Peter Schliemann‘s Rutabaga Capital Management recently released its Form 13F for the second quarter of 2014. The fund disclosed an equity profile worth slightly over $1 billion, with 42.4% of its focus allocated to industrials and the rest spread across a variety of different sectors of the economy. Let’s take a look at some of Schliemann’s favorite stock picks for the quarter.
At the front of Schliemann’s list is Douglas Dynamics Inc (NYSE:PLOW), a $420.47 million market cap company that is engaged in the design, manufacturing and sale of snow and ice control equipment for light trucks. Rutabaga showed almost no change in its investments with Douglas Dynamics Inc (NYSE:PLOW) last quarter, and currently holds 2.19 million shares worth approximately $38.7 million, making up 3.67% of the funds overall portfolio.
Another large hedge fund shareholder in the company is Jim Simons‘ Renaissance Technologies, which –however- reduced its exposure to Douglas Dynamics Inc (NYSE:PLOW) by 33% over the last quarter, now holding 97,443 shares ,with a market value of about $1.72 million. Moreover, Chuck Royce‘s Royce & Associates fund maintained its position with the company last quarter, holding 50,000 shares worth nearly $881,000.
Next up on the fund’s list is NCI Building Systems Inc (NYSE:NCS), a $1.38 billion market cap manufacturer and marketer of metal products for the non-residential construction industry. The fund increased its exposure to this company by 7% last quarter, and now holds 1.49 million shares, worth $29 million. This has made NCI Building Systems Inc (NYSE:NCS) rise from its previous position, to the second spot on the list last quarter.
Chuck Royce is also betting on NCI Building Systems Inc (NYSE:NCS). Royce & Associates boosted its exposure by 5% last quarter, and now owns 1.99 million shares, worth nearly $39 million.
Finally, coming in at third on the list, is Central Garden & Pet Co (NASDAQ:CENTA). This $457.36 million market cap marketer and producer of branded products fell from the second spot on this list last quarter, as the fund lowered its holdings at the company by 11% over the period. The fund now owns 3.08 million shares of Central Garden & Pet Co (NASDAQ:CENTA), worth approximately $28.4 million.
Yet again, Chuck Royce is following suit. Royce & Associate also lowered its exposure to Central Garden & Pet Co (NASDAQ:CENTA) last quarter, by 28%, and now has 285,000 shares worth, about $2.6 million.
Disclosure: Javier Hasse holds no position in any stocks or funds mentioned