Getting Organized - Industrials
Many of these stocks have run 10%-20% in the two months since I last did this list. I will look again at ALK, CNH and WNC, but this sector less exciting.
I am happy to have 3 stocks here, Chart Industries, Titan international, and Middleby.
The industrials sectors has 628 stocks, and is 18% of mid-cap indices. so I have roughly a market weight.
The only sector left is consumer durables.
My top industrial names in order;
Alaska Air - ALK - $36 - young fleet, good balance sheet, will the Hawaiian Air deal proceed, I worry about Lina
CNH Industrials NV - CNH - $10 - Euro-based ag equipment maker, I need more courage
AGCO - AGCO - $91 - the #2 US farm equipment company
Wabash National - WNC - $19 - high quality truck trailers
Core & Main - CNM - $48 - water and sewer pipes, Select Equity idea
PACCAR - PCAR - $96 - has had a long run, not optimistic
JB Hunt - JBHT - $173 - truckers are starting to fade
Toro - TTC - $93 - riding mowers, off its high
Oshkosh - OSK - $93 - just for fun I added one war stock
Driven Brands - DRVN - $14 - franchisor of car washes and quick oil changes, not really an industrial. I hate the car wash business, but the rest is solid
GXO Logistics - GXO - $50 - warehouse spinoff of XPO
Jacobs Solutions - J - $150 - large builder of infrastructure, not sure about the new CFO, but a great way to play energy transition
Lindsay Mfg. - LNN - $124 - irrigation equipment maker with issues in Brazil, my other ag ideas are better
Astec Ind. - ASTE - $34 - road building equipment, infrastructure play
Energy Recovery - ERII - $16 - great tech for desalinization, but not sure about commercial refrigeration yet
CH Robinson - CHRW - $103 - well managed truck broker, I sat with XPO guys and had this whole complex industry explained to me, there is plenty of consolidation still to come.
Douglas Dynamics - PLOW - $28 - commercial snow plows, warm winter last year
John Bean Technologies - JBT - $90 - food equipment, smart guys
Trinity Industries - TRN - $33 - love the railcars, hate the leasing business
Columbus McKinnon - CMCO - $34 - winches, no not wenches, well run company
Matthews International - MATW - $25 - gravestones with an EV kicker
Heidrick & Struggles - HSII - $39 - well run top executive recruiter
Matrix Services - MTRX - $10 - we need to repair our refineries
Hillenbrand - HI - $33 - they spun out the casket business
Liquidity Services - LQDT - $22 - unique reseller of capital equipment
Ameresco - AMRC - $30 - renewable energy builder
Great Lakes Dredge & Dock - GLDD - $10 - infrastructure
Gorman-Rupp - GRC - $40 - Big water valves, small cap gem
MasterBrand - MBC - $16 - cabinet maker, spinoff, could be cheaper
Vestas Wind - VWDRY - $8 - Euro windmill maker, tricky, Biden stock
NuScale Power - SMR - $8 - Small modular reactors, having issues
Quest Resource - QRHC - $9 - Picking up commercial/industrial waste. I have met these guys and remain on the fence. There are accounting issues to understand.
Norfolk Southern - NSC - $256 - Reasonable restructuring is underway, has run
Xylem - XYL - $138 - Water is cool, but we need the stock under $100
Albany Inter. - AIN - $94 - How much will the paper companies spend?
Masco - MAS - $80 - I am still cautious on building related stocks, but these guys are well run
Kirby - KEX - $120 - The search is on to find the next Kirby, this one has run too much