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Jan. 6, 2010, 7:23 a.m. EST

Goldman still favors industrials over defense

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By Steve Goldstein

LONDON (MarketWatch) -- Goldman Sachs said it's still recommending a pro-cyclical stance across industrials and basic materials companies it covers. Top ideas are Cummins Engine /zigman2/quotes/208385233/composite CMI -0.11% , Albemarle /zigman2/quotes/200578017/composite ALB +0.78% , Potash , Dow Chemical /zigman2/quotes/203121064/composite DOW -0.28% , Schweitzer-Mauduit International /zigman2/quotes/208081440/composite SWM -2.56% , U.S. Steel /zigman2/quotes/200069642/composite X -2.78% , Chicago Bridge & Iron , Textron /zigman2/quotes/210490092/composite TXT -0.16% and Spirit Aerosystems /zigman2/quotes/205043289/composite SPR -5.49% . It added 3M /zigman2/quotes/205029460/composite MMM -0.24% to its conviction buy list on hopes for a turn in U.S. residential construction and potential for accretive M&A, and added Martin Marietta Materials /zigman2/quotes/208827848/composite MLM -2.44% to conviction buy on its bullish view of the U.S. construction sector, while it's still cautious on defense, and cut Lockheed Martin /zigman2/quotes/200691238/composite LMT -1.92% to conviction sell from neutral on high platform exposure and potential delays in the joint strike fighter program and Louisiana-Pacific /zigman2/quotes/204620507/composite LPX -1.58% to conviction sell from neutral on valuation.

/zigman2/quotes/208385233/composite
US : U.S.: NYSE
$ 169.60
-0.19 -0.11%
Volume: 2.76M
May 29, 2020 4:00p
P/E Ratio
12.45
Dividend Yield
3.09%
Market Cap
$25.02 billion
Rev. per Employee
$379,668
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/zigman2/quotes/200578017/composite
US : U.S.: NYSE
$ 76.52
+0.59 +0.78%
Volume: 1.59M
May 29, 2020 4:00p
P/E Ratio
16.06
Dividend Yield
2.01%
Market Cap
$8.14 billion
Rev. per Employee
$572,025
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/zigman2/quotes/203121064/composite
US : U.S.: NYSE
$ 38.60
-0.11 -0.28%
Volume: 5.25M
May 29, 2020 4:00p
P/E Ratio
N/A
Dividend Yield
7.25%
Market Cap
$28.59 billion
Rev. per Employee
N/A
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/zigman2/quotes/208081440/composite
US : U.S.: NYSE
$ 30.39
-0.80 -2.56%
Volume: 224,871
May 29, 2020 4:00p
P/E Ratio
10.41
Dividend Yield
5.79%
Market Cap
$948.03 million
Rev. per Employee
$297,286
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/zigman2/quotes/200069642/composite
US : U.S.: NYSE
$ 8.04
-0.23 -2.78%
Volume: 9.84M
May 29, 2020 4:00p
P/E Ratio
N/A
Dividend Yield
0.50%
Market Cap
$1.37 billion
Rev. per Employee
$489,379
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/zigman2/quotes/210490092/composite
US : U.S.: NYSE
$ 30.97
-0.05 -0.16%
Volume: 2.79M
May 29, 2020 4:00p
P/E Ratio
10.44
Dividend Yield
0.26%
Market Cap
$7.05 billion
Rev. per Employee
$399,200
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/zigman2/quotes/205043289/composite
US : U.S.: NYSE
$ 21.67
-1.26 -5.49%
Volume: 13.12M
May 29, 2020 4:00p
P/E Ratio
11.18
Dividend Yield
0.18%
Market Cap
$2.29 billion
Rev. per Employee
$424,824
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/zigman2/quotes/205029460/composite
US : U.S.: NYSE
$ 156.44
-0.38 -0.24%
Volume: 8.63M
May 29, 2020 4:00p
P/E Ratio
18.36
Dividend Yield
3.76%
Market Cap
$89.98 billion
Rev. per Employee
$350,368
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/zigman2/quotes/208827848/composite
US : U.S.: NYSE
$ 192.09
-4.81 -2.44%
Volume: 702,837
May 29, 2020 4:00p
P/E Ratio
20.26
Dividend Yield
1.15%
Market Cap
$11.96 billion
Rev. per Employee
$487,063
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/zigman2/quotes/200691238/composite
US : U.S.: NYSE
$ 388.44
-7.60 -1.92%
Volume: 1.73M
May 29, 2020 4:00p
P/E Ratio
17.63
Dividend Yield
2.47%
Market Cap
$108.93 billion
Rev. per Employee
$512,019
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/zigman2/quotes/204620507/composite
US : U.S.: NYSE
$ 23.61
-0.38 -1.58%
Volume: 2.20M
May 29, 2020 4:00p
P/E Ratio
13,888
Dividend Yield
2.46%
Market Cap
$2.65 billion
Rev. per Employee
$577,143
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