Palisade Asset Management was founded in 2002 and it has a current investment portfolio of $487 million with The Valspar Corporation (NYSE:VAL), International Business Machines Corp. (NYSE:IBM), Microsoft Corporation (NASDAQ:MSFT) as its top stock holdings in accordance with its latest SEC 13F filing on October 9. Palisade Asset Management has its primary investment in material and industrial sectors.
The Valspar Corporation (NYSE:VAL) is the largest stock holding of Palisade Asset Management with 791,517 shares of the company at net market value of $62 million. The Valspar Corporation (NYSE:VAL) reported net sales of $1.2 billion for third quarter 2014 with dilutes EPS of $1.21. Some of the primary investors in The Valspar Corporation (NYSE:VAL) include Iridian Asset Management ($269 million) and Citadel Investment Group ($85 million) along with D E Shaw ($71 million) follow Iridian Asset Management.
Palisade Asset Management has its second largest stock holdings in International Business Machines Corp. (NYSE:IBM) with net investment of $14 million and 74,334 shares of the tech giant. International Business Machines Corp. (NYSE:IBM) has collaborated with SAP SE (ADR) (NYSE:SAP) to compete against new competitors in cloud computing industry. Under the partnership SAP will use the existing data centers of IBM for offering its cloud-based database, Hana Enterprise Cloud, without having to expand its existing data center network.
Microsoft Corporation (NASDAQ:MSFT) comes at number three in Palisade Asset Management’s portfolio with investment worth $13 million and 301,511 shares of the company. Earlier this month, Microsoft Corporation (NASDAQ:MSFT) was ahead of Sony Corp (ADR) (NYSE:SNE) in selling Xbox against Sony’s PS4. As per records, the windows maker sold up to 325,000 Xbox devices against 250,000 PS4 units primarily because of its aggressive promotion strategy and reduction in Xbox prices. After lowering the price of Xbox to $349 in June, the company received double orders for the gaming device as compared to its earlier month’s sale.
This article has been written by Prakash Pandey.