% return in the past 3 months.

In March 2022, we also shared another hedge fund’s views on Altra Industrial Motion Corp. (NASDAQ:AIMC) 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.