NEW YORK (TheStreet) -- Shares of Cedar Fair (FUN) have drifted down more than 2% in the past half year even as oil prices remained depressed and employment rose. Tom Reynolds, portfolio manager for the Perkins Small Cap Value Fund (JSCVX) , said shareholders in the amusement park operator will soon be having fun again.
"With lower gas prices and continued employment gains and a lower U6 rate and all that, we expect the next 12 months to look pretty good for Cedar Fair as families get out and participate more at the parks," said Reynolds.
The Perkins Small Cap Value Fund has fallen 2.7% so far this year, according to fund-tracker Morningstar. The $1.5 billion fund sports a trailing 12-month yield of 72 basis points.
Reynolds is also bullish on shares of Simpson Manufacturing (SSD) , up over 2% year-to-date, calling it a "classic Perkins company" because of its $248 million cash stockpile and lack of debt. Simpson also pays a dividend of 1.8%.
"The balance sheet is fantastic. It is directly related to residential construction in the U.S., and through the housing crisis did not cut its dividend," said Reynolds, adding that it is a "nice, stable way" to take advantage of the recovery in housing.
Shares of Encore Wire (WIRE) are down almost 2% thus far in 2015, despite the drop in copper prices. Reynolds said the company is a smart nonresidential construction play and the impact of copper pricing on the company's stock is overblown.
"Stable copper prices are best because they can maximize the spread, but there is a perception that it's bad for them when copper prices fall, but it's just not true," said Reynolds. "Book value has compounded at 10% over the past decade even as copper prices have been cut in half."
Finally, Reynolds is positive on Bank of Hawaii (BOH) , which has seen its stock rise 6.5% thus far this year. The bank sports a dividend of 2.8% and also benefits from what Reynolds jokingly calls a very "wide moat."
"It's got 32% of the deposits in Hawaii, and if we ever get into an environment where interest rates are higher they have significant leverage," said Reynolds.Must Read: 7 Stocks Warren Buffett Is Buying in 2015