Quantitative Equity Analyst, DMA

Charlotte van Tiddens, CFA

Quantitative Equity Analyst

Technology-First Company

DMA is a technology-first company that provides an end-to-end SaaS solution to institutional investors. DMA enables regulated entities like asset managers, wealth managers, investment managers and financial advisors to connect their front and back office, break silos and reduce headcount.

Quantitative Analysis

<ul>
<li>Short duration US factor strategies outperformed in September as markets came under pressure (value and dividend yield).</li>
<li>Despite keeping rates unchanged on the 20th of September at 5.5% (upper bound), Fed Chair Powell indicated that rates would be kept higher for longer than initially anticipated.</li>
<li>In this note we explore the relative performance of US factor strategies through different interest rate cycles, to inform timing around factor/style rotation.</li>
</ul>


Short duration US factor strategies outperformed in September as markets came under pressure (value and dividend yield).
Despite keeping rates unchanged on the 20th of September at 5.5% (upper bound), Fed Chair Powell indicated that rates would be kept higher for longer than initially anticipated.
In this note we explore the relative performance of US factor strategies through different interest rate cycles, to inform timing around factor/style rotation.


US Factor Strategies: Value and Dividend Yield Outperform in September, Higher for Longer Narrative

Founder at Stock Spin-off Investing, Stock Spin-Off Investing

Richard Howe

Founder at Stock Spin-off Investing

Stock Spin-Off Investing

Generate attractive returns by taking advantage of inefficiencies in the stock spin-off market.

Stock Spin-offs

Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/holcim-ltd-7f60ceaa-51af-4f85-ac5f-114595eb04f3" target="_blank" data-smartkarma-citation="entities:27916" rel="noopener">Holcim (HOLN SW)</a> spun off its construction materials and solutions business into a standalone company on Friday, June 20th.</li>
<li>The new company is called <a href="https://www.smartkarma.com/entities/amrize-ltd" target="_blank" data-smartkarma-citation="entities:45209" rel="noopener">Amrize (AMRZ US)</a>. </li>
<li>The first day of trading will be Monday, June 23, 2025.</li>
</ul>



Holcim (HOLN SW) spun off its construction materials and solutions business into a standalone company on Friday, June 20th.
The new company is called Amrize (AMRZ US). 
The first day of trading will be Monday, June 23, 2025.


Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Equity Bottom-Up

<ul><li>Emerson Electric Co. has presented its third quarter 2024 earnings, demonstrating a strong operational and financial performance amidst a challenging global economic environment.</li><li>The company reported solid results with underlying sales growth of 3%, driven by robust project activity in process and hybrid businesses.</li><li>Life sciences, energy, and power sectors particularly showed significant project wins, emphasizing Emerson’s traction in North America and Europe.</li></ul>

Emerson Electric Co. has presented its third quarter 2024 earnings, demonstrating a strong operational and financial performance amidst a challenging global economic environment.The company reported solid results with underlying sales growth of 3%, driven by robust project activity in process and hybrid businesses.Life sciences, energy, and power sectors particularly showed significant project wins, emphasizing Emerson’s traction in North America and Europe.

Emerson Electric Co.: A Story Of Deepening Market Penetration in Test & Measurement! - Major Drivers

<ul><li>Emerson Electric reported a robust operating performance for the second quarter of 2024, surpassing their expectations.</li><li>The buoyant operating performance was driven by strong demand in process and hybrid markets, which aligns with significant macroeconomic trends like energy affordability and security, nearshoring, digital transformation, and sustainability.</li><li>The company’s underlying sales rose by 8%, with operational leverage standing at 54%, resulting in a 140 basis point EBITDA expansion to 26%.</li></ul>

Emerson Electric reported a robust operating performance for the second quarter of 2024, surpassing their expectations.The buoyant operating performance was driven by strong demand in process and hybrid markets, which aligns with significant macroeconomic trends like energy affordability and security, nearshoring, digital transformation, and sustainability.The company’s underlying sales rose by 8%, with operational leverage standing at 54%, resulting in a 140 basis point EBITDA expansion to 26%.

Emerson Electric Co.: How Will The Adoption of Advanced Power Grid Management Software Impact Future Revenues? - Major Drivers

External reports (aggregated public sources), Value Investors Club

Value Investors Club (VIC)

External reports (aggregated public sources)

Value Investors Club

<ul><li>Emerson has undergone significant portfolio transformations, reducing from five business lines to two by 2021</li><li>Incoming CEO Lal Karsanbhai announced strategic actions including selling InSinkErator and a majority stake in Climate Tech, while acquiring stakes in AspenTech and National Instruments</li><li>These moves aimed to further position Emerson as a provider of commercial refrigeration systems, consumer controls, software for process industries, and digital test equipment.</li></ul>This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.

Emerson has undergone significant portfolio transformations, reducing from five business lines to two by 2021Incoming CEO Lal Karsanbhai announced strategic actions including selling InSinkErator and a majority stake in Climate Tech, while acquiring stakes in AspenTech and National InstrumentsThese moves aimed to further position Emerson as a provider of commercial refrigeration systems, consumer controls, software for process industries, and digital test equipment.This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.

Emerson Electric Co (EMR) - Monday, Jan 15, 2024

United States

Emerson Electric Co. designs and manufactures electronic and electrical equipment, software, systems and services for industrial, commercial and consumer markets worldwide through its network power, process management, industrial automation, climate technologies and commercial & residential solutions divisions.

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Emerson Electric Co (EMR US)

US Factor Strategies: Value and Dividend Yield Outperform in September, Higher for Longer Narrative

US rates and factor strategies: higher for longer likely to drive outperformance of short duration factor strategies, long US value short US growth.

DMA

Weekly Update (AMRZ, LION, FTV)

The AMRZ spin-off aims to capitalize on the higher valuation multiples of US building supply companies compared to their European counterparts.

Richard Howe

Emerson Electric Co.: A Story Of Deepening Market Penetration in Test & Measurement! - Major Drivers

Emerson Electric Co. has presented its third quarter 2024 earnings, demonstrating a strong operational and financial performance amidst a...

Baptista Research

Emerson Electric Co.: How Will The Adoption of Advanced Power Grid Management Software Impact Future Revenues? - Major Drivers

Emerson Electric reported a robust operating performance for the second quarter of 2024, surpassing their expectations. The buoyant operating...

Baptista Research

Emerson Electric Co (EMR) - Monday, Jan 15, 2024

These moves aimed to further position Emerson as a provider of commercial refrigeration systems, consumer controls, software for process...

Value Investors Club (VIC)

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