Friday, October 12, 2012

Indiana Corp Stock Prices Up an Average 131% Since President Obama Took Office

In a recent post, from an extensive review of SEC filings, I found 65 Non-Utility Corps headquartered in the State of Indiana, which generated Core, Ongoing Pretax Income or Pretax Loss of at least $5 mil each in any of the most recent three fiscal years.

In this past recent post, I also found that these 65 Largest Indiana Corps filing with the SEC had Audited under US Generally Accepted Accounting Principles (US GAAP) Total After-tax Net Income of $11.9 bil in the most recent fiscal year 2011, which was a profit improvement of a huge $12.5 bil as compared with the $0.6 bil of Total After-tax Net Loss generated by these same 65 Indiana companies just three years earlier in 2008, the last year of the Bush/Cheney Administration.

Indiana Corp 2011 Earnings 

Since corporate earnings drive stock prices, in this post I turn my attention to just how well the stock market prices of these Indiana Corps have performed since President Obama took office.

Of these 65 Indiana Corps, 50 of them had their common stock trading on both January 16, 2009, which is the last day stocks traded before President Obama took office, and also on yesterday's date, Thursday, October 11, 2012.  I've included in these 50, Mead Johnson Nutrition, since it went public as a Bristol Myers spinoff on February 17, 2009, just shortly after President Obama assumed office.

I retrieved all of the below stock market closing price information from the excellent Big website.

These 50 Indiana Corps had an average stock market price increase of an incredibly high 131% since President Obama took office on January 20, 2009.  This is roughly double the increase in both the S&P 500 Index, which increased by 69%, and the Dow Industrials Index, which increased by 61%, both during the same time span.

So what this means in simplistic terms is that if you invested the same amount of money.....say $1, the common stock of each of these 50 Indiana companies at the closing market price on January 16, 2009, this would have cost you initially $50,000, ignoring any transaction costs, and this stock portfolio would now be worth $115,500.  Whew!    

Indiana citizens have to be extremely happy with the stock market performance of their many fine Indiana companies during the Obama Administration.

And Indiana citizens also must be very pleased with how the Obama Administration worked so hard and very effectively on so many fronts to create a US economic environment that permitted these Indiana companies to flat out flourish.  This highly successful effort created a robust US economic environment which was quite a change from what existed in the just  horrible financial meltdown, near Depression year of 2008.

When I think of the Obama Administration, the thought that comes top of mind is whole-scale competence.  But frankly, it's also pretty clear to me that the Obama Administration is just not very good at selling its many accomplishments, particularly on the economic front.  After all, playing a very helpful role in turning a stock portfolio of 50 Indiana companies from $50,000 to $115,500 in only 3 3/4 years is clearly something you want to write home about.

One thing that is really sad to me is how some of the Indiana members of the US House, particularly Larry Bucshon, and also Jackie Walorski, who is running for the US House this time, and also Richard Mourdock, who is running for the US Senate seat of the very highly respected, and frankly irreplaceable, Dick Lugar, have all just continually and loudly blasted the President for being so damaging to Indiana businesses.

Give me a break.....these are the same Indiana businesses whose Total Externally Audited US GAAP After-tax earnings have improved by $12.5 bil from 2008, the last year of the Bush/Cheney Administration, to the most recent year 2011.  And these are also the same Indiana businesses whose average stock market prices have increased by a massive 131% during the Obama Administration.

These unprofessional actions of these people tell you why the approval rating of the US Congress is so incredibly low.  These three people running for office, who are all three strongly supported by the Tea Party, just have no sense of decency.

Below here are the common stock market closing prices of each of these 50 Indiana companies at both the most recent date, and also at the date just before President Obama took office, as well as the percentage stock market price changes for this period of time.

Market Market Percentage

Indiana Price Price Increase

HQs 10-11-12 1-16-09 (Decrease)

S&P 500 Index
1,432.84 850.12 69%
Dow Industrials Index
13,326.39 8,281.22 61%

Companies Headquartered in Indiana

Patrick Industries Elkhart $17.13 $0.70 2347%
Escalade Evansville $5.40 $0.95 468%
Interactive Intelligence Group Indianapolis $29.49 $6.45 357%
Finish Line Indianapolis $21.13 $5.16 309%
Horizon Bancorp Michigan City $28.55 $8.37 241%
Simon Property Group Indianapolis $153.05 $45.62 235%
Cummins Columbus $86.49 $26.32 229%
Supreme Industries Goshen $3.67 $1.32 178%
CNO Financial Group Carmel $9.77 $3.58 173%
Shoe Carnival Evansville $23.99 $8.81 172%
Mead Johnson Nutrition Evansville $71.01 $26.44 169%
Calumet Specialty Products Partners Indianapolis $30.19 $11.82 155%
Haynes International Kokomo $50.16 $19.65 155%
Celadon Group Indianapolis $16.48 $7.50 120%
German American Bancorp Jasper $23.61 $10.99 115%
Franklin Electric Bluffton $59.63 $27.87 114%
Chromcraft Revington West Lafayette $0.64 $0.32 100%
Brightpoint Indianapolis $8.98 $4.58 96%
Hill-Rom Holdings Batesville $29.84 $15.33 95%
First Savings Financial Group Clarksville $19.00 $10.00 90%
Tower Financial Fort Wayne $12.28 $6.50 89%
Wabash National Lafayette $6.64 $3.63 83%
MutualFirst Financial Muncie $11.35 $6.51 74%
CTS Corp Elkhart $8.48 $5.01 69%
Hurco Companies Indianapolis $23.73 $14.37 65%
WellPoint Indianapolis $60.46 $37.89 60%
Kimball International Jasper $12.42 $7.84 58%
CFS Bancorp Munster $5.64 $3.58 58%
Zimmer Holdings Warsaw $62.90 $40.54 55%
Duke Realty Indianapolis $14.72 $9.97 48%
First Capital Corydon $20.01 $14.44 39%
Symmetry Medical Warsaw $9.81 $7.09 38%
Eli Lilly Indianapolis $50.60 $38.13 33%
Baldwin & Lyons Indianapolis $24.37 $18.93 29%
Lakeland Financial Warsaw $27.23 $21.47 27%
1st Source South Bend $22.83 $19.35 18%
Community Bank Shares New Albany $13.33 $11.77 13%
Steel Dynamics Fort Wayne $12.38 $11.18 11%
Mainsource Financial Group Greensburg $12.59 $11.70 8%
Kite Realty Group Trust Indianapolis $5.37 $5.39 0%
Hillenbrand Batesville $18.69 $19.05 -2%
Old National Bancorp Evansville $13.77 $14.08 -2%
hhgregg Indianapolis $7.31 $7.66 -5%
First Financial Corp Terre Haute $31.94 $33.69 -5%
Bioanalytical Systems West Lafayette $1.32 $1.50 -12%
First Merchants Muncie $14.98 $17.30 -13%
NorthWest lndiana Bancorp Munster $19.00 $22.00 -14%
Republic Airways Indianapolis $4.99 $10.05 -50%
ITT Educational Services Carmel $31.59 $114.77 -72%
Skyline Corp Elkhart $4.85 $17.77 -73%

Average Increase: all 50 Indiana Corps


S&P 500 Index
1,432.84 850.12 69%
Dow Industrials Index
13,326.39 8,281.22 61%

Next.....on to some other close to being US Battleground States.