Alluvial Capital Management, an investment advisory firm, released its first-quarter 2024 investor letter. A copy of the same can be downloaded here. Alluvial Fund rose 6.3% in Q1, outperforming comparable indexes which were up between 4.3% and 5.2%. The overall increase was comprehensive, as multiple assets in the portfolio made significant contributions. In addition, you can check the top 5 holdings of the fund to know its best picks in 2024.
Alluvial Capital Management featured stocks like Crawford United Corporation (OTC:CRAWA) in the first quarter 2024 investor letter. Headquartered in Cleveland, Ohio, Crawford United Corporation (OTC:CRAWA) provides specialty industrial products. On May 3, 2024, Crawford United Corporation (OTC:CRAWA) stock closed at $42.00 per share. One-month return of Crawford United Corporation (OTC:CRAWA) was 1.20%, and its shares gained 150.75% of their value over the last 52 weeks. Crawford United Corporation (OTC:CRAWA) has a market capitalization of $148.687 million.
Alluvial Capital Management stated the following regarding Crawford United Corporation (OTC:CRAWA) in its first quarter 2024 investor letter:
“Finally, I could not be more pleased with the results that Crawford United Corporation (OTC:CRAWA) is putting up and the market’s reaction. For the year just ended, Crawford United earned $3.79 per share and produced free cash flow of $4.75 per share. Shares have rallied to the low $40s this year, but still represent a bargain. Crawford’s commercial air handling unit (think industrial HVAC) was the standout last year, with revenues up 23% and operating income up 130%. Results were more subdued at the industrial and transportation segment, but still up from 2022. Looking ahead, I expect continued growth at air handling, improved margins in industrial and transportation, and a solid contribution from the recently acquired Heany Industries.”
A service technician with a tool belt, inspecting an HVAC unit in a customer’s home.
Crawford United Corporation (OTC:CRAWA) is not on our list of 30 Most Popular Stocks Among Hedge Funds. In addition, please check out our hedge fund investor letters Q1 2024 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.