Carillon Tower Advisers, an investment management company, released its “Carillon Eagle Small Cap Growth Fund” second quarter 2024 investor letter. A copy of the letter can be downloaded here. Small-cap stocks were unable to sustain the positive gains made in the first quarter and finished the second quarter in negative territory. Among the style indexes, the Russell 2000® Growth Index outperformed the Russell 2000® Value Index by a modest margin, with a decrease of 2.92% compared to a decrease of 3.75%. In addition, please check the fund’s top five holdings to know its best picks in 2024.
Carillon Eagle Small Cap Growth Fund highlighted stocks like Quaker Chemical Corporation (NYSE:KWR), in the second quarter 2024 investor letter. Quaker Chemical Corporation (NYSE:KWR) offers industrial process fluids for steel, aluminum, automotive, aerospace, offshore, can, mining, and metalworking companies. The one-month return of Quaker Chemical Corporation (NYSE:KWR) was -8.94%, and its shares lost 5.24% of their value over the last 52 weeks. On August 28, 2024, Quaker Chemical Corporation (NYSE:KWR) stock closed at $165.34 per share with a market capitalization of $2.962 billion.
Carillon Eagle Small Cap Growth Fund stated the following regarding Quaker Chemical Corporation (NYSE:KWR) in its Q2 2024 investor letter:
“Quaker Chemical Corporation (NYSE:KWR) is a global provider of formulated industrial process fluids and related services, primarily for the metals and metal-working industries. Despite another strong quarter of execution on the operational front, the recent slowdown in metalworking-related end markets has placed pressure on the company’s shares. Quaker has made impressive internal strides to drive profitable growth and margin expansion, and we believe it remains in a strong position to capitalize on the eventual improvement in industry volumes.”
A close up view of a specialized chemical compound in the lab.
Quaker Chemical Corporation (NYSE:KWR) is not on our list of 31 Most Popular Stocks Among Hedge Funds. As per our database, 25 hedge fund portfolios held Quaker Chemical Corporation (NYSE:KWR) at the end of the second quarter which was 22 in the previous quarter. Quaker Chemical Corporation’s (NYSE:KWR) second-quarter net sales came in at $464 million, which was 1% less than the first quarter and 6% below the previous year. While we acknowledge the potential of Quaker Chemical Corporation (NYSE:KWR) as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is as promising as NVIDIA but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
In another article, we discussed Quaker Chemical Corporation (NYSE:KWR) and shared the list of best specialty chemical stocks to buy. In addition, please check out our hedge fund investor letters Q2 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.
