U.S. Capital Goods Potentially Undervalued Companies

Eiffage

Market Cap: US$11.5b

Engages in the construction, property development, urban development, civil engineering, metallic construction, roads, energy systems, and concessions businesses in France, rest of Europe, and internationally.

Shanghai Industrial Holdings

Market Cap: US$13.4b

An investment holding company, engages in the infrastructure and environmental protection, real estate, consumer products, and comprehensive healthcare operations businesses in Hong Kong, the People’s Republic of China, rest of Asia, and internationally.

Fugro

Market Cap: US$1.2b

Provides geo-data services for the infrastructure, energy, and water industries in Europe, Africa, the Americas, the Asia Pacific, the Middle East, and India.

Shanghai Industrial Holdings

Market Cap: US$13.4b

An investment holding company, engages in the infrastructure and environmental protection, real estate, consumer products, and comprehensive healthcare operations businesses in Hong Kong, the People’s Republic of China, rest of Asia, and internationally.

Traton

Market Cap: US$15.2b

Manufactures and sells commercial vehicles in Germany, rest of Europe, the United States of America, rest of North America, Brazil, rest of South America, and internationally.

Japan Pulp and Paper

Market Cap: US$73.4b

Engages in the manufacture, import, export, distribution, wholesale, and sale of papers, paperboards, pulp, and paper-related products in Japan, Europe, Asia, Oceania, North America, and internationally.

EnerSys

Market Cap: US$3.1b

Engages in the provision of stored energy solutions for industrial applications worldwide.

MTU Aero Engines

Market Cap: US$18.3b

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.

Carlisle Companies

Market Cap: US$16.7b

Operates as a manufacturer and supplier of building envelope products and solutions in the United States, Europe, North America, Asia and the Middle East, Africa, and internationally.

Optex Systems Holdings

Market Cap: US$57.1m

Manufactures and sells optical sighting systems and assemblies primarily for the U.S.

Siemens

Market Cap: US$165.7b

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.

ASSA ABLOY

Market Cap: US$332.3b

Provides door opening and access products for the institutional, commercial, and residential markets.

Fluor

Market Cap: US$6.8b

Provides engineering, procurement, and construction (EPC); fabrication and modularization; and project management services worldwide.

Ebara

Market Cap: US$1.1t

Manufactures and sells industrial machinery.

Ilustrato Pictures International

Market Cap: US$5.1m

Through its subsidiaries, operates in the public safety technology, engineering, industrial, and manufacturing sectors in New York, London, and Dubai.

Melrose Industries

Market Cap: US$5.7b

Designs and delivers aerospace components and systems for civil and defence markets in the United Kingdom, rest of Europe, North America, and internationally.

Daikin IndustriesLtd

Market Cap: US$4.6t

Manufactures, distributes, and sells air-conditioning and refrigeration equipment, and chemical products in Japan, the Americas, China, Asia, Europe, Europe, and internationally.

Ferguson Enterprises

Market Cap: US$35.4b

Distributes plumbing and heating products in the United States and Canada.

Kubota

Market Cap: US$1.8t

Manufactures and sells agricultural and construction machinery in Japan, North America, Europe, Asia, and internationally.

Astronics

Market Cap: US$1.1b

Through its subsidiaries, designs and manufactures products for the aerospace, defense, and electronics industries in the United States, rest of North America, Asia, Europe, South America, and internationally.

Cadre Holdings

Market Cap: US$1.3b

Manufactures and distributes safety equipment and other related products that provides protection to users in hazardous or life-threatening situations in the United States and internationally.

Paul Mueller

Market Cap: US$302.3m

Provides manufactured equipment and components in the United States, North America, Asia, the Far East, the Netherlands, EU countries, Europe, and internationally.

GMS

Market Cap: US$2.8b

Distributes wallboard, ceilings, steel framing and complementary construction products in the United States and Canada.

Chart Industries

Market Cap: US$7.1b

Engages in the designing, engineering, and manufacturing of process technologies and equipment for the gas and liquid molecules in the United States and internationally.

Masco

Market Cap: US$13.1b

Provides home improvement and building products in North America, Europe, and internationally.

Espey Mfg. & Electronics

Market Cap: US$98.6m

A power electronics design and original equipment manufacturing company, designs, manufactures, and tests electronic equipment primarily for use in military and industrial applications in the United States.

Signify

Market Cap: US$2.6b

Provides lighting products, systems, and services in Europe, the Americas, and internationally.

Jardine Cycle & Carriage

Market Cap: US$10.2b

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.

UFP Industries

Market Cap: US$5.8b

Designs, manufactures, and supplies wood and non-wood composites, and other materials in the United States and internationally.

Signify

Market Cap: US$2.6b

Provides lighting products, systems, and services in Europe, the Americas, and internationally.

RS Group

Market Cap: US$2.6b

Engages in the distribution of maintenance, repair, and operations products and service solutions in the United Kingdom, the United States, France, Germany, Italy, Mexico, and internationally.

Northrop Grumman

Market Cap: US$67.9b

Operates as an aerospace and defense technology company in the United States, the Asia/Pacific, Europe, and internationally.

GenusPlus Group

Market Cap: US$515.3m

Engages in the installation, construction, and maintenance of power and communication systems in Australia.

Barloworld

Market Cap: US$18.8b

Operates as an industrial processing, distribution, and services company in Southern Africa, the United Kingdom, Australia, Russia, and Mongolia.

NSK

Market Cap: US$312.4b

Manufactures and sells industrial machinery bearings, automotive products, and precision machinery and parts worldwide.

Noritsu Koki

Market Cap: US$114.5b

Manufactures and sells audio equipment and peripheral products in Japan, China, the United States, Europe, Central and South America, the Middle East, Africa, and internationally.