Spectris PLC (SXS.L)

Demand has slowed. Just have to wait for things to turn around. When profits recover, so should the stock price. Serial acquirer. Yield is 4%, grows roughly 7-10% a year, and very attractive at these levels.

All his past picks on this date were small-caps and chosen, based on him expecting US interest rates to fall. All were turnaround plays. He used dollar-cost averaging. SXS demand has fallen, but acquisitions are paying off. The dividend is rising, now 3.5%. Also, the UK pound is rising against the CAD. He's still buying.

Is a supplier of precision instrumentation and controls. Shares have fallen and now trades 12x PE with decent dividend growth. Asset lite with good dividend growth.

Small British company, and he doesn’t have to worry about Brexit because 70% of revenues come from outside Britain. Testing and measurement equipment for water, foundations, safety. Weaker quarter, but trading at 9x earnings. Good entry point for half a position. Yield is 2.4%. (Analysts’ price target is £2,746.07)