Here’s Why Sensata Technologies Holding plc (ST) Declined in Q2
Diamond Hill Capital, an investment management company, released its “Mid Cap Strategy” second-quarter 2023 investor letter. A copy of the same can be downloaded here. The portfolio delivered positive results in the second quarter while modestly trailing the Russell Midcap Index. The healthcare holdings positively contributed to the relative performance while the information technology and materials holdings trailed benchmark peers. The fund returned 6.76% (net) in Q2 compared to 9.10% for the benchmark. In addition, you can check the top 5 holdings of the strategy to know its best picks in 2023.
Diamond Hill Capital Mid Cap Strategy highlighted stocks like Sensata Technologies Holding plc (NYSE:ST) in the second quarter 2023 investor letter. Headquartered in Attleboro, Massachusetts, Sensata Technologies Holding plc (NYSE:ST) is an industrial technology company that manufactures and sells sensors and sensor-rich solutions, electrical protection components and systems, and other products. On September 7, 2023, Sensata Technologies Holding plc (NYSE:ST) stock closed at $36.84 per share. One-month return of Sensata Technologies Holding plc (NYSE:ST) was -6.07%, and its shares lost 12.12% of their value over the last 52 weeks. Sensata Technologies Holding plc (NYSE:ST) has a market capitalization of $5.633 billion.
Diamond Hill Capital Mid Cap Strategy made the following comment about Sensata Technologies Holding plc (NYSE:ST) in its Q2 2023 investor letter:
"Other bottom contributors included Ciena, Sensata Technologies Holding plc (NYSE:ST) and Post Holdings. Shares of automotive component manufacturer Sensata were pressured in Q2 as its progress toward pivoting its business toward higher-growth businesses like electric vehicles and electrification infrastructure slowed, weighing on revenue growth and margins."
Sensata Technologies Holding plc (NYSE:ST) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 32 hedge fund portfolios held Sensata Technologies Holding plc (NYSE:ST) at the end of second quarter which was 23 in the previous quarter.
We discussed Sensata Technologies Holding plc (NYSE:ST) in another article and shared The London Company SMID Cap Strategy's views on the company. In addition, please check out our hedge fund investor letters Q2 2023 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.
