'Techno-Industrials': How to Play This New Sector
Randy Bateman is a four-star fund manager who's come up with an entire new sector, techno-industrials -- and he's found some enticing investment opportunities there.
Randy Bateman is chief investment officer for Huntington Funds, and his firm's Huntington Situs Small Cap Fund is up an impressive 12.43 percent year-to-date.
"It's really, basically, taking high technology material and processes and allowing them to be used in industrial applications," he told CNBC, describing the techno-industrial sector.
Trimble Navigation is one of Bateman's techno-industrial picks.
"They make a lot of GPS and laser-technology type of processes that allow better use of human resources in the field," he said.
Trimble shares have been taking a beating recently, as have those of Ceradyne, and Bateman says that's made them bargains.
"Ceradyne is very, very much into defense manufacturing, using its ceramic technologies," he told CNBC. "We know that a lot of things that are learned on the battlefield ultimately find their way into consumer products. This happened during the first Iraqi war with GPSs. Now they're on pretty much every car."
Bateman owns both stocks through his fund.