Industrial Research Analysts
Comprehensive investigation, research and thought are used by our analysts to create the best information and options for our clients.
Steve Barger
Industrial Manufacturing
Steve Barger is a Managing Director, Equity Research Analyst with KeyBanc Capital Markets Inc. He joined the company in 2004 as a research associate, covering automotive parts suppliers. He was promoted to research analyst in January 2006, and his research coverage is focused on industrial manufacturers.
Barger’s previous experience includes serving as general manager and partner at Cleveland Tank & Supply, Inc., as well as owning and operating a local business.
Prior to that, Barger served as a Sergeant in the U.S. Army's 75th Ranger Regiment.
Barger earned a Bachelor of Science in Management, with a concentration in Finance, from the Weatherhead School of Management at Case Western Reserve University in Cleveland.
In its May 2011 “Best on the Street” Analyst Survey, The Wall Street Journal ranked Barger as the #5 stock picker in the Heavy Machinery and Materials sector for 2010. This is Barger’s second WSJ award. Barger was also recognized as the #3 stock picker in the Machinery sector by the Financial Times/StarMine in May 2011.
Industrial Manufacturing Companies Under Research Coverage
| Company | Ticker |
|---|---|
| Advanced Energy Industries, Inc. | AEIS |
| AMETEK, Inc. | AME |
| Applied Materials, Inc. | AMAT |
| Federal Signal Corporation | FSS |
| GATX Corporation | GMT |
| HD Supply Holdings, Inc. | HDS |
| Herc Holdings Inc. | HRI |
| Joy Global Inc. | JOYG |
| Kaman Corporation | KAMN |
| Kennametal Inc. | KMT |
| KLA Corporation | KLAC |
| Lam Research Corporation | LRCX |
| Lawson Products, Inc. | LAWS |
| Lincoln Electric Holdings, Inc. | LECO |
| MKS Instruments, Inc. | MKSI |
| MSC Industrial Direct Co., Inc. | MSM |
| Myers Industries, Inc. | MYE |
| NN, Inc. | NNBR |
| Oshkosh Corporation | OSK |
| Park-Ohio Holdings Corp. | PKOH |
| RBC Bearings, Inc. | ROLL |
| Teradyne, Inc. | TER |
| Terex Corporation | TEX |
| The Greenbrier Companies, Inc. | GBX |
| The Timken Company | TKR |
| Trinity Industries, Inc. | TRN |
| WESCO International, Inc. | WCC |
| Westinghouse Air Brake Technologies Corporation | WAB |
Sean Eastman
Business Services, Construction & Engineering
Sean Eastman is an Equity Research Analyst with KeyBanc Capital Markets Inc. His research coverage is focused on the engineering & construction sector, as well as the business services sector.
Prior to assuming coverage of the E&C sector in September 2019 and the business services sector in August 2018, Eastman worked at KBCM as a senior research associate covering the E&C sector since 2014, and he co-covered four companies.
Eastman earned a Bachelor of Commerce degree in Finance and Economics from Concordia University in Montreal. He holds the Series 7, 63, 86 and 87 industry licenses.
Business Services, Construction & Engineering Companies Under Research Coverage
| Company | Ticker |
|---|---|
| ABM Industries Incorporated | ABM |
| AECOM Technology Corporation | ACM |
| Bloom Energy Corporation | BE |
| Casella Waste Systems, Inc. | CWST |
| Comfort Systems, USA, Inc. | FIX |
| Dycom Industries, Inc. | DY |
| Emcor Group, Inc. | EME |
| Fluor Corporation | FLR |
| Jacobs Engineering Group Inc. | J |
| KBR, Inc. | KBR |
| MasTec, Inc. | MTZ |
| MYR Group Inc. | MYRG |
| Primoris Services Corporation | PRIM |
| Quanta Services, Inc. | PWR |
| Republic Services, Inc. | RSG |
| Sterling Construction Company, Inc. | STRL |
| Tetra Tech, Inc. | TTEK |
| Waste Connections, Inc. | WCN |
| Waste Management, Inc. | WM |
Todd C. Fowler
Transportation/Logistics
Todd Fowler is a Managing Director, Equity Research Analyst with KeyBanc Capital Markets Inc. With the company since June 2006, his research coverage is focused on transportation and logistics companies.
Fowler previously worked for FTN Midwest Securities, where he was an associate analyst responsible for coverage of companies primarily in the transportation and aerospace & defense industries. Prior to that, Fowler worked as a public accountant in the audit practices for Arthur Andersen and Ernst & Young, where he was responsible for clients in the automotive, manufacturing and retail sectors.
Fowler earned a Bachelor of Science in Accounting from the University of Dayton in Ohio.
In 2018, Fowler was ranked the #3 stock picker in the air freight & logistics sector by Thomson Reuters. This was Fowler's sixth time being recognized by Thomson Reuters/StarMine.
Transportation/Logistics Companies Under Research Coverage
| Company | Ticker |
|---|---|
| Arkansas Best Corporation | ABFS |
| C.H. Robinson Worldwide, Inc. | CHRW |
| Embark Technology, Inc. | EMBK |
| FedEx Corporation | FDX |
| Forward Air Corporation | FWRD |
| GXO Logistics, Inc. | GXO |
| Heartland Express, Inc. | HTLD |
| Hub Group Inc. | HUBG |
| J.B. Hunt Transport Services, Inc. | JBHT |
| Knight-Swift Transportation Holdings Inc. | KNX |
| Landstar System, Inc. | LSTR |
| Marten Transport, Ltd. | MRTN |
| Old Dominion Freight Line, Inc. | ODFL |
| Ryder System, Inc. | R |
| Saia, Inc. | SAIA |
| Schneider National, Inc. | SNDR |
| TuSimple Holdings Inc | TSP |
| United Parcel Service, Inc. | UPS |
| Werner Enterprises, Inc. | WERN |
| XPO Logistics, Inc. | XPO |
Philip Gibbs
Metals & Mining
Philip Gibbs is a Director, Equity Research Analyst with KeyBanc Capital Markets Inc. With the company since May 2006, his research focuses on the metals & mining industry.
Prior to his promotion to Research Analyst, Gibbs worked as a Research Associate on KeyBanc Capital Markets’ metals & mining team. Previous professional experience includes working for A.G. Edwards & Sons Financial in Westlake, Ohio.
Gibbs earned a Bachelor of Science in Business Administration with a concentration in Finance from Miami University in Oxford, Ohio. He holds the Series 7, 63, 86 and 87 industry licenses, and is a CFA Level III candidate. He is also an active member of the CFA Society of Cleveland.
In its June 2017 Analyst Awards, Thomson Reuters StarMine recognized Gibbs as the #3 earnings estimator in the Metals & Mining sector. This was his second StarMine award. In Institutional Investor’s 2014 All America edition, Gibbs was named a Rising Star for his coverage of the Metals & Mining sector.
Metals & Mining Companies Under Research Coverage
| Company | Ticker |
|---|---|
| Allegheny Technologies Incorporated | ATI |
| ArcelorMittal S.A. | MT |
| Carpenter Technology Corporation | CRS |
| Cliffs Natural Resources, Inc. | CLF |
| Commercial Metals Company | CMC |
| Gibraltar Industries | ROCK |
| Haynes International, Inc. | HAYN |
| Hexcel Corporation | HXL |
| Howmet Aerospace Inc. | HWM |
| Luxfer Holdings PLC | LXFR |
| Materion Corporation | MTRN |
| Nucor Corporation | NUE |
| Olympic Steel, Inc. | ZEUS |
| Reliance Steel & Aluminum Co. | RS |
| Ryerson Holding Corporation | RYI |
| Schnitzer Steel Industries, Inc. | SCHN |
| Steel Dynamics, Inc. | STLD |
| TimkenSteel Corporation | TMST |
| United States Steel Corporation | X |
| Universal Stainless & Alloy Products, Inc. | USAP |
| Worthington Industries, Inc. | WOR |
Jeffrey D. Hammond
Industrial Manufacturing
Jeffrey D. Hammond is a Managing Director, Equity Research Analyst with KeyBanc Capital Markets Inc. He joined the Company in June 1999 as a research associate on the industrial team. He was promoted to research analyst in early 2001, and his research coverage is focused on diversified industrial companies.
Hammond was previously an auditor with Ernst & Young LLP. He earned his Bachelor of Science in Business Administration (Accountancy) from Miami University in Oxford, Ohio.
Industrial Manufacturing Companies Under Research Coverage
| Company | Ticker |
|---|---|
| Altra Holdings, Inc. | AIMC |
| A.O. Smith Corporation | AOS |
| Carrier Global Corporation | CARR |
| Circor International, Inc. | CIR |
| Colfax Corporation | CFX |
| Eaton Corporation | ETN |
| Enerpac Tool Group | EPAC |
| EnPro Industries, Inc. | NPO |
| Gates Industrial Corporation plc | GTES |
| Generac Holdings Inc. | GNRC |
| Graco Inc. | GGG |
| Harsco Corporation | HSC |
| Hayward Holdings, Inc. | HAYW |
| Helios Technologies | HLIO |
| ITT Corporation | ITT |
| Janus International Group, Inc. | JBI |
| Lennox International Inc. | LII |
| The Middleby Corporation | MIDD |
| nVent Electric plc | NVT |
| Nordson Corporation | NDSN |
| Parker-Hannifin Corporation | PH |
| Pentair, Inc. | PNR |
| Regal Rexnord Corporation | RRX |
| Trane Technologies plc | TT |
| Watsco, Inc. | WSO |
| Watts Water Technologies, Inc. | WTS |
| Welbilt, Inc. | WBT |
| Zurn Water Solutions Corporation | ZWS |
Adam Josephson, CFA
Paper & Packaging
Adam Josephson is a Managing Director, Equity Research Analyst with KeyBanc Capital Markets Inc. His research coverage is focused on the packaging sector.
Prior to his promotion to a senior Research Analyst, Josephson worked for KBCM as a Research Associate covering various sectors, including IT services, retail softlines and apparel, and packaged foods. Previous professional experience includes positions as an Analyst for Celent Communications in Boston, as a Client Services Representative for Fidelity Investments in both Boston and Mission Viejo, Calif., and as a Financial Advisor for UBS PaineWebber in Phoenix. He also served internships with Citigroup Investment Research in New York and Weston Capital Management in Westport, Conn.
Josephson earned a Bachelor of Arts from Brown University in Providence, R.I., as well as a Master of Business Administration from the University of North Carolina’s Kenan-Flagler Business School. He is a Chartered Financial Analyst and holds the Series 7, 63, 86 and 87 industry licenses.
In its 2018 Analyst Awards, Thomson Reuters recognized Josephson as the #1 earnings estimator in the containers & packaging sector. This was his third Thomson Reuters award. In Institutional Investor’s 2013 and 2014 All America editions, Josephson was named a Rising Star for his coverage of the paper & packaging sector.
Paper & Packaging Companies Under Research Coverage
| Company | Ticker |
|---|---|
| Agnico Eagle Mines Limited | AEM |
| Aptar Group | ATR |
| Avery Dennison Corporation | AVY |
| Ball Corporation | BLL |
| Barrick Gold Corporation | GOLD |
| Berry Plastics Group, Inc. | BERY |
| CCL Industries | CCL.B |
| Clearwater Paper Corporation | CLW |
| Crown Holdings, Inc. | CCK |
| Franco-Nevada Corporation | FNV |
| Graphic Packaging Holding Company | GPK |
| Greif, Inc. | GEF |
| International Paper Company | IP |
| Newmont Corporation | NEM |
| O-I Glass, Inc. | OI |
| Packaging Corporation of America | PKG |
| Royal Gold, Inc. | RGLD |
| Sealed Air Corporation | SEE |
| Silgan Holdings, Inc. | SLGN |
| Sonoco Products Company | SON |
| WestRock Company | WRK |
| Wheaton Precious Metals Corp. | WPM |
Ken Newman
Industrial Distributors/Equipment Rental
Ken Newman is a Vice President and Equity Research Analyst with KeyBanc Capital Markets Inc. His research coverage is focused on the industrial supply chain, including the Industrial Distributor and Equipment Rental sectors.
Ken joined KeyBanc Capital Markets as a research associate in 2014, covering the Industrial Machinery OEMs and Industrial Distributors. Prior to joining KBCM, Ken worked as an investment banking analyst at PNC Capital Markets Inc.
Ken earned his BBA from Ohio University with a double major in Finance and International Business. He holds the Series 7, 63, 52, 79, 86 and 87 industry licenses.
Industrial Distributors/Equipment Rental Companies Under Research Coverage
| Applied Industrial Technologies, Inc. | AIT |
| Fastenal Company | FAST |
| Herc Holdings Inc. | HRI |
| MRC Global Inc. | MRC |
| TriMas Corporation | TRS |
| United Rentals, Inc. | URI |
| W.W. Grainger, Inc. | GWW |
Aleksey Yefremov
Chemicals
Aleksey Yefremov is a Managing Director, Equity Research Analyst with KeyBanc Capital Markets Inc. With the Company since December 2019, his research coverage is focused on chemicals companies.
Prior to joining KeyBanc Capital Markets, Yefremov spent five years as a Senior Equity Research Analyst covering chemicals at Nomura Securities. Before that, he worked for BofA/Merrill Lynch, first as an Associate, then as an Analyst, covering chemicals. Other previous experience includes working as an Analysis Specialist at Accenture.
Yefremov earned a Master’s Degree in Finance from the St. Petersburg University of Economics and Finance in Russia, as well as an M.B.A. from the Kellogg School of Management at Northwestern University in Illinois. He also holds the Series 7, 63, 86 & 87 industry licenses.
Chemicals Companies Under Research Coverage
| Company | Ticker |
|---|---|
| Albemarle Corporation | ALB |
| Axalta Coating Systems Ltd. | AXTA |
| Celanese Corporation | CE |
| Corteva, Inc. | CTVA |
| DuPont de Nemours, Inc. | DD |
| Dow Inc. | DOW |
| Eastman Chemical Company | EMN |
| Entegris, Inc. | ENTG |
| FMC Corporation | FMC |
| Huntsman Corporation | HUN |
| Livent Corporation | LTHM |
| LyondellBasell Industries N.V. | LYB |
| Olin Corporation | OLN |
| PQ Group Holdings Inc. | PQG |
| Westlake Chemical Corporation | WLK |
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