Thursday, February 5, 2015

Indiana Companies Stock Market Prices Up 944% Since March 6, 2009

Since President Obama is visiting Indianapolis tomorrow, Friday February 6, 2015, I think it might be helpful to give an update on what has been going on with Indiana-headquartered Companies and with the Indiana economy.

I found 38 Indiana Headquartered Companies in the superb Google Finance website and from SEC filings with current Total Market Capitalizations of at least $100 mil and which also had their common stocks trading on each of the following three dates:
  • On December 31, 2007 before the financial meltdown hit
  • On March 6, 2009, which was the lowest point for the US stock market due to the spillover effects resulting from the 2008 financial meltdown, and 
  • also on the most recent date February 5, 2015.
I also included one Indiana Company which was sold just very recently in December 2014.  That makes 39 Indiana Companies shown below.  I excluded Jasper-based Kimball International because it effectuated a corporate spin off on October 31, 2014.

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

These 39 Indiana Companies had their equal-company weighted average stock market prices decline by a massive 57% from December 31, 2007 before the 2008 Financial Meltdown hit to March 6, 2009, which was the very lowest point for the overall stock market due to the spillover effects resulting from the disastrous 2008 Financial Meltdown.

But in the five years and eleven months since March 6, 2009, the average stock market prices of these same 39 Indiana Companies have increased by a phenomenally off-the-charts 944% through February 5, 2015, led mainly by Patrick Industries' stock market price up a massive 131 times, Remy Intl up 44 times, CNO Financial up 43 times,  and Escalade up 38 times, all in the most recent five years and eleven months.

This 944% Indiana Companies average stock market price increase was the highest of that in all US States.

There has been something nearly miraculous happening with Indiana Companies Stock Market Prices in the most recent five years and eleven months, and among others, President Obama, Ben Bernanke, Janet Yellen, Indiana Governors Mitch Daniels and Mike Pence, Indiana mayors, all Indiana members in the US Congress as well as all members of the Indiana State Legislature have all undoubtedly helped here. 

Below here are the stock market prices of each of these 39 Indiana Companies on February 5, 2015, on March 6, 2009, and on December 31, 2007, along with the related Stock Market Price Percentage Changes:





Market Market Market






Price Price Price






% % %






Change Change Change


Market Market Market 3-6-09 12-31-07 12-31-07


Price Price Price to to to
Indiana Company HQs 2-5-15 3-6-09 12-31-07 2-5-15 3-6-09 2-5-15


$s $s $s










Patrick Industries Elkhart  IN       45.03        0.34        9.96 13067% -97% 352%
Remy Intl Pendleton  IN       22.61        0.50      31.50 4422% -98% -28%
CNO Financial Group Carmel  IN       16.60        0.38      12.56 4268% -97% 32%
Escalade Evansville  IN       15.93        0.41        9.13 3785% -96% 74%
Wabash National Lafayette  IN       13.57        0.95        7.69 1328% -88% 76%
Supreme Industries Goshen  IN         7.79        0.73        5.06 962% -86% 54%
Simon Property Group Indianapolis  IN      203.22      26.19      86.86 676% -70% 134%
CTS Corp Elkhart  IN       16.93        2.26        9.93 649% -77% 70%
Cummins Columbus  IN      138.11      19.34      63.69 614% -70% 117%
Mutualfirst Financial Muncie  IN       24.00        4.10      13.94 485% -71% 72%
Shoe Carnival Evansville  IN       24.52        4.31        9.41 468% -54% 161%
Thor Industries Elkhart  IN       59.02      10.47      38.01 464% -72% 55%
Finish Line Indianapolis  IN       24.30        4.51        2.42 439% 86% 904%
Interactive Intelligence Group Indianapolis  IN       43.33        8.33      26.35 420% -68% 64%
Celadon Group Indianapolis  IN       24.47        4.75        9.16 415% -48% 167%
Hill-Rom Holdings Batesville  IN       46.74        9.34      29.96 400% -69% 56%
Duke Realty Indianapolis  IN       22.15        4.48      26.08 394% -83% -15%
Horizon Bancorp Michigan City  IN       23.20        4.98      11.40 366% -56% 104%
Anthem Indianapolis  IN      137.23      31.41      87.73 337% -64% 56%
Hurco Companies Indianapolis  IN       36.82        9.21      43.65 300% -79% -16%
Franklin Electric Fort Wayne  IN       35.02        9.00      19.14 289% -53% 83%
Mainsource Financial Group Greensburg  IN       19.60        5.42      15.56 262% -65% 26%
Zimmer Holdings Warsaw  IN      117.10      32.66      66.15 259% -51% 77%
Haynes Intl Kokomo  IN       40.19      11.35      69.50 254% -84% -42%
First Merchants Muncie  IN       22.93        7.76      21.84 195% -64% 5%
German American Bancorp Jasper  IN       28.95      10.51      12.74 175% -18% 127%
Lakeland Financial Warsaw  IN       40.11      15.02      20.90 167% -28% 92%
Calumet Specialty Product Partners LP Indianapolis  IN       24.82        9.45      37.03 163% -74% -33%
Kite Realty Group Trust Indianapolis  IN       30.56      11.72      61.08 161% -81% -50%
Eli Lilly Indianapolis  IN       71.41      27.98      53.39 155% -48% 34%
Republic Airways Indianapolis  IN       13.61        5.45      19.59 150% -72% -31%
Steel Dynamics Fort Wayne  IN       19.04        7.89      29.79 141% -74% -36%
Symmetry Medical Warsaw  IN         9.27        4.41      17.43 110% -75% -47%
1st Source South Bend  IN       31.36      15.16      17.31 107% -12% 81%
Old National Bancorp Evansville  IN       13.74        9.30      14.96 48% -38% -8%
Baldwin & Lyons Indianapolis  IN       23.43      19.03      27.46 23% -31% -15%
First Financial Bancorp Terre Haute  IN       34.40      31.68      28.34 9% 12% 21%
hhgregg Indianapolis  IN         6.25      10.33      13.76 -39% -25% -55%
ITT Educational Services Carmel  IN         7.84     101.37      85.27 -92% 19% -91%









Average % Change all 39 Indiana Companies



944% -57% 67%

When I stratify the above 39 Indiana Companies by City Metro Area, the South Bend Area rules in Indiana with a Company average stock market price increase from March 6, 2009 to February 5, 2015 of a staggering 3,050%, followed in second by Evansville's 1,434%.

In many other US States, by far the largest city in a State usually rules in having by far the highest Company average stock market price increase such as is clearly the case of Detroit in Michigan, Chicago in Illinois, Atlanta in Georgia and Dallas in Texas.  But this is not the case in Indiana where the 15 Companies in the Indianapolis Metro Area had an average stock market price increase from March 6, 2009 to February 5, 2015 of a very impressive 518%, but which is substantially lower than the State average of 944%.

Below here are the above 39 Indiana Companies broken down by City Metro Area:






Market Market Market






Price Price Price






% % %






Change Change Change


Market Market Market 3-6-09 12-31-07 12-31-07


Price Price Price to to to
Indiana Company HQs 2-5-15 3-6-09 12-31-07 2-5-15 3-6-09 2-5-15

$s $s $s


South Bend Area (5)







Patrick Industries Elkhart  IN       45.03        0.34        9.96 13067% -97% 352%
Supreme Industries Goshen  IN         7.79        0.73        5.06 962% -86% 54%
CTS Corp Elkhart  IN       16.93        2.26        9.93 649% -77% 70%
Thor Industries Elkhart  IN       59.02      10.47      38.01 464% -72% 55%
1st Source South Bend  IN       31.36      15.16      17.31 107% -12% 81%
…Average % Change




3050%










Evansville (3)







Escalade Evansville  IN       15.93        0.41        9.13 3785% -96% 74%
Shoe Carnival Evansville  IN       24.52        4.31        9.41 468% -54% 161%
Old National Bancorp Evansville  IN       13.74        9.30      14.96 48% -38% -8%
…Average % Change




1434%










Indianapolis Area (15)







CNO Financial Group Carmel  IN       16.60        0.38      12.56 4268% -97% 32%
Simon Property Group Indianapolis  IN      203.22      26.19      86.86 676% -70% 134%
Finish Line Indianapolis  IN       24.30        4.51        2.42 439% 86% 904%
Interactive Intelligence Group Indianapolis  IN       43.33        8.33      26.35 420% -68% 64%
Celadon Group Indianapolis  IN       24.47        4.75        9.16 415% -48% 167%
Duke Realty Indianapolis  IN       22.15        4.48      26.08 394% -83% -15%
Anthem Indianapolis  IN      137.23      31.41      87.73 337% -64% 56%
Hurco Companies Indianapolis  IN       36.82        9.21      43.65 300% -79% -16%
Calumet Specialty Product Partners LP Indianapolis  IN       24.82        9.45      37.03 163% -74% -33%
Kite Realty Group Trust Indianapolis  IN       30.56      11.72      61.08 161% -81% -50%
Eli Lilly Indianapolis  IN       71.41      27.98      53.39 155% -48% 34%
Republic Airways Indianapolis  IN       13.61        5.45      19.59 150% -72% -31%
Baldwin & Lyons Indianapolis  IN       23.43      19.03      27.46 23% -31% -15%
hhgregg Indianapolis  IN         6.25      10.33      13.76 -39% -25% -55%
ITT Educational Services Carmel  IN         7.84     101.37      85.27 -92% 19% -91%
Average % Change




518%










Muncie (2)







Mutualfirst Financial Muncie  IN       24.00        4.10      13.94 485% -71% 72%
First Merchants Muncie  IN       22.93        7.76      21.84 195% -64% 5%
…Average % Change




340%










Fort Wayne (2)







Franklin Electric Fort Wayne  IN       35.02        9.00      19.14 289% -53% 83%
Steel Dynamics Fort Wayne  IN       19.04        7.89      29.79 141% -74% -36%
Average % Change




215%










Warsaw (3)







Zimmer Holdings Warsaw  IN      117.10      32.66      66.15 259% -51% 77%
Lakeland Financial Warsaw  IN       40.11      15.02      20.90 167% -28% 92%
Symmetry Medical Warsaw  IN         9.27        4.41      17.43 110% -75% -47%
Average % Change




179%










Rest of Indiana (9)







Remy Intl Pendleton  IN       22.61        0.50      31.50 4422% -98% -28%
Wabash National Lafayette  IN       13.57        0.95        7.69 1328% -88% 76%
Cummins Columbus  IN      138.11      19.34      63.69 614% -70% 117%
Hill-Rom Holdings Batesville  IN       46.74        9.34      29.96 400% -69% 56%
Horizon Bancorp Michigan City  IN       23.20        4.98      11.40 366% -56% 104%
Mainsource Financial Group Greensburg  IN       19.60        5.42      15.56 262% -65% 26%
Haynes Intl Kokomo  IN       40.19      11.35      69.50 254% -84% -42%
German American Bancorp Jasper  IN       28.95      10.51      12.74 175% -18% 127%
First Financial Bancorp Terre Haute  IN       34.40      31.68      28.34 9% 12% 21%
Average % Change

      

870%


In addition to the above 39 Indiana Companies, there have been 9 additional Indiana Companies filing Initial Public Offerings since the beginning of 2009.  All 9 have current stock market capitalization above $200 mil.

These 9 Indiana IPOs since 2009 have experienced an average stock market increase over the short period of time their common stocks have traded from their Initial Offering Price to February 5, 2015 of an impressive 89%.

The 3 Evansville, Ind Area Company IPOs since the beginning of 2009 have all had their stock market prices double, with an average price increase of an exceptional 180%.  The Total Stock Market Capitalization of these 3 Evansville IPOs is now an extremely robust $28.230 bil.

The 4 Indianapolis IPOs since 2009 have had an average stock market price growth of very solid 62%.  The Total Stock Market Capitalization of these 4 Indianapolis Area IPOs is now a very robust $13.509 bil.

Below here is key information related to these 9 Indiana IPO:
 







%








Market








Price






2-5-15
Change






Stock Initial From
IPO
City State

Market Offering Offering Market
Date Indiana Corp IPOs since 2009 HQs
Sector Industry Price Price Price Cap









$mils

Evansville







2/10/09 Mead Johnson Nutrition  Evansville IN Consumer Goods Processed & Packaged Goods $100.11 $24.00 317%   20,220
10/4/12 Berry Plastics Group   Evansville IN Consumer Goods Rubber & Plastics $34.88 $16.00 118%     4,030
10/16/13 Springleaf Holdings   Evansville IN Financial Credit Services $34.68 $17.00 104%     3,980

Average % Change all 3 Evansville




180%   28,230











Indianapolis Area







12/11/09 KAR Holdings  Carmel IN Services Specialty retail $34.81 $12.00 190%     4,930
3/22/12 ExactTarget   Indianapolis IN Technology Application Software $33.75 $19.00 78%     2,500
3/15/12 Allison Transmission Holdings  Indianapolis IN Consumer Goods Auto Parts $32.41 $23.00 41%     5,790
11/17/11 Angie’s List   Indianapolis IN Technology Internet Software & Services $5.05 $13.00 -61%        289

Average % Change all 4 Indianapolis




62%   13,509











Fort Wayne







10/21/10 Vera Bradley  Fort Wayne IN Consumer Goods Textile-Apparel Accessories $19.72 $16.00 23%        797











West Lafayette







2/4/11 Endocyte  West Lafayette IN Healthcare Biotechnology $5.25 $6.00 -13%        228











Average Market Price % Change all 9 IPOs in Indiana


89%


On the Indiana Company Audited Earnings front, here is some very recent research on that which shows that Indiana Companies have increased their Total Audited Earnings by an incredible 2,486% from 2008 to 2013.

Indiana Companies Audited Earnings in 2013 Up 2,486% From 2008

On the unemployment front, from the US Bureau of Labor Statistics, the Indiana unemployment rate has dropped precipitously going from 10.8% in June 2009 to 5.8% in the most recently reported December 2014.  The Indianapolis-Carmel Metro Area has a December 2014 unemployment rate of an even lower 5.3%.

On the Indiana Housing front, CoreLogic reported that the percentage of Indiana homes which have negative equity has declined from 11.0% of them in June 2010 to 4.7% of them in the most recently reported September 2014.