Global Capital Goods Undervalued Dividend Payers

Siemens

Market Cap: €171.6b

A technology company, focuses in the areas of automation and digitalization in Europe, Commonwealth of Independent States, Africa, the Middle East, the Americas, Asia, and Australia.

PACCAR

Market Cap: US$63.3b

Designs, manufactures, and distributes light, medium, and heavy-duty commercial trucks in the United States, Canada, Australia, Mexico, Europe, Central and South America, and internationally.

Compagnie de Saint-Gobain

Market Cap: €36.1b

Designs, manufactures, and distributes materials and solutions for the construction and industrial markets worldwide.

Daimler Truck Holding

Market Cap: €30.4b

Manufactures and sells light, medium- and heavy-duty trucks and buses in Europe, North America, Asia, Latin America, and internationally.

Weichai Power

Market Cap: HK$258.8b

Engages in the automobile and equipment manufacturing industry in China and internationally.

CRRC

Market Cap: CN¥173.8b

CRRC Corporation Limited, with its subsidiaries, engages in the research and development, design, manufacture, refurbishment, sale, leasing, and technical servicing of railway locomotives in Mainland China and internationally.

Bouygues

Market Cap: €18.5b

Operates in the construction, energies and services, telecom, and media sectors in France and internationally.

Snap-on

Market Cap: US$19.3b

Manufactures and markets tools, equipment, diagnostics, and repair information and systems solutions for professional users worldwide.

HD Korea Shipbuilding & Offshore Engineering

Market Cap: ₩28.3t

HD Korea Shipbuilding & Offshore Engineering Co., Ltd.

Obayashi

Market Cap: JP¥2.6t

Engages in the construction business in Japan, North America, Asia and internationally.

Eiffage

Market Cap: €12.8b

Engages in the construction and concessions industries in France, rest of Europe, and internationally.

Astra International

Market Cap: Rp235.3t

Operates in the automotive, financial services, heavy equipment, mining, construction, energy, agri, infrastructure and logistics, information technology, and property businesses in Indonesia and internationally.

Sinotruk (Hong Kong)

Market Cap: HK$102.6b

An investment holding company, engages in the research, development, manufacture, and sale of heavy-duty trucks (HDT), medium-heavy duty trucks, light duty trucks (LDT), buses, and related parts and components in Mainland China and internationally.

Yangzijiang Shipbuilding (Holdings)

Market Cap: S$16.1b

An investment holding company, engages in the shipbuilding activities in the Greater China, Canada, Japan, Italy, Greece, Germany, Bulgaria, United Kingdom, Singapore, and internationally.

Skanska

Market Cap: SEK 105.5b

Operates as a construction and project development company in the Nordics, Europe, and the United States.

AB SKF

Market Cap: SEK 103.4b

Designs, manufactures, and sells bearings and units, seals, lubrication systems, condition monitoring, and services worldwide.

Jardine Cycle & Carriage

Market Cap: S$12.9b

An investment holding company, engages in providing the financial services, heavy equipment, mining, construction and energy, agribusiness, infrastructure and logistics, information technology, and property businesses in Indonesia, Singapore, and Malaysia.

A. O. Smith

Market Cap: US$9.8b

Manufactures and markets residential and commercial gas and electric water heaters, boilers, heat pumps, tanks, and water treatment products in North America, China, Europe, and India.

Bunzl

Market Cap: UK£7.2b

Operates as a distribution and services company in the North America, Continental Europe, the United Kingdom, Ireland, and internationally.

Trelleborg

Market Cap: SEK 79.3b

Provides engineered polymer solutions for seal, damp, and protect critical applications worldwide.

Konecranes

Market Cap: €7.1b

Manufactures, sells, and services material handling products in Europe, the Middle East, Africa, the Americas, and the Asia-Pacific.

China National Chemical Engineering

Market Cap: CN¥56.1b

China National Chemical Engineering Co., Ltd.

Andritz

Market Cap: €6.5b

Engages in the provision of industrial machinery, equipment, and services in Europe, North America, South America, China, Asia, Africa, Australia, and internationally.

Brenntag

Market Cap: €6.4b

Engages in the distribution of chemicals and ingredients in Germany, the United States, the United Kingdom, China, Canada, Italy, Poland, France, and internationally.

Sulzer

Market Cap: CHF 5.2b

Develops and sells products and services for fluid engineering and chemical processing applications worldwide.

Beijing New Building Materials

Market Cap: CN¥46.1b

Manufactures and sells building materials in China and internationally.

China State Construction International Holdings

Market Cap: HK$49.4b

An investment holding company, engages in the construction business for private and public sectors in Hong Kong, Mainland China, Macau, and internationally.

Howden Joinery Group

Market Cap: UK£4.5b

Supplies various kitchen, joinery, and hardware products in the United Kingdom, France, Belgium, and the Republic of Ireland.

SFS Group

Market Cap: CHF 4.6b

Supplies precision components and assemblies, mechanical fastening systems, tools, and procurement solutions in Switzerland and internationally.

Valmet Oyj

Market Cap: €4.9b

Develops and supplies process technologies, automation, and services for the pulp, paper, and energy industries in North America, Latin America, EMEA, China, and Asia-Pacific.

Maire

Market Cap: €4.4b

MAIRE S.p.A. engages in the provision of solutions in the field of green chemistry and energy transition technologies.

TECO Electric & Machinery

Market Cap: NT$161.1b

Manufactures, installs, wholesales, and retails electronic and telecommunications equipment, office equipment, and home appliances in Taiwan, the United States, China, and internationally.

Sanwa Holdings

Market Cap: JP¥795.1b

Through its subsidiaries, manufactures and sells construction materials for commercial and residential buildings in Japan, North America, Europe, and Asia.

DKSH Holding

Market Cap: CHF 3.8b

Provides various market expansion services in Thailand, Greater China, Malaysia, Singapore, rest of the Asia Pacific, and internationally.

Haitian International Holdings

Market Cap: HK$36.4b

An investment holding company, engages in the manufacture, distribution, and sale of plastic injection molding machines and related products in Mainland China, Hong Kong, and internationally.

Sany Renewable EnergyLtd

Market Cap: CN¥31.5b

Engages in the research and development, manufacture, and sale of wind turbines and generators in China.