Top investor steps in to buy beaten-down stock

Stock performance chart on computer screen
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Paul Meeks, director of institutional investing at Saturna Capital, is scooping up shares of an industrial name that has recently been beaten down.

The notable investor decided to step in and pick up shares of Power Solutions International for his "Squawk Box" Platinum Portfolio, seeing the recent drop in the stock as a buying opportunity.

Here's why he believes the stock could move higher.