Global Capital Goods Potentially Undervalued Companies

Nordex

Market Cap: €3.6b

Develops, manufactures, and distributes multi-megawatt onshore wind turbines worldwide.

Bidvest Group

Market Cap: €74.0b

An investment holding company, engages in services, trading, and distribution businesses in South Africa and internationally.

Astra International

Market Cap: €190.7t

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

Hammond Power Solutions

Market Cap: €922.4m

Engages in the design, manufacture, and sale of various transformers in Canada, the United States, Mexico, and India.

Orion Group Holdings

Market Cap: US$224.2m

Operates as a specialty construction company in the infrastructure, industrial, and building sectors in the United States, Alaska, Hawaii, Canada, and the Caribbean Basin.

Luceco

Market Cap: €178.4m

Manufactures and distributes wiring accessories, LED lighting, and portable power products in the United Kingdom, the Americas, Europe, the Middle East, Africa, the Asia Pacific.

QinetiQ Group

Market Cap: €2.1b

Operates as a science and engineering company in the defense, security, and infrastructure markets in the United Kingdom, the United States, Australia, and internationally.

Alta Equipment Group

Market Cap: US$141.0m

Owns and operates integrated equipment dealership platforms in the United States and Canada.

Kalmar Oyj

Market Cap: €1.6b

Engages in the provision of heavy material handling equipment and automated terminal solutions for ports, terminals, distribution centers, and heavy industry.

Sandvik

Market Cap: SEK 229.2b

An engineering company, provides products and solutions for mining and rock excavation, metal cutting, and materials technology worldwide.

Morgan Advanced Materials

Market Cap: €506.9m

Manufactures and sells various carbon and ceramic products in the United Kingdom.

Stabilus

Market Cap: €545.9m

Manufactures and sells gas springs, dampers, electromechanical damper opening systems, vibration isolation products, and industrial components in Europe, the Middle East, Africa, North and South America, the Asia-Pacific, and internationally.

Keppel

Market Cap: €10.7b

An investment holding company, engages in the infrastructure, real estate, and connectivity business.

DEME Group

Market Cap: €3.4b

Provides marine solutions in the fields of offshore energy, dredging, marine infrastructure, and environmental works in Belgium, Europe, Africa, the United States, Asia, Oceania, and the Middle East.

Maire

Market Cap: €2.5b

MAIRE S.p.A. develops and implements various solutions to enable the energy transition.

Tennant

Market Cap: US$1.3b

Designs, manufactures, and markets floor cleaning equipment in the Americas, Europe, the Middle East, Africa, and the Asia Pacific.

Senior

Market Cap: UK£496.6m

Designs, manufactures, and sells high-technology components and systems for the original equipment manufacturers in the aerospace, defense, land vehicle, and power and energy markets in North America, the United Kingdom, South Africa, India, China, and internationally.

Eolus Vind

Market Cap: SEK 1.2b

Primarily engages in the development, construction, and operation of renewable energy assets in Sweden, Norway, Finland, the United States, Poland, Spain, and the Baltic states.

MTU Aero Engines

Market Cap: €14.5b

Engages in the development, manufacture, marketing, and maintenance of commercial and military aircraft engines, and aero-derivative industrial gas turbines in Germany, other European countries, North America, Asia, and internationally.

Eolus Vind

Market Cap: €1.2b

Primarily engages in the development, construction, and operation of renewable energy assets in Sweden, Norway, Finland, the United States, Poland, Spain, and the Baltic states.

Nilfisk Holding

Market Cap: €2.1b

Develops, manufactures, and sells cleaning solutions and services worldwide.

AB Volvo

Market Cap: US$491.7b

Manufactures and sells trucks, buses, construction equipment, and marine and industrial engines in Europe, the United States, Asia, Africa, and Oceania.

IMI

Market Cap: UK£4.2b

An engineering company, engages in the design, manufacturing, and servicing of engineering products in the United Kingdom, Germany, rest of Europe, the United States, rest of the Americas, China, rest of the Asia Pacific, the Middle East, and Africa.

Timken

Market Cap: €4.3b

Designs, manufactures, and sells engineered bearings and industrial motion products, and related services in the United States and internationally.

Ag Growth International

Market Cap: CA$589.2m

Manufactures and distributes equipment for bulk agriculture commodities worldwide.

Bombardier

Market Cap: US$8.0b

Engages in the design, manufacture, and sale of business aircraft and aircraft structural components worldwide.

Morgan Advanced Materials

Market Cap: UK£506.9m

Manufactures and sells various carbon and ceramic products in the United Kingdom.

Comer Industries

Market Cap: €753.6m

Designs and produces engineering systems and mechatronic solutions for power transmission applications in Italy and internationally.

Flowserve

Market Cap: US$5.6b

Designs, manufactures, distributes, and services industrial flow management equipment in the United States, Canada, Mexico, Europe, the Middle East, Africa, and the Asia Pacific.

Finning International

Market Cap: US$5.1b

Sells, services, and rents heavy equipment, engines, and related products in Canada, Chile, the United Kingdom, Argentina, and internationally.

NGK Insulators

Market Cap: JP¥489.2b

Manufactures and sells electric power related equipment in Japan, North America, Europe, Asia, and others.

Ningbo Sanxing Medical ElectricLtd

Market Cap: CN¥37.7b

Manufactures and sells power distribution and utilization systems in China and internationally.

Dover

Market Cap: US$22.2b

Provides equipment and components, consumable supplies, aftermarket parts, software and digital solutions, and support services worldwide.

Capacit'e Infraprojects

Market Cap: ₹30.5b

Engages in the engineering, procurement, and construction business in India.

Goldwind Science&Technology

Market Cap: CN¥30.9b

Provides wind power solutions in China and internationally.

WESCO International

Market Cap: US$7.2b

Provides business-to-business distribution, logistics services, and supply chain solutions in the United States, Canada, and internationally.