Diamond Hill Capital, an investment management company, released its “Small Cap Strategy” fourth-quarter 2022 investor letter. A copy of the same can be downloaded here. In the fourth quarter, the fund returned 6.98% net of fees, outperforming the benchmark Russell 2000 Index, which returned 6.23%. Strength in health care, consumer discretionary, and materials holdings contributed to the fund’s outperformance in the quarter while holdings in energy and information technology detracted from the performance. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.
Diamond Hill Capital highlighted stocks like Oil-Dri Corporation of America (NYSE:ODC) in its Q4 2022 investor letter. Headquartered in Chicago, Illinois, Oil-Dri Corporation of America (NYSE:ODC) is a sorbent products manufacturer and distributor. On January 26, 2023, Oil-Dri Corporation of America (NYSE:ODC) stock closed at $35.05 per share. One-month return of Oil-Dri Corporation of America (NYSE:ODC) was 4.50%, and its shares gained 6.15% of their value over the last 52 weeks. Oil-Dri Corporation of America (NYSE:ODC) has a market capitalization of $250.739 million.
Diamond Hill Capital made the following comment about Oil-Dri Corporation of America (NYSE:ODC) in its Q4 2022 investor letter:
“Oil-Dri Corporation of America (NYSE:ODC) is a leading manufacturer and supplier of specialty sorbent products for a variety of end markets. The company’s vertically integrated clay mines (clay is a common ingredient in its finished products) represent a meaningful barrier to entry. ODC’s innovative, novel and proprietary animal health products also offer potential upside, as does its attractive position in value-oriented lightweight cat litter. Under long-term family ownership, the company has a history of maintaining a solid balance sheet and prudently deploying capital and cash, contributing to our confidence about the company’s three- to five-year outlook.”
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Oil-Dri Corporation of America (NYSE:ODC) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 3 hedge fund portfolios held Oil-Dri Corporation of America (NYSE:ODC) at the end of the third quarter, which was 5 in the previous quarter.
We discussed Oil-Dri Corporation of America (NYSE:ODC) in another article and shared Palm Valley Capital Management’s views on the company. In addition, please check out our hedge fund investor letters Q4 2022 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.
