Hedge Fund Manager Michael Blitzer’s Under-The-Radar Stock Picks

Next up is Aerojet Rocketdyne Holdings Inc (NYSE:GY), in which Kingstown Capital Management owned 3.20 million shares valued at $74.20 million. The company has signed a Space Act agreement with NASA Stennis Space Center, which covers a test service and test stand support for its AR1 multi-element engine that is currently in development, as well as the main injector. On completion, the AR1 engine is to be used to replace the Russian-made RD-180 engines that power the Atlas V launch vehicle. The engines should be ready for use in 2019 and are expected to end the U.S’ dependence on Russian-made engines. Mario Gabelli of GAMCO Investors holds 5.28 million shares of Aerojet Rocketdyne Holdings Inc (NYSE:GY) valued at $122.46 million.

Lastly is McDermott International (NYSE:MDR), in which the fund holds 4.0 million shares worth $59.36 million, the position being unchanged during the first quarter. A look at the stock’s performance shows that its value has increased by 134.96% over the past six months and by just under 100% this year. The company won its fourth Ayatsil field contract after being awarded an offshore contract by Petroleos Mexicanos (PEMEX). The contract entails the procurement, construction, installation, and commissioning of the Ayatsil-C replacement jacket. The latest contract comes on the successful completion of the Ayatsil-B drilling platform last year. Slated for completion in the fourth quarter of 2016, the facility will weigh approximately 14,800 tons. McDermott plans to use its in-house engineering and procurement experts for the project as it moves to provide PEMEX with a lower cost solution based on global quality and safety standards. PEMEX has already reiterated plans to develop the Ayatsil field with four platforms as it moves to drill 43 wells in the area. Youlia Miteva’s Proxima Capital Management holds 6.22 million shares worth $23.90 million in McDermott International (NYSE:MDR), also benefiting greatly from its superb 2015.

Disclosure: None