Industrial Research Analysts

In-depth analysis of the industrial market.

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 and Equity Research Analyst for KeyBanc Capital Markets Inc. He joined the firm 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
Amkor Technology, Inc. (AMKR) AMKR
Applied Materials, Inc. AMAT
Federal Signal Corporation FSS
GATX Corporation GMT
HD Supply Holdings, Inc. HDS
Herc Holdings Inc. HRI
Joy Global Inc. JOYG
Kennametal Inc. KMT
KLA Corporation KLAC
Lam Research Corporation LRCX
Lincoln Electric Holdings, Inc. LECO
MKS Instruments, Inc. MKSI
Myers Industries, Inc. MYE
Oshkosh Corporation OSK
Park-Ohio Holdings Corp. PKOH
RBC Bearings Incorporated RBC
Teradyne, Inc. TER
Terex Corporation TEX
The Greenbrier Companies, Inc. GBX
The Timken Company TKR
Trinity Industries, Inc. TRN
Westinghouse Air Brake Technologies Corporation WAB

Philip Gibbs

Metals & Mining/Aerospace and Defense

Philip Gibbs is a Director and Equity Research Analyst for KeyBanc Capital Markets Inc. With the firm since May 2006, he focuses his research on the metals & mining/aerospace and defense industry.

Prior to his promotion to Research Analyst, Gibbs worked as a Research Associate on KeyBanc Capital Markets’ metals & mining team. His 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/Aerospace & Defense Companies Under Research Coverage

Company Ticker
ATI Inc. ATI
ArcelorMittal S.A. MT
Carpenter Technology Corporation CRS
Cliffs Natural Resources, Inc. CLF
CMC CMC
Gibraltar Industries ROCK
Haynes International, Inc. HAYN
Hexcel Corporation HXL
Howmet Aerospace Inc. HWM
Materion Corporation MTRN
Metallus Inc. MTUS
Nucor Corporation NUE
Olympic Steel, Inc. ZEUS
Reliance, Inc. RS
Rocket Lab USA, Inc.  RKLB
Ryerson Holding Corporation RYI
Schnitzer Steel Industries, Inc. SCHN
Spirit AeroSystems Holdings, Inc. SPR
Steel Dynamics, Inc. STLD
TransDigm Group Incorporated TDG
United States Steel Corporation X
Universal Stainless & Alloy Products, Inc. USAP
Virgin Galactic Holdings, Inc. SPCE
Worthington Steel, Inc. WS

Jeffrey D. Hammond

Industrial Manufacturing

Jeffrey D. Hammond is a Managing Director and Equity Research Analyst for KeyBanc Capital Markets Inc. He joined the firm 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 at Ernst & Young LLP. He earned his Bachelor of Science degree in business administration (accountancy) from Miami University in Oxford, Ohio.

Industrial Manufacturing Companies Under Research Coverage

Company Ticker
Advanced Drainage Systems, Inc. WMS
A.O. Smith Corporation AOS
Atkore Inc. ATKR
Carrier Global Corporation CARR
Eaton Corporation ETN
EnPro Industries, Inc. NPO
Gates Industrial Corporation plc GTES
Generac Holdings Inc. GNRC
Graco Inc. GGG
Hayward Holdings, Inc. HAYW
Helios Technologies HLIO
Hillenbrand, Inc. HI
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
Zurn Elkay Water Solutions Corporation ZWS

Sangita Jain, CFA

Construction and Engineering/Alternative Energy

Sangita Jain is a Vice President and Equity Research Analyst for KeyBanc Capital Markets Inc. With the firm since August 2016, she focuses her research on the construction & engineering/alternative energy sector.

Jain joined the KBCM Utilities and Alternative Energy team in 2020 as a Senior Associate. She has previous equity research experience in Construction and Engineering, Oil & Gas Exploration and Production, and Paper & Packaging. Prior to joining KBCM, Jain worked in equity research at J.P. Morgan and Lehman Brothers.

Jain earned an undergraduate degree in economics from Presidency College in Kolkata, India, and an MBA from New York University. She is a CFA charter holder and holds the Series 7, 63, 86, and 87 industry certifications. 

Construction & Engineering/Alternative Energy Companies Under Research Coverage

Company Ticker
AECOM ACM
Arcadis NV ARCAD
Ballard Power Systems Inc. BLDP
Bloom Energy Corporation BE
Centuri Holdings, Inc. CTRI
Comfort Systems USA, Inc. FIX
Dycom Industries, Inc. DY
EMCOR Group, Inc. EME
Fluor Corporation FLR
FuelCell Energy, Inc. FCEL
Jacobs Solutions Inc. J
KBR, Inc.  KBR
MasTec, Inc. MTZ
MYR Group Inc. MYRG
Parsons Corporation PSN
Plug Power Inc. PLUG
Quanta Services, Inc. PWR

Ken Newman

Industrial Distributors/Equipment Rental

Ken Newman is a Vice President and Equity Research Analyst for 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 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 Bachelor of Business Administration 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

Company Ticker
Applied Industrial Technologies, Inc. AIT
Ashtead Group PLC AHT.L
Cognex Corporation CGNX
Distribution Solutions Group, Inc. DSGR
DMC Global Inc. BOOM
Emerson Electric Co. EMR
Fastenal Company FAST
H&E Equipment Services, Inc. HEES
Herc Holdings Inc. HRI
MRC Global Inc. MRC
MSC Industrial Direct Co., Inc. MSM
Rockwell Automation, Inc. ROK
Symbotic Inc. SYM
TriMas Corporation TRS
United Rentals, Inc. URI
W.W. Grainger, Inc. GWW
WESCO International, Inc. WCC
Zebra Technologies Corporation ZBRA

Aleksey Yefremov

Chemicals

Aleksey Yefremov is a Managing Director and Equity Research Analyst for KeyBanc Capital Markets Inc. With the firm since December 2019, he focuses his research 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 MBA from the Kellogg School of Management at Northwestern University in Illinois. He also holds the Series 7, 63, 86, and 87 industry licenses.

Chemicals Companies Under Research Coverage

Company Ticker
Albemarle Corporation ALB
Arcadium Lithium plc ALTM
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
LyondellBasell Industries N.V. LYB
Olin Corporation OLN
PPG Industries, Inc. PPG
PQ Group Holdings Inc. PQG
RPM International Inc. RPM
The Sherwin-Williams Company SHW
Westlake Chemical Corporation WLK

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KBCM Research LLC (“KeyBanc Capital Markets Research”), an SEC registered investment advisor, is a wholly owned subsidiary of KeyBanc Capital Markets Inc. KeyBanc Capital Markets Research provides objective and sophisticated Research Services, primarily in the form of published Research Reports, to an institutional client base in exchange for a cash fee. KBCM Research does not provide particularized investment advice with regard to any specific institutional client, on the basis of specific sector or company requests from a client. Our advisory relationship with our clients is strictly limited to the provision of Research Services, which are not to be construed as a solicitation or an offer to buy or sell any securities or related financial instruments. Additional information about KBCM Research LLC also is available on the SEC’s Investment Adviser Public Disclosure (IAPD) website.

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