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The 2014 All-America Research Team: Chemicals, No. 2: Vincent Andrews III
Total appearances: 3
Team debut: 2012
Repeating in second placeon this list,Vincent Andrews IIIof Morgan Stanley is “a voice of reason,” one fund manager attests. The analyst remains neutral on U.S. chemicals companies — whose shares climbed 8.6 percent year to date through mid-September, eclipsing the nation’s broad market by 1.3 percentage points — primarily owing to the sluggish macroeconomic environment. He reports on 25 stocks in the group, earning additional praise for “helping us stay on top of farmland trends,” in the words of another client, who also singles out Andrews’s July examination of the supply and demand dynamics for acetate tow, an engineered wood pulp fiber that is highly desired for manufacturing cigarette filters. In that piece, Andrews advised investors that cigarette sales were declining worldwide, and he reiterated his long-standing equal weight ratings on two leading producers of acetate tow: Celanese Corp., headquartered in Irving, Texas; and Kingsport, Tennessee’s Eastman Chemical Co. The shares had advanced 32.4 percent and 17.5 percent, respectively, during the preceding 12 months, against the sector’s rise of 24.3 percent. Two months later, Celanese had dipped 3.3 percent, to $60.30, and Eastman Chemical had slid to $82.93, down 3.8 percent. Over the same period the sector was flat.