In this article, we discuss the top 10 stock picks of Minerva Advisors.
Minerva Advisors is a hedge fund situated in Bala Cynwyd, Pennsylvania, and manages one private fund with a current portfolio value of around $154 million. In their SEC 13F filings for the first quarter of 2022, Minerva Advisors reported 65 stock positions in their portfolio and a 54.76% concentration of top 10 holdings. Great Lakes Dredge & Dock Corp. (NASDAQ:GLDD) is Minerva Advisors’ largest investment, with 979,540 shares.
Minerva Advisors invests primarily in industrial companies and in the information technology industry, as well as in media services and engineered solutions. These include Computer Task Group, Incorporated (NASDAQ:CTG), The E.W. Scripps Company (NASDAQ:SSP), and Chase Corporation (NYSE:CCF).
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Our Methodology
We picked the top 10 stocks from Minerva’s first quarter portfolio.
Top 10 Stock Picks of Minerva Advisors
10. Saga Communications, Inc. (NYSE:SGA)
Minerva Advisors’ Stake Value: $4,708,000
Percentage of Minerva Advisors’ 13F Portfolio: 3.04%
Number of Hedge Fund Holders: 4
Saga Communications, Inc. (NYSE:SGA), a broadcast company, acquires, develops, and operates broadcast properties in the United States. The company’s radio stations employ various programming formats, including classic hits, adult hits, top 40, country, country legends, mainstream/hot/soft adult contemporary, pure oldies, classic rock, and news/talk.
Saga Communications, Inc. (NYSE:SGA) currently has an estimated market value of $143 million. Saga Communications, Inc. (NYSE:SGA) saw a 13.1% rise in net sales to $108.3 million for the fiscal year ended December 31, 2021, compared to $95.8 million for the same period the previous year.
According to Insider Monkey’s data, 4 hedge funds were bullish on Saga Communications, Inc. (NYSE:SGA) at the end of Q1 2022, with collective stakes worth about $11 million. Minerva Advisors is the leading stakeholder of the company, with 206,671 shares worth $4.7 million.
9. Escalade, Incorporated (NASDAQ:ESCA)
Minerva Advisors’ Stake Value: $5,320,000
Percentage of Minerva Advisors’ 13F Portfolio: 3.44%
Number of Hedge Fund Holders: 4
Escalade, Incorporated (NASDAQ:ESCA) and its subsidiaries produce, distribute, import, and sell athletic items in North America, Europe, and abroad. Basketball goals, archery, indoor and outdoor gaming entertainment, and fitness equipment are among the sporting goods brands offered by the corporation. Minerva Advisors own 405,186 shares of Escalade, Incorporated (NASDAQ:ESCA) as of Q1 2022, worth $5.3 million, representing 3.44% of the total 13F holdings.
Escalade, Incorporated’s (NASDAQ:ESCA) revenue grew from $177.3 million in 2017 to $313.6 million in 2021. It is important to note that the majority of this rise occurred after the end FY 2019. Sales increased by 51.6% between 2019 and 2020, going from $180.5 million to $273.6 million. The firm also has a dividend yield of 4.73% and pays an annual dividend of $0.60 per share.
8. Pathfinder Bancorp, Inc. (NASDAQ:PBHC)
Minerva Advisors’ Stake Value: $5,366,000
Percentage of Minerva Advisors’ 13F Portfolio: 3.47%
Number of Hedge Fund Holders: 2
Pathfinder Bancorp, Inc. (NASDAQ:PBHC) serves as a holding company for Pathfinder Bank, which offers a variety of banking and financial products and services primarily in the counties of Oswego and Onondaga in New York. Checking, savings, and money market deposit accounts, as well as certificates of deposit, demand, and time deposits are all accepted by the firm.
For its future aims, Pathfinder Bancorp, Inc. (NASDAQ:PBHC) expects to open a new branch in the Southwest Corridor of the City of Syracuse. The total revenue for the first quarter of 2022 for Pathfinder Bancorp, Inc. (NASDAQ:PBHC) increased by 6.4% to $11.1 million.
According to Insider Monkey’s data, 2 hedge funds were bullish on Pathfinder Bancorp, Inc. (NASDAQ:PBHC) at the end of Q1 2022, with a total holding worth around $7.5 million. Minerva Advisors is the company’s largest shareholder, owning 251,649 shares worth $5.3 million.
7. Universal Stainless & Alloy Products, Inc. (NASDAQ:USAP)
Minerva Advisors’ Stake Value: $6,123,000
Percentage of Minerva Advisors’ 13F Portfolio: 3.96%
Number of Hedge Fund Holders: 7
Universal Stainless & Alloy Products, Inc. (NASDAQ:USAP) manufactures and markets semi-finished and completed specialty steel products in the United States and globally through its subsidiaries. Stainless steel, nickel alloys, tool steel, and several other alloyed sheets of steel are among its offerings. Minerva Advisors own 405,186 shares of Universal Stainless & Alloy Products, Inc. (NASDAQ:USAP) worth $6.1 million as of Q1 2022, accounting for 3.96% of the entire 13F holdings.
In its press release for the first quarter of 2022 results, Universal Stainless & Alloy Products, Inc. (NASDAQ:USAP) reported net sales of $47.6 million, up 10% from $43.2 million in the fourth quarter of 2021 and 28.4% higher than net sales of $37.0 million in the first quarter of 2021.
Dennis Oates, President, and CEO of Universal Stainless & Alloy Products, Inc. (NASDAQ:USAP), remarked that returning to the firm’s profitability goals will be their top focus in due course. Despite ongoing difficulties, he added, they had a remarkable backlog of orders, strong bookings, and rebounding markets as they started the second quarter of 2022.
6. The Eastern Company (NASDAQ:EML)
Minerva Advisors’ Stake Value: $7,796,00
Percentage of Minerva Advisors’ 13F Portfolio: 5.04%
Number of Hedge Fund Holders: 7
The Eastern Company (NASDAQ:EML) develops, manufactures, and distributes designed solutions to industrial customers in the United States and across the world. It provides comprehensive returnable packaging solutions for automobile, airplane, and durable goods assembly, as well as the manufacturing of plastic packaging products, packaged consumer goods, and medicines.
The Eastern Company (NASDAQ:EML) recently announced that it has sold its Frazer & Jones foundry business. August Vlak, The Eastern Company’s (NASDAQ:EML) President & CEO, said that the divestment of Frazer & Jones is a part of the company’s continuous efforts to consolidate its portfolio of companies and increase scale in its major operations, both of which are expected to boost operating margins and speed up the company’s development.
Among the hedge funds tracked by Insider Monkey, 7 funds were bullish on The Eastern Company (NASDAQ:EML) at the end of Q1 2022. James Mitarotonda’s Barington Capital Group is the leading stakeholder of the company, with approximately 627,768 shares worth $14.6 million.
5. InfuSystem Holdings Inc. (NYSE:INFU)
Minerva Advisors’ Stake Value: $8,294,000
Percentage of Minerva Advisors’ 13F Portfolio: 5.37%
Number of Hedge Fund Holders: 10
InfuSystem Holdings Inc. (NYSE:INFU), via its subsidiaries, provides infusion pumps and related goods and services in the United States and Canada. The firm works in two segments: Integrated Therapy Services (ITS) and Durable Medical Equipment Services (DME) (DME Services). It provides electronic ambulatory infusion pumps and related disposable supply kits to oncology, infusion, and hospital outpatient chemotherapy clinics for the treatment of various diseases, including colorectal cancer, pain management, and other disease conditions.
4. Chase Corporation (NYSE:CCF)
Minerva Advisors’ Stake Value: $10,451,000
Percentage of Minerva Advisors’ 13F Portfolio: 6.67%
Number of Hedge Fund Holders: 11
Chase Corporation (NYSE:CCF) is a specialty chemicals firm that makes and distributes protective products for a variety of uses all over the world. It works in three divisions: Adhesives, Sealants, and Additives, Industrial Tapes, Corrosion Protection, and Waterproofing.
Chase Corporation’s (NYSE:CCF) total revenue for the second quarter of 2022 grew 8% to $74 million, compared to the second quarter of 2021. Chase Corporation’s (NYSE:CCF) also ended the second quarter of FY 2022 with a cash balance of $116.0 million and a fully available $200 million revolving credit facility, following the biggest ever dividend distribution of $9.5 million in the second quarter.
CNN’s analysts consensus have a ‘Buy’ rating for Chase Corporation (NYSE:CCF) with a price target of $27. This rating has held steady and constant since November 2021.
3. The E.W. Scripps Company (NYSE:SSP)
Minerva Advisors’ Stake Value: $10,886,000
Percentage of Minerva Advisors’ 13F Portfolio: 7.03%
Number of Hedge Fund Holders: 12
The E.W. Scripps Company (NYSE:SSP) and its subsidiaries operate as a media company with a portfolio of local and national media brands. Local Media, Scripps Network, and Other are the business sectors of the corporation. Local Media is responsible for broadcast television stations that create news, information, and entertainment programming, as well as related digital activities.
The E.W. Scripps Company (NYSE:SSP) generated $566 million in overall revenue and $115 million in segment profit in the first quarter of 2022.
2. Computer Task Group, Incorporated (NASDAQ:CTG)
Minerva Advisors’ Stake Value: $11,900,000
Percentage of Minerva Advisors’ 13F Portfolio: 7.7%
Number of Hedge Fund Holders: 7
Computer Task Group, Incorporated (NASDAQ:CTG) and its subsidiaries provide information and technology services throughout North America, South America, Western Europe, and India. It operates in three segments: North America IT Solutions and Services, Europe IT Solutions and Services, and Non-Strategic Technology Services.
Computer Task Group, Incorporated’s (NASDAQ:CTG) recent press release reported North America IT Solutions and Services increased by 10.7%, offsetting a $6.2 million revenue drop from a deliberate reduction in Non-Strategic Technology Services and a $3.1 million effect from foreign currency exchange headwinds.
1. Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD)
Minerva Advisors’ Stake Value: $13,714,000
Percentage of Minerva Advisors’ 13F Portfolio: 8.88%
Number of Hedge Fund Holders: 12
Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD) offers dredging services in the United States. The firm specializes in capital dredging, which includes port development projects, coastal restoration, and land reclamation, trench digging for pipelines, tunnels, and cables, and other dredging linked to the building of breakwaters, jetties, canals, and other maritime infrastructure.
For its first quarter of 2022, Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD) reported a total of $194.3 million in revenue, a $16.7 million increase over the first quarter of 2021.
For more stock selections you can visit Top 5 Marijuana Stocks to Invest In Right Now and 5 Stock Picks from Andrew Immerman and Jeremy Schiffman’s Palestra Capital Management.
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Disclosure: None. Top 10 Stock Picks of Minerva Advisors is originally published on Insider Monkey.
