Shares of Parker Hannifin (PH), took a hit a few weeks ago after the CEO of the leading maker of hydraulics expressed concern about surging input costs -- namely oil, copper and aluminum.
But now those commodity prices are beginning to stabilize and the pullback in Parker Hannifin's share price makes the stock even more attractive.
Sam Dedio, portfolio manager of Artio U.S. Midcap Fund (JMDAX) likes the technology company because it proved to be especially nimble during the last few years as the economy struggled, and has managed to boost productivity.
It has also expanded its reach to China, which should drive earnings significantly higher, Deido said.
The Russell Midcap Index, which tracks companies with a market value between $1 billion and $14 billion, is up more than 8% in 2011, outperforming both the Russell 2000 and the S&P 500. More
The U.S. stock market has been resilient over the past year, but these 10 stocks are in a league of their own. Share of well-known companies like Fossil have at least doubled in value. More
