Choice Equities Capital Management, a hedge fund manager, released its fourth-quarter investor letter recently. You can view it here. In the fourth quarter, the fund returned +6.5% on a net basis compared to a +6.2% gain for the Russell 2000 Index and a +7.6% gain for the S&P 500 Index. In 2022 the fund returned -31.6% compared to -20.5% and -18.1% annual losses for the indexes, respectively. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.
Choice Equities Capital Management highlighted stocks like Orion Engineered Carbons S.A. (NYSE:OEC) in the fourth quarter 2022 investor letter. Headquartered in Senningerberg, Luxembourg, Orion Engineered Carbons S.A. (NYSE:OEC) manufactures carbon black products. On April 5, 2023, Orion Engineered Carbons S.A. (NYSE:OEC) stock closed at $24.95 per share. One-month return of Orion Engineered Carbons S.A. (NYSE:OEC) was -6.59%, and its shares gained 69.27% of their value over the last 52 weeks. Orion Engineered Carbons S.A. (NYSE:OEC) has a market capitalization of $1.515 billion.
Choice Equities Capital Management made the following comment about Orion Engineered Carbons S.A. (NYSE:OEC) in its Q4 2022 investor letter:
“Our holdings are generally performing as anticipated. As a general statement, despite the potential economic headwinds, we continue to expect growing cash flows, and in nearly all cases operating margin expansion, into next year and beyond.
Industrials – Orion Engineered Carbons S.A. (NYSE:OEC) and Wesco International Inc. (WCC) continue to execute as expected. Both market leading companies trade at single digit earnings multiples and offer strong growth prospects.”
Photo by Fahad Bin Kamal Anik on Unsplash
Orion Engineered Carbons S.A. (NYSE:OEC) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 27 hedge fund portfolios held Orion Engineered Carbons S.A. (NYSE:OEC) at the end of the fourth quarter which was 22 in the previous quarter.
We discussed Orion Engineered Carbons S.A. (NYSE:OEC) in another article and shared Ave Maria Focused Fund’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.