Chartwell Investment Partners, an asset management company, released its second quarter 2022 investor letter. A copy of the same can be downloaded here. For the second quarter, Chartwell-managed accounts fell in line with their respective index benchmarks, however, the Chartwell Dividend Model outperformed by a significant margin versus its benchmark. Go over the fund’s top 5 positions to have a glimpse of its finest picks for 2022.
In its Q2 2022 investor letter, Chartwell Investment Partners mentioned Brunswick Corporation (NYSE:BC) and explained its insights for the company. Founded in 1845, Brunswick Corporation (NYSE:BC) is a Mettawa, Illinois-based publicly held company with a $5.0 billion market capitalization. Brunswick Corporation (NYSE:BC) delivered a -32.41% return since the beginning of the year, while its 12-month returns are down by -30.62%. The stock closed at $68.08 per share on September 22, 2022.
Here is what Chartwell Investment Partners has to say about Brunswick Corporation (NYSE:BC) in its Q2 2022 investor letter:
“We also took advantage of the sell-off in boat & engine manufacturer Brunswick Corp. (NYSE:BC, 2.3%) and added to the holding. This stock sells at less than 7 times its annual earnings per share ’22 EPS estimates. The company recently held an analyst briefing and quantified the downside to sales, margins, and earnings in an economic downturn. We think the stock is attractively priced even in that scenario and that it is a long-term double-digit-percentage earnings grower.
Our calculations show that Brunswick Corporation (NYSE:BC) fell short and didn’t make it on our list of the 30 Most Popular Stocks Among Hedge Funds. Brunswick Corporation (NYSE:BC) was in 36 hedge fund portfolios at the end of the second quarter of 2022, compared to 36 funds in the previous quarter. Brunswick Corporation (NYSE:BC) delivered a 3.04% return in the past 3 months.
In June 2022, we published an article that includes Brunswick Corporation (NYSE:BC) in 10 Stocks In Trouble as Americans Cut Back on Spending. You can find other investor letters from hedge funds and prominent investors on our hedge fund investor letters 2022 Q2 page.
Disclosure: None. This article is originally published at Insider Monkey.