Is The Valspar Corporation (NYSE:VAL) a good bet right now? We like to analyze hedge fund sentiment before doing days of in-depth research. We do so because hedge funds and other elite investors have numerous Ivy league graduates, expert network advisers, and supply chain tipsters working or consulting for them. There is not a shortage of news stories covering failed hedge fund investments (for some reason media paid a ton of attention to Ackman’s gigantic JC Penney and Valeant failures) and it is a fact that hedge funds’ picks don’t beat the market 100% of the time, but their consensus picks have historically done very well and have outperformed the market after adjusting for risk.
The Valspar Corporation shares haven’t seen a lot of action during the third quarter. Overall, hedge fund sentiment was unchanged. The stock was in 19 hedge funds’ portfolios at the end of September. The level and the change in hedge fund popularity aren’t the only variables you need to analyze to decipher hedge funds’ perspectives. A stock may witness a boost in popularity but it may still be less popular than similarly priced stocks. That’s why at the end of this article we will examine companies such as HD Supply Holdings Inc (NASDAQ:HDS), Carlisle Companies, Inc. (NYSE:CSL), and Marine Harvest ASA (NYSE:MHG) to gather more data points.
With all of this in mind, let’s go over the fresh action encompassing The Valspar Corporation (NYSE:VAL).
How are hedge funds trading The Valspar Corporation (NYSE:VAL)?
According to publicly available hedge fund and institutional investor holdings data compiled by Insider Monkey, Iridian Asset Management, managed by David Cohen and Harold Levy, holds the biggest position in The Valspar Corporation (NYSE:VAL). Iridian Asset Management has a $330.1 million position in the stock, comprising 2.8% of its 13F portfolio. The second most bullish fund manager is Mark Wolfson and Jamie Alexander of Jasper Ridge Partners, with a $52.8 million position; the fund has 3.9% of its 13F portfolio invested in the stock. Other professional money managers that are bullish contain Steve Cohen’s Point72 Asset Management, D. E. Shaw’s D E Shaw and Jonathan Barrett and Paul Segal’s Luminus Management.