Investment management company First Pacific Advisors recently released its “FPA Queens Road Small Cap Value Fund” fourth quarter 2022 investor letter. A copy of the same can be downloaded here. In the fourth quarter, the fund returned 12.47% compared to an 8.42% return for the Russell 2000 Value Index. The fund delivered a -9.16% return in 2022 compared to a -14.48% return for the Russell 2000 Value Index. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.
FPA Queens Road Small Cap Value Fund highlighted stocks like Owens & Minor, Inc. (NYSE:OMI) in its Q4 2022 investor letter. Headquartered in Richmond, Virginia, Owens & Minor, Inc. (NYSE:OMI) is a healthcare solutions company. On February 8, 2023, Owens & Minor, Inc. (NYSE:OMI) stock closed at $22.41 per share. One-month return of Owens & Minor, Inc. (NYSE:OMI) was 12.16%, and its shares lost 46.68% of their value over the last 52 weeks. Owens & Minor, Inc. (NYSE:OMI) has a market capitalization of $1.708 billion.
FPA Queens Road Small Cap Value Fund made the following comment about Owens & Minor, Inc. (NYSE:OMI) in its Q4 2022 investor letter:
“Owens & Minor, Inc. (NYSE:OMI) makes and distributes medical and surgical supplies including masks, gowns and gloves (the Halyard Health S&IP business acquired in 2018). They over earned and paid down debt during COVID but re-levered up to acquire Apria, a manufacturer of home health equipment at the beginning of 2022. 14 Results have been coming in weaker and Q3 2022 was a miss. 15 The market is currently penalizing companies with deteriorating fundamentals and high debt loads.”
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Owens & Minor, Inc. (NYSE:OMI) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 15 hedge fund portfolios held Owens & Minor, Inc. (NYSE:OMI) at the end of the third quarter, which was 15 in the previous quarter.
We discussed Owens & Minor, Inc. (NYSE:OMI) in another article and shared Madison Funds’ 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.