U.S. Capital Goods Potentially Undervalued Companies

Asia Pacific Wire & Cable

Market Cap: US$32.0m

Through its subsidiaries, manufactures and distributes enameled wire, power cable, and telecommunications products in Thailand, Singapore, Australia, the People’s Republic of China, Hong Kong, and the Asia Pacific region.

Ashtead Group

Market Cap: US$18.3b

Engages in the construction, industrial, and general equipment rental business under the Sunbelt Rentals brand name in the United States, the United Kingdom, and Canada.

OSG

Market Cap: US$133.0b

Manufactures and sells cutting tools in Japan, the Americas, Europe, Africa, and Asia.

Aida Engineering

Market Cap: US$53.3b

Manufactures and sells press machines, auto-processing lines, industrial robots, auto-conveyers, and dies in Japan, China, rest of Asia, the Americas, and Europe.

IES Holdings

Market Cap: US$4.9b

Designs and installs integrated electrical and technology systems, and provides infrastructure products and services in the United States.

MINEBEA MITSUMI

Market Cap: US$820.2b

Manufactures and supplies machined components, electronic devices and components, automotive, and industrial machinery and home security business in Japan and internationally.

OC Oerlikon

Market Cap: US$1.2b

Provides surface engineering, polymer processing, and additive manufacturing services in Europe, the Americas, and the Asia-Pacific.

Ryobi

Market Cap: US$67.5b

Operates as a die casting manufacturer in Japan, the United States, China, and internationally.

JE Cleantech Holdings

Market Cap: US$6.6m

An investment holding company, designs, develops, manufactures, and sells cleaning systems for various industrial end-use applications in Singapore, Malaysia, and internationally.

Flux Power Holdings

Market Cap: US$28.8m

Through its subsidiary, designs, develops, manufactures, and sells lithium-ion energy storage solutions in North America.

Distribution Solutions Group

Market Cap: US$1.2b

A specialty distribution company, provides value-added distribution solutions to the maintenance, repair and operations (MRO), original equipment manufacturer, and industrial technology markets.

CITIC Resources Holdings

Market Cap: US$2.7b

An investment holding company, engages in the exploration, development, and production of oil and coal in Mainland China, Australia, Europe, other Asian countries, and internationally.

SFC Energy

Market Cap: US$290.3m

Develops, produces, and distributes systems and solutions for stationary and mobile off-grid power supply based on hydrogen and direct methanol fuel cells worldwide.

Toda

Market Cap: US$275.0b

Primarily engages in the building construction and civil engineering businesses in Japan and internationally.

MIRAIT ONE

Market Cap: US$186.1b

Engages in the telecommunications construction, electrical construction, civil engineering work, and architectural and construction businesses in Japan.

Taisei

Market Cap: US$1.1t

Engages in the civil engineering, construction, and real estate development businesses in Japan.

Nippon Sheet Glass Company

Market Cap: US$32.6b

Engages in the manufacture and sale of glass and glazing products in Japan, Europe, North America, and South America.

DAIHEN

Market Cap: US$165.3b

Manufactures and sells transformers, welding machines, and industrial and clean transport robots.

Cirrus Aircraft

Market Cap: US$10.9b

Manufactures and sells piston aircraft and single-engine turbine jets worldwide.

Vesuvius

Market Cap: US$861.5m

Provides molten metal flow engineering and technology services to steel and foundry casting industries worldwide.

AmeraMex International

Market Cap: US$1.5m

Sells, leases, and rents new and refurbished heavy equipment to logistics companies, infrastructure construction, logging companies, US Military, and forestry conservation industries in the United States.

MasterBrand

Market Cap: US$1.2b

Engages in the manufacture and sale of residential cabinets in the United States and Canada.

INLIF

Market Cap: US$18.9m

Through its subsidiaries, engages in the research, development, manufacture, and sale of injection molding machine-dedicated manipulator arms under the iNLIF brand name in the People’s Republic of China.

Travis Perkins

Market Cap: US$1.3b

Engages in distribution of building material products in the United Kingdom.

Middleby

Market Cap: US$7.8b

Designs, manufactures, markets, distributes, and services commercial restaurant, food processing, and residential kitchen equipment worldwide.

Burnham Holdings

Market Cap: US$96.8m

Designs, manufactures, and sells boilers and related heating, ventilation, and air conditioning products and accessories for residential, commercial, and industrial applications in the United States, Canada, and Mexico.

Cadeler

Market Cap: US$17.5b

Engages in offshore wind farm installation, operations, and maintenance services in Denmark.

Hurco Companies

Market Cap: US$95.2m

An industrial technology company, designs, manufactures, and sells computerized machine tools to companies in the metal cutting industry worldwide.

Centuri Holdings

Market Cap: US$1.7b

Operates as a utility infrastructure services company in North America.

Triumph Group

Market Cap: US$2.0b

Designs, engineers, manufactures, repairs, overhauls, and distributes aircraft, aircraft components, accessories, subassemblies, and systems worldwide.

L.B. Foster

Market Cap: US$192.0m

Provides engineered and manufactured products and services for building and supporting infrastructure in the United States, Canada, the United Kingdom, and internationally.

Palfinger

Market Cap: US$1.0b

Produces and sells crane and lifting solutions in Austria and internationally.

Duratec

Market Cap: US$371.0m

Engages in the provision of assessment, protection, remediation, and refurbishment services to a range of assets, primarily steel and concrete infrastructure in Australia.

Emeco Holdings

Market Cap: US$383.3m

Provides surface and underground mining equipment rental, complementary equipment, and mining services in Australia.

Reliance Worldwide

Market Cap: US$3.4b

Engages in the design, manufacture, and supply of water flow, control, and monitoring products and solutions for plumbing and heating industries.

CITIC

Market Cap: US$290.3b

Operates in the financial services, advanced intelligent manufacturing, advanced materials, consumption, and urbanization businesses in the Mainland of China, Hong Kong, Macau, Taiwan, and internationally.