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TWST: Would you give us an overview of your coverage? And how are you
defining this industrial manufacturing segment?
Mr. LaGaipa: Our coverage universe primarily consists of 11 companies.
The name of our coverage universe is called Industrial Diversified '
that's the universe that we cover. The stocks that are in our universe
of coverage are fairly eclectic. We cover names such as Danaher Corp.
(DHR), Illinois Tool Works (ITW), Eaton Corp. (ETN), Parker-Hannifin
(PH), Graco (GGG), IDEX Corp. (IEX), and Gibraltar Industries (ROCK).
And then there are a few names that we classify more as specialty names,
and those include Allegheny Technologies (ATI), GrafTech International
(GTI), FreightCar America (RAIL), and American Railcar Industries
(ARII). Those ones we classify a little bit differently because they
aren't as diverse as many of the other names. TWST: Is there a common thread?
Mr. LaGaipa: Most of them kind of fit into the capital goods machinery
area. Obviously, a number of analysts on the Street have universes that
are called different things, but generally the common thread is that
these are industrial manufacturing companies producing a variety of
different components and equipment. In many cases, they are global
companies; they are not just focusing on the US, but rather are focusing
on a global perspective. But I would say that roughly about two-thirds
or more of most companies' sales are derived from the US.
Tickers included in this excerpt:
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