< The 2014 All-America Research TeamStephen VolkmannJefferiesFirst-Place Appearances: 0
Total Appearances: 8
Analyst Debut: 2001Jefferies researcher Stephen Volkmann, who repeats in third place, is “clear in his theses and helpful in providing access to managements,” one asset manager declares. In June 2013, Volkmann upgraded Canton, Ohio–based ball-bearings producer Timken Co. from hold to buy, at a split-adjusted $39.15, anticipating that the announced spin-off of its steel business would help unlock shareholder value. The transaction was completed with TimkenSteel Corp.’s listing a year later, and Timken’s share price peaked at $49.46 in early July before settling back to $44.77 in the middle of September. Volkmann monitors 18 U.S. machinery names, and looking ahead, he favors Parker-Hannifin Corp. of Cleveland. The motion-controls manufacturer is undervalued, he believes, given that its “underlevered balance sheet can be used for accretive acquisitions and/or share repurchases.” His price objective of $130 represents an 11 percent premium to the stock’s value in mid-September.
RUNNER(S)-UP
Nicole DeBlase
Morgan Stanley
Ross Gilardi
Bank of America Merrill Lynch
Andrew Kaplowitz
Barclays
