The London Company, an investment management company, released “The London Company Small Cap Strategy” first quarter 2024 investor letter. A copy of the letter can be downloaded here. In the quarter, the fund gained 8.3% (8.2%, net) compared to a 5.2% increase in the Russell 2000 Index. Stock selection led the portfolio to outperform in the quarter, partially offset by sector exposure. In addition, you can check the top 5 holdings of the fund to know its best picks in 2024.
The London Company Small Cap Strategy featured stocks like Masonite International Corporation (NYSE:DOOR) in the first quarter 2024 investor letter. Headquartered in Tampa, Florida, Masonite International Corporation (NYSE:DOOR) designs, manufactures, markets, and distributes interior and exterior doors. On May 3, 2024, Masonite International Corporation (NYSE:DOOR) stock closed at $132.70 per share. One-month return of Masonite International Corporation (NYSE:DOOR) was 1.39%, and its shares gained 42.83% of their value over the last 52 weeks. Masonite International Corporation (NYSE:DOOR) has a market capitalization of $2.917 billion.
The London Company Small Cap Strategy stated the following regarding Masonite International Corporation (NYSE:DOOR) in its first quarter 2024 investor letter:
“Masonite International Corporation (NYSE:DOOR) – DOOR was up 55% in 1Q after receiving a buyout offer from Owens Corning for $133 per share. Earlier in the quarter, DOOR had tried to acquire PGT Innovations, a deal that that we thought would have put too much leverage on the company, so we were quite happy to have Owens Corning acquire DOOR.”
A close up of a crew constructing a residential door, symbolising the company’s attention to detail.
Masonite International Corporation (NYSE:DOOR) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 32 hedge fund portfolios held Masonite International Corporation (NYSE:DOOR) at the end of the fourth quarter which was 42 in the previous quarter.
We previously discussed Masonite International Corporation (NYSE:DOOR) in another article, where we shared The London Company Small Cap Strategy’s views on the company. 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.