Five Cheap Industrial Stocks that Captured Smart Money’s Attention

Among the funds in our database, 15 amassed $68.51 million worth of Casella Waste Systems Inc. (NASDAQ:CWST) shares at the end of June compared to 13 funds and $61.87 million, respectively, a quarter earlier. The stock has had a strong run so far this year, registering gains of over 74% and recently topping the $10 mark and is currently trading close to its 52-week high of $10.71. The stock gained over 10% on September 26, following news that Casella Waste Systems Inc. (NASDAQ:CWST) plans to refinance its debt with a $150 million revolving credit facility and a $350 million term loan B. The company plans to use the proceeds to pay off its asset-backed lending facility and senior subordinated notes. In addition, following a strong pricing and operational performance in the first months of the third quarter, the company boosted its full fiscal 2016 EBITDA guidance to $115-$117 million from the previous $111-$115 million range.

Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD) had 10 funds from our database holding $18.66 million worth of shares in aggregate at the end of the second quarter. However, while the number of funds long the stock increased by two over the quarter, the value of their positions slid from $21.60 million. The stock had appreciated by 10% in the first six months of 2016, but consecutively gave up the gains and is 12% in the red year-to-date. One of the main reasons for the decline were the lower-than-expected results reported by Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD) for the second quarter. The company’s loss of $0.03 per share, missed the consensus estimate by $0.04, while its revenue of $192.2 million declined by 19.5% on the year and was $29.93 million below expectations.

In American Superconductor Corporation (NASDAQ:AMSC), the number of investors holding shares inched up by one to nine and the value of their holdings appreciated to $5.70 million from $4.19 million during the second quarter. Shares of American Superconductor Corporation are 9.30% in the green since the beginning of the year, even though the company had posted better-than-expected financial results for the fiscal third and fourth quarters. However, for the fiscal 2016 first quarter (ended June 30), the company reported a loss of $0.64 per share, beating the estimates of a loss of $0.92 per share, but its revenue of $13.35 million was lower than the expected $13.31 million and declined by 43.7% on the year.

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