Sunday, January 5, 2014

US Broad-Based Manufacturing Corps Stock Prices Up an Average 314% Under Obama

From a review of SEC Filings , I found 146 US Broad-Based Manufacturing Companies which generated Core, Ongoing Pretax Income or Pretax Loss of at least $100 mil each in any of the first three years of the Obama Administration (2009, 2010 or 2011), and which also 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 January 3, 2014.  I also included below 10 US Manufacturing Companies which were acquired during 2013 and 5 US Manufacturing Companies which had their common stocks first start trading in the first half of 2010.  That yields a total of 161 US Broad-Based Manufacturing Companies.

The historical stock prices of these companies were obtained from the following two excellent internet resources....  Google Finance and MarketWatch Big Charts.

These 161 US Broad-Based Manufacturing Companies had their average stock prices increase by an off-the-charts 314% from January 16, 2009 to January 3, 2014.  This 314% increase was 2.7 times the 115% increase in the S&P 500 Index over the same time span.

This exceptional stock price increase was very widespread, spanning all of the US Manufacturing Sectors, as you can see in the second chart below.  And there were only 4 of the 161 US Manufacturing Companies with Stock Price declines so far during the Obama Administration.

The Obama Administration has worked very hard to help the US Manufacturing Sector from the very get go.  This US Manufacturing Sector was just crushed in 2008 and early 2009 by the horrible spillover effects of the US financial meltdown.  There were an awful lot of effective things done, but perhaps the single most effective thing done here to turn all of the US manufacturing sector around was the 100% first-year tax expensing of all US equipment purchases in 2010 and 2011.

President Obama is keenly aware that to spur US economic growth and many higher-paid US jobs, the US Manufacturing Sector must be even much more incentivized by both tax and non-tax initiatives, including steps to reshore back to the US many US Multinational Corp jobs, which were offshored in the past two decades to foreign tax havens.

US citizens working in the Manufacturing Sector all throughout the country have to be very happy with the stock market performance of these many fine Manufacturing companies during the Obama Administration.

This exceptional stock price increase in the US Manufacturing Sector is driving a very nice increase in well-paying US jobs in the key US Manufacturing Sector.

The job-multiplier effect with US Manufacturing jobs is flat out superb.  Thus the continued growth in US Manufacturing jobs will help narrow somewhat the huge gap between the very wealthy and everyone else.

Common stockholders of these US Manufacturing Companies should also be very pleased with the Obama Administration.....after all an average stock price increase of 314% in just less than 5 years is just incredible.

One thing the key US Manufacturing Sector needs, in addition to 50% first-year tax expensing for equipment and computer software investments by all large US businesses and 100% first-year tax expensing by all small and medium-sized US businesses, is for timely, simple, permanent US job-creating Research and Experimental Tax Credits.

The current US Congress process of annually giving R&E tax credits retroactively has to be one of the dumbest things ever done by the US Congress.  You should give tax incentives to change future economic behavior, not to reward something much after it has already happened.

R&E spending is predominantly for people costs, and higher-paying people costs at that.

Also, the first-year tax expensing should be timely in order to maximize US job creation.  The optimal incentive for hiring by US Manufacturing Companies is for them to see tax legislation that already exists when they are contemplating whether to hire someone or not.

Let me make a prediction.  If with the November 2014 election, the US Senate remains in Democratic Control and also the US House switches to Democratic Control, this 314% average stock price increase for these 161 US Broad-Based Manufacturing Companies will increase to substantially above 400% over President Obama's entire eight-year Presidential run.  I am pretty certain of it.

From a fairness standpoint, I would let all large businesses get 50% first-year tax expensing in 2014, let both small and medium-sized businesses get 100% first-year tax expensing in 2014, and extend, enlarge and simplify R&E Tax Credit in both 2014 and 2015, but only if this is combined with an increase in the US Federal Minimum Wage to $10.00 per hour over a three-year period as well as a three-month extension, preferably longer, of Unemployment Benefits to those who have already been unemployed for six months.

But in no event would I extend substantially accelerated tax depreciation for leasehold improvements of just retailing companies.  These retailers have been the main reason for the wholescale Income Inequality in the US and if the US Government rewarded them like this for paying their employees such meager amounts, then I think US citizens would be justified to hit the Streets in mass to protest this clear unjustice.  And any US Congressman, Republican or Democrat, who votes for extending this massive accelerated tax depreciation for leasehold improvements of retailers should be targeted by US citizens for defeat in the next election. 

Below here are the common stock market closing prices of each of these 161 Largest US Broad-based Manufacturing companies at both the most recent date January 3, 2014, 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

State Price Price Increase

HQs 1-3-14 1-16-09 (Decrease)





Broad-Based Manufacturing Companies




       
Dana Holding OH             19.20              0.69 2683%
Boise ID             12.54              0.46 2626%
KapStone Paper & Packaging IL             54.28              2.10 2485%
Tenneco IL             54.90              2.25 2340%
TRW Automotive MI             72.69              3.86 1783%
American Axle MI             19.54              1.41 1286%
PolyOne OH             35.00              2.60 1246%
Polaris Industries MN           144.62             11.90 1115%
Buckeye Technologies TN             37.49              3.48 977%
Graphic Packaging GA              9.39              0.88 967%
Dorman Products PA             54.72              5.29 934%
Middleby IL           249.89             24.77 909%
Clearwater Paper WA             52.52              5.25 900%
Ford Motor MI             15.51              2.19 608%
Sauer Danfoss IA             58.49              8.27 607%
Hexcel CT             44.49              6.91 544%
Tesla Motors CA           149.56             23.89 526%
Littlefuse IL             92.32             15.59 492%
Nacco Industries OH             62.21             10.52 491%
Borg Warner MI             54.89              9.45 481%
Cognex MA             38.10              6.66 473%
Entegris MA             11.44              2.00 472%
Wabco Holdings NJ             92.55             16.43 463%
Cymer CA           116.10             20.97 454%
Veeco Instruments NY             32.56              5.96 446%
Cummins IN           139.16             26.32 429%
Harley Davidson WI             68.91             13.70 403%
AO Smith WI             53.31             10.64 401%
TransDigm OH           160.91             32.97 388%
Precision Castparts OR           267.79             55.34 384%
Schweitzer-Mauduit GA             50.67             10.58 379%
Packaging Corp Amererica IL             62.97             13.33 372%
Flowserve TX             77.86             16.84 362%
Thor Industries OH             54.98             12.01 358%
Nordson OH             73.77             16.14 357%
PPG Industries PA           189.41             41.43 357%
Federal Mogul MI             19.62              4.30 356%
Cooper Tire & Rubber OH             24.79              5.45 355%
International Paper TN             48.62             10.89 346%
Generac Holdings WI             56.75             12.84 342%
Oshkosh WI             49.79             11.39 337%
Ingersoll-Rand NJ             61.32             14.37 327%
Rockwell Automation WI           117.83             28.57 312%
Meritor MI             10.04              2.50 302%
Worthington Industries OH             42.71             10.84 294%
Whirlpool MI           156.90             39.84 294%
Carlisle NC             78.40             19.94 293%
Crane CT             66.84             17.56 281%
Triumph Group PA             75.34             19.80 281%
Valspar MN             70.94             19.15 270%
Gentex MI             32.30              8.79 267%
Raven Industries SD             39.97             10.98 264%
Ametek PA             52.17             14.44 261%
Rock-Tenn GA           104.38             28.99 260%
Robbins & Meyers TX             59.99             16.81 257%
Acuity Brands GA           108.15             30.35 256%
Goodyear Tire & Rubber OH             23.37              6.71 248%
Mettler-Toledo OH           242.71             70.26 245%
Amphenol CT             88.06             25.53 245%
TE Connectivity PA             54.49             15.82 244%
MeadWestvaco VA             36.11             10.49 244%
Gardner Denver PA             75.99             22.90 232%
Hubbell CT           107.14             32.42 230%
CNH Global NV IL             49.96             15.13 230%
Dresser-Rand TX             58.92             17.90 229%
Carbo Ceramics TX           114.87             35.03 228%
Graco MN             76.99             23.75 224%
Boeing WA           137.62             42.46 224%
Pentair MN             76.63             23.75 223%
Parker Hannifin OH           127.25             39.77 220%
IDEX IL             73.12             22.88 220%
Carpenter Technology PA             62.04             19.47 219%
RPM Intl OH             41.48             13.15 215%
Timken OH             54.57             17.39 214%
Eaton OH             75.71             24.28 212%
Johnson Controls WI             50.52             16.21 212%
Pall Corp NY             84.01             27.19 209%
USG IL             29.10              9.47 207%
Dover IL             95.22             31.20 205%
Snap-On WI           108.76             35.81 204%
Lincoln Electric OH             70.47             23.29 203%
Armstrong World Industries PA             58.20             19.52 198%
Kennametal PA             51.99             17.57 196%
Weyerhauser WA             31.34             10.61 195%
Barnes Group CT             37.64             13.08 188%
Spirit AeroSystems KS             34.00             11.85 187%
Danaher DC             76.56             26.97 184%
Molex IL             38.68             13.77 181%
Lennox Intl TX             85.17             30.46 180%
Valmont Industries NE           148.22             53.09 179%
AGCO GA             58.50             20.96 179%
Spectrum Brands WI             70.74             25.45 178%
Terex CT             41.28             14.97 176%
Honeywell NJ             90.52             32.94 175%
Esterline Technologies WA           100.84             37.09 172%
Mueller Industries TN             62.34             23.20 169%
Donaldson MN             43.11             16.05 169%
Ball Corp CO             51.65             19.62 163%
NCR OH             33.98             13.34 155%
3M MN           138.45             54.42 154%
Ferro OH             12.36              4.89 153%
Owens Corning OH             40.68             16.17 152%
Kemet SC              6.07              2.44 149%
Watts Water Technologies MA             60.07             24.25 148%
SPX NC             99.06             40.84 143%
Illinois Tool Works IL             83.74             34.63 142%
Stanley Black & Decker CT             80.38             33.40 141%
Joy Global WI             55.68             23.17 140%
Herman Miller MI             29.58             12.33 140%
Sealed Air NJ             33.67             14.32 135%
Crown Holdings PA             44.32             18.87 135%
Sun Coke Energy TN             22.38              9.76 129%
Titanium Metals TX             16.50              7.24 128%
Deere IL             90.66             39.88 127%
Caterpillar IL             89.82             39.55 127%
Masco MI             23.16             10.36 124%
United Technologies CT           112.90             51.10 121%
Aptargroup IL             66.85             30.44 120%
Titan Intl IL             17.16              7.92 117%
MKS Instruments MA             30.18             14.04 115%
Rayonier FL             42.95             20.16 113%
Moog NY             66.95             31.54 112%
Actuant WI             36.25             17.16 111%
Regal-Beloit WI             73.64             34.88 111%
Woodward IL             44.90             21.33 111%
Paccar WA             58.63             27.88 110%
Silgan Holdings CT             48.38             23.08 110%
Sensata Technologies MA             38.17             18.50 106%
Emerson Electric MO             69.37             33.65 106%
Brooks Automation MA             10.52              5.22 102%
Clarcor TN             63.92             32.16 99%
OM Group OH             36.00             19.44 85%
ITT NY             43.45             23.60 84%
Commercial Metals TX             20.13             11.13 81%
AVX SC             13.68              7.69 78%
Curtiss-Wright NJ             60.72             34.47 76%
Sonoco Products SC             41.04             23.42 75%
Bemis WI             40.41             23.34 73%
Steel Dynamics IN             19.16             11.18 71%
Greif OH             52.16             30.97 68%
Avery Dennison CA             49.55             30.25 64%
Owens-Illinois OH             34.86             21.35 63%
McDermott Intl TX              8.94              5.73 56%
Hillenbrand IN             28.92             19.05 52%
Brady WI             31.35             21.31 47%
Plum Creek Timber WA             46.34             32.71 42%
Allegheny Technologies PA             35.47             26.34 35%
Navistar IL             37.75             28.47 33%
GrafTech OH             11.35              8.61 32%
Nucor NC             52.78             42.10 25%
Century Aluminum CA             10.35              8.49 22%
Axiall GA             46.15             38.25 21%
Diebold OH             32.69             27.21 20%
Matthews Intl PA             41.80             36.09 16%
Alcoa PA             10.57              9.43 12%
WMS Industries IL             25.98             24.58 6%
Harsco PA             27.98             26.94 4%
Pitney Bowes CT             23.85             25.06 -5%
US Steel PA             29.90             32.58 -8%
Schnitzer Steel OR             32.09             35.98 -11%
Itron WA             41.54             62.64 -34%





Average Increase for all 161


314%

To show just how widespread this stock market increase was, below is a breakdown of these 161 US Manufacturing Companies by Manufacturing Sector:




Market Market Percentage

State Price Price Increase

HQs 1-3-14 1-16-09 (Decrease)





Broad-Based Manufacturing Companies







Paper and Paper Products



Boise ID            12.54              0.46 2626%
Sealed Air NJ            33.67            14.32 135%
Bemis WI            40.41            23.34 73%
Avery Dennison CA            49.55            30.25 64%
Average % Increase all 4


725%





Motor Vehicles and Parts



Dana Holding OH             19.20              0.69 2683%
Tenneco IL             54.90              2.25 2340%
TRW Automotive MI             72.69              3.86 1783%
American Axle MI             19.54              1.41 1286%
Polaris Industries MN           144.62             11.90 1115%
Dorman Products PA             54.72              5.29 934%
Ford Motor MI             15.51              2.19 608%
Tesla Motors CA           149.56             23.89 526%
Nacco Industries OH             62.21             10.52 491%
Borg Warner MI             54.89              9.45 481%
Wabco Holdings NJ             92.55             16.43 463%
Harley Davidson WI             68.91             13.70 403%
Thor Industries OH             54.98             12.01 358%
Federal Mogul MI             19.62              4.30 356%
Cooper Tire & Rubber OH             24.79              5.45 355%
Oshkosh WI             49.79             11.39 337%
Meritor MI             10.04              2.50 302%
Gentex MI             32.30              8.79 267%
Goodyear Tire & Rubber OH             23.37              6.71 248%
Terex CT             41.28             14.97 176%
Paccar WA             58.63             27.88 110%
Clarcor TN             63.92             32.16 99%
Navistar IL             37.75             28.47 33%
Average % Increase all 23


685%





Forest and Forest Products



KapStone Paper & Packaging IL             54.28              2.10 2485%
Buckeye Technolnologies TN             37.49              3.48 977%
Clearwater Paper WA             52.52              5.25 900%
Schweitzer-Mauduit GA             50.67             10.58 379%
International Paper TN             48.62             10.89 346%
MeadWestvaco VA             36.11             10.49 244%
Weyerhauser WA             31.34             10.61 195%
Masco MI             23.16             10.36 124%
Rayonier FL             42.95             20.16 113%
Plum Creek Timber WA             46.34             32.71 42%
Average % Increase all 10


581%





Plastics



PolyOne OH            35.00              2.60 1246%
Hexcel CT            44.49              6.91 544%
Entegris MA            11.44              2.00 472%
Raven Industries SD            39.97            10.98 264%
Armstrong World Industries PA            58.20            19.52 198%
Aptargroup IL            66.85            30.44 120%
Axiall GA            46.15            38.25 21%
Average % Increase all 7


409%





Motors & Generators



AO Smith WI            53.31            10.64 401%
Generac Holdings WI            56.75            12.84 342%
Ametek PA            52.17            14.44 261%
Regal-Beloit WI            73.64            34.88 111%
Average % Increase all 4


279%





Aircraft and Parts



TransDigm OH           160.91             32.97 388%
Triumph Group PA             75.34             19.80 281%
Boeing WA           137.62             42.46 224%
Spirit AeroSystems KS             34.00             11.85 187%
Average % Increase all 4


270%





Pumps & Pumping Equipment



Flowserve TX            77.86            16.84 362%
Robbins & Meyers TX            59.99            16.81 257%
Graco MN            76.99            23.75 224%
IDEX IL            73.12            22.88 220%
Average % Increase all 4


266%





Paints



PPG Industries PA          189.41            41.43 357%
Valspar MN            70.94            19.15 270%
RPM Intl OH            41.48            13.15 215%
Ferro OH            12.36              4.89 153%
Average % Increase all 4


249%





Packaging and Containers



Graphic Packaging GA              9.39              0.88 967%
Packaging Corp Amererica IL            62.97            13.33 372%
Rock-Tenn GA          104.38            28.99 260%
Ball Corp CO            51.65            19.62 163%
Crown Holdings PA            44.32            18.87 135%
Silgan Holdings CT            48.38            23.08 110%
Sonoco Products SC            41.04            23.42 75%
Greif OH            52.16            30.97 68%
Owens-Illinois OH            34.86            21.35 63%
Average % Increase all 9


246%





Miscellaneous Large Manufacturing



Cummins IN          139.16            26.32 429%
Ingersoll-Rand NJ             61.32             14.37 327%
TE Connectivity PA             54.49             15.82 244%
Johnson Controls WI             50.52             16.21 212%
Honeywell NJ             90.52             32.94 175%
3M MN           138.45             54.42 154%
United Technologies CT           112.90             51.10 121%
Average % Increase all 7


237%





Farm & Construction Equipment



Sauer Danfoss IA            58.49              8.27 607%
CNH Global NV IL            49.96            15.13 230%
Dover IL            95.22            31.20 205%
AGCO GA            58.50            20.96 179%
Joy Global WI            55.68            23.17 140%
Deere IL            90.66            39.88 127%
Caterpillar IL            89.82            39.55 127%
Average % Increase all 7


231%





Industrial Machinery



Cymer CA          116.10            20.97 454%
Veeco Instruments NY            32.56              5.96 446%
Nordson OH            73.77            16.14 357%
Gardner Denver PA            75.99            22.90 232%
Eaton OH            75.71            24.28 212%
Pall Corp NY            84.01            27.19 209%
SPX NC            99.06            40.84 143%
Illinois Tool Works IL            83.74            34.63 142%
Actuant WI            36.25            17.16 111%
Brooks Automation MA            10.52              5.22 102%
Curtiss-Wright NJ            60.72            34.47 76%
Average % Increase all 11


226%





Electronic/Electrical Equipment & Products

Littlefuse IL            92.32            15.59 492%
Rockwell Automation WI          117.83            28.57 312%
Whirlpool MI          156.90            39.84 294%
Acuity Brands GA          108.15            30.35 256%
Amphenol CT            88.06            25.53 245%
Hubbell CT          107.14            32.42 230%
Lincoln Electric OH            70.47            23.29 203%
Molex IL            38.68            13.77 181%
Lennox Intl TX            85.17            30.46 180%
Spectrum Brands WI            70.74            25.45 178%
Donaldson MN            43.11            16.05 169%
Kemet SC              6.07              2.44 149%
Woodward IL            44.90            21.33 111%
Emerson Electric MO            69.37            33.65 106%
AVX SC            13.68              7.69 78%
GrafTech OH            11.35              8.61 32%
Average % Increase all 16


201%





Miscellaneous Manufacturing



Middleby IL          249.89            24.77 909%
Carlisle NC            78.40            19.94 293%
Dresser-Rand TX            58.92            17.90 229%
Carbo Ceramics TX          114.87            35.03 228%
Pentair MN            76.63            23.75 223%
USG IL            29.10              9.47 207%
Snap-On WI          108.76            35.81 204%
Owens Corning OH            40.68            16.17 152%
Stanley Black & Decker CT             80.38             33.40 141%
Moog NY             66.95             31.54 112%
ITT NY             43.45             23.60 84%
Hillenbrand IN            28.92            19.05 52%
Brady WI             31.35             21.31 47%
Matthews Intl PA            41.80            36.09 16%
WMS Industries IL            25.98            24.58 6%
Average % Increase all 15


193%





Industrial Instruments



Cognex MA            38.10              6.66 473%
Mettler-Toledo OH           242.71             70.26 245%
Danaher DC            76.56            26.97 184%
Esterline Technologies WA          100.84            37.09 172%
MKS Instruments MA            30.18            14.04 115%
Sensata Technologies MA            38.17            18.50 106%
Itron WA            41.54            62.64 -34%
Average % Increase all 7


180%





Metals



Precision Castparts OR          267.79            55.34 384%
Worthington Industries OH            42.71            10.84 294%
Crane CT            66.84            17.56 281%
Parker Hannifin OH          127.25            39.77 220%
Carpenter Technology PA            62.04            19.47 219%
Timken OH            54.57            17.39 214%
Kennametal PA            51.99            17.57 196%
Barnes Group CT            37.64            13.08 188%
Valmont Industries NE          148.22            53.09 179%
Mueller Industries TN            62.34            23.20 169%
Watts Water Technologies MA            60.07            24.25 148%
Sun Coke Energy TN            22.38              9.76 129%
Titanium Metals TX            16.50              7.24 128%
Titan Intl IL            17.16              7.92 117%
OM Group OH            36.00            19.44 85%
Commercial Metals TX            20.13            11.13 81%
Steel Dynamics IN            19.16            11.18 71%
McDermott Intl TX              8.94              5.73 56%
Allegheny Technologies PA            35.47            26.34 35%
Nucor NC            52.78            42.10 25%
Century Aluminum CA            10.35              8.49 22%
Alcoa PA            10.57              9.43 12%
Harsco PA            27.98            26.94 4%
US Steel PA            29.90            32.58 -8%
Schnitzer Steel OR            32.09            35.98 -11%
Average % Increase all 25


129%





Office Equipment & Furniture



NCR OH            33.98            13.34 155%
Herman Miller MI            29.58            12.33 140%
Diebold OH            32.69            27.21 20%
Pitney Bowes CT            23.85            25.06 -5%
Average % Increase all 4


77%