Thus, as a backdrop for this upcoming speech and continuing a much deserved tribute to Bernanke's key role in helping the US avoid a Deep, Prolonged Financial Depression, I think it would be helpful to update just what has been going on with Stock Market Prices for Companies in each US State since March 6, 2009, the lowest point for the overall US Stock Market resulting from the aftershocks of the horrific late 2008 US Financial Meltdown, through the most recent date March 17, 2015......a roughly six year period of time.
Long-term Audited Earnings From Continuing Operations Under US Generally Accepted Accounting Principles (GAAP) drive Long-Term Changes in Stock Market Prices. These Company Earnings crashed with the late 2008 US Financial Meltdown and thus the linked Stock Market Prices of the related Companies also crashed.
But since the 2008 US Financial Meltdown, these Earnings have been consistently exceptional and thus the Stock Market Prices of the related Companies have also consistently exploded upwardly in the past six years.
This is the dilemma faced by the current US Fed ..... raise US interest rates or continue former US Fed Chair Ben Bernanke's economic policies which have continued to spur Company Earnings and thus also Company Stock Market Prices.
I think the current US Fed should tweak Bernanke's economic policies some to try to more effectively deal with income and wealth inequality, but why in the world would you want to alter them significantly since they have been so incredibly successful?
And the US Congress, and frankly also US Companies, just have to do a much better job addressing income and wealth inequality.
Indiana Companies stock market prices have been on absolute fire in the past 4 1/2 months. They experienced spectacularly off-the-charts average stock market price growth of 1,012% for the 6 years since March 6, 2009 through the most recent date March 17, 2015. This average growth since March 6, 2009 was a substantially lower but still fantastic 821% only 4 1/2 months ago.
So, Indiana Companies' clearly off-the-charts 1,012% average stock market price appreciation for the past 6 years tops Companies in all other US States, with Michigan Companies 926% average growth being the second highest.
Leading this Indiana charge is Elkhart-based Patrick Industries, which has seen its stock market price appreciate by a massive 176 times in the most recent 6 years.
Below here are the 42 Indiana Headquartered Companies with Stock Market Caps now above $100 mil and which have had their common stocks trading from December 31, 2007, or early in 2008 for companies first going public then, through the most recent date March 16, 2015, or the date the Companies were spun off or sold, if they were spun off or sold since the beginning of 2014.
| 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 | 3-17-15 | 3-6-09 | 12-31-07 | 3-17-15 | 3-6-09 | 3-17-15 | |
| $s | $s | $s | ||||||
| Patrick Industries | Elkhart | IN | 60.65 | 0.34 | 9.96 | 17634% | -97% | 509% |
| CNO Financial Group | Carmel | IN | 17.40 | 0.38 | 12.56 | 4479% | -97% | 39% |
| Remy Intl | Pendleton | IN | 22.80 | 0.50 | 31.50 | 4460% | -98% | -28% |
| Escalade | Evansville | IN | 16.04 | 0.41 | 9.13 | 3812% | -96% | 76% |
| Wabash National | Lafayette | IN | 14.65 | 0.95 | 7.69 | 1442% | -88% | 91% |
| Supreme Industries | Goshen | IN | 8.09 | 0.73 | 5.06 | 1003% | -86% | 60% |
| CTS Corp | Elkhart | IN | 17.95 | 2.26 | 9.93 | 694% | -77% | 81% |
| Cummins | Columbus | IN | 138.70 | 19.34 | 63.69 | 617% | -70% | 118% |
| Simon Property Group | Indianapolis | IN | 186.13 | 26.19 | 86.86 | 611% | -70% | 114% |
| Thor Industries | Elkhart | IN | 62.28 | 10.47 | 38.01 | 495% | -72% | 64% |
| Mutualfirst Financial | Muncie | IN | 23.65 | 4.10 | 13.94 | 477% | -71% | 70% |
| Celadon Group | Indianapolis | IN | 26.55 | 4.75 | 9.16 | 459% | -48% | 190% |
| Shoe Carnival | Evansville | IN | 23.99 | 4.31 | 9.41 | 456% | -54% | 155% |
| Finish Line | Indianapolis | IN | 23.46 | 4.51 | 2.42 | 420% | 86% | 869% |
| Hill-Rom Holdings | Batesville | IN | 48.16 | 9.34 | 29.96 | 416% | -69% | 61% |
| Tower Financial | Fort Wayne | IN | 23.54 | 4.75 | 13.00 | 396% | -63% | 81% |
| Interactive Intelligence Group | Indianapolis | IN | 40.83 | 8.33 | 26.35 | 390% | -68% | 55% |
| Anthem | Indianapolis | IN | 153.30 | 31.41 | 87.73 | 388% | -64% | 75% |
| Horizon Bancorp | Michigan City | IN | 23.83 | 4.98 | 11.40 | 379% | -56% | 109% |
| Duke Realty | Indianapolis | IN | 21.20 | 4.48 | 26.08 | 373% | -83% | -19% |
| Franklin Electric | Fort Wayne | IN | 38.06 | 9.00 | 19.14 | 323% | -53% | 99% |
| Haynes Intl | Kokomo | IN | 42.03 | 11.35 | 69.50 | 270% | -84% | -40% |
| Mainsource Financial Group | Greensburg | IN | 19.68 | 5.42 | 15.56 | 263% | -65% | 26% |
| Zimmer Holdings | Warsaw | IN | 115.28 | 32.66 | 66.15 | 253% | -51% | 74% |
| Hurco Companies | Indianapolis | IN | 29.90 | 9.21 | 43.65 | 225% | -79% | -32% |
| Kimball Intl | Jasper | IN | 17.98 | 5.81 | 13.70 | 209% | -58% | 31% |
| First Merchants | Muncie | IN | 23.84 | 7.76 | 21.84 | 207% | -64% | 9% |
| German American Bancorp | Jasper | IN | 29.52 | 10.51 | 12.74 | 181% | -18% | 132% |
| Lakeland Financial | Warsaw | IN | 41.42 | 15.02 | 20.90 | 176% | -28% | 98% |
| Republic Airways | Indianapolis | IN | 14.52 | 5.45 | 19.59 | 166% | -72% | -26% |
| Calumet Specialty Product Partners LP | Indianapolis | IN | 24.84 | 9.45 | 37.03 | 163% | -74% | -33% |
| Eli Lilly | Indianapolis | IN | 70.84 | 27.98 | 53.39 | 153% | -48% | 33% |
| Steel Dynamics | Fort Wayne | IN | 18.63 | 7.89 | 29.79 | 136% | -74% | -37% |
| Kite Realty Group Trust | Indianapolis | IN | 27.27 | 11.72 | 61.08 | 133% | -81% | -55% |
| 1st Source | South Bend | IN | 32.31 | 15.16 | 17.31 | 113% | -12% | 87% |
| Symmetry Medical | Warsaw | IN | 9.27 | 4.41 | 17.43 | 110% | -75% | -47% |
| Hillenbrand | Batesville | IN | 29.74 | 16.05 | 18.00 | 85% | -11% | 65% |
| Old National Bancorp | Evansville | IN | 14.39 | 9.30 | 14.96 | 55% | -38% | -4% |
| Baldwin & Lyons | Indianapolis | IN | 23.46 | 19.03 | 27.46 | 23% | -31% | -15% |
| First Financial Bancorp | Terre Haute | IN | 35.41 | 31.68 | 28.34 | 12% | 12% | 25% |
| hhgregg | Indianapolis | IN | 5.87 | 10.33 | 13.76 | -43% | -25% | -57% |
| ITT Educational Services | Carmel | IN | 7.18 | 101.37 | 85.27 | -93% | 19% | -92% |
| Average % Change all 42 Indiana Companies | 1,012% | -56% | 72% | |||||
When I stratify the above 42 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 March 17, 2015 of a staggering 3,988%, followed in second by Evansville's 1,441%, and in third by Indianapolis' 523%.
Below here are the above 42 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 | 3-17-15 | 3-6-09 | 12-31-07 | 3-17-15 | 3-6-09 | 3-17-15 | |
| $s | $s | $s | ||||||
| South Bend Area (5) | ||||||||
| Patrick Industries | Elkhart | IN | 60.65 | 0.34 | 9.96 | 17634% | -97% | 509% |
| Supreme Industries | Goshen | IN | 8.09 | 0.73 | 5.06 | 1003% | -86% | 60% |
| CTS Corp | Elkhart | IN | 17.95 | 2.26 | 9.93 | 694% | -77% | 81% |
| Thor Industries | Elkhart | IN | 62.28 | 10.47 | 38.01 | 495% | -72% | 64% |
| 1st Source | South Bend | IN | 32.31 | 15.16 | 17.31 | 113% | -12% | 87% |
| …Average % Change | 3988% | |||||||
| Evansville (3) | ||||||||
| Escalade | Evansville | IN | 16.04 | 0.41 | 9.13 | 3812% | -96% | 76% |
| Shoe Carnival | Evansville | IN | 23.99 | 4.31 | 9.41 | 456% | -54% | 155% |
| Old National Bancorp | Evansville | IN | 14.39 | 9.30 | 14.96 | 55% | -38% | -4% |
| …Average % Change | 1441% | |||||||
| Indianapolis Area (15) | ||||||||
| CNO Financial Group | Carmel | IN | 17.40 | 0.38 | 12.56 | 4479% | -97% | 39% |
| Simon Property Group | Indianapolis | IN | 186.13 | 26.19 | 86.86 | 611% | -70% | 114% |
| Celadon Group | Indianapolis | IN | 26.55 | 4.75 | 9.16 | 459% | -48% | 190% |
| Finish Line | Indianapolis | IN | 23.46 | 4.51 | 2.42 | 420% | 86% | 869% |
| Interactive Intelligence Group | Indianapolis | IN | 40.83 | 8.33 | 26.35 | 390% | -68% | 55% |
| Anthem | Indianapolis | IN | 153.30 | 31.41 | 87.73 | 388% | -64% | 75% |
| Duke Realty | Indianapolis | IN | 21.20 | 4.48 | 26.08 | 373% | -83% | -19% |
| Hurco Companies | Indianapolis | IN | 29.90 | 9.21 | 43.65 | 225% | -79% | -32% |
| Republic Airways | Indianapolis | IN | 14.52 | 5.45 | 19.59 | 166% | -72% | -26% |
| Calumet Specialty Product Partners LP | Indianapolis | IN | 24.84 | 9.45 | 37.03 | 163% | -74% | -33% |
| Eli Lilly | Indianapolis | IN | 70.84 | 27.98 | 53.39 | 153% | -48% | 33% |
| Kite Realty Group Trust | Indianapolis | IN | 27.27 | 11.72 | 61.08 | 133% | -81% | -55% |
| Baldwin & Lyons | Indianapolis | IN | 23.46 | 19.03 | 27.46 | 23% | -31% | -15% |
| hhgregg | Indianapolis | IN | 5.87 | 10.33 | 13.76 | -43% | -25% | -57% |
| ITT Educational Services | Carmel | IN | 7.18 | 101.37 | 85.27 | -93% | 19% | -92% |
| …Average % Change | 523% | |||||||
| Muncie (2) | ||||||||
| Mutualfirst Financial | Muncie | IN | 23.65 | 4.10 | 13.94 | 477% | -71% | 70% |
| First Merchants | Muncie | IN | 23.84 | 7.76 | 21.84 | 207% | -64% | 9% |
| …Average % Change | 342% | |||||||
| Fort Wayne (3) | ||||||||
| Tower Financial | Fort Wayne | IN | 23.54 | 4.75 | 13.00 | 396% | -63% | 81% |
| Franklin Electric | Fort Wayne | IN | 38.06 | 9.00 | 19.14 | 323% | -53% | 99% |
| Steel Dynamics | Fort Wayne | IN | 18.63 | 7.89 | 29.79 | 136% | -74% | -37% |
| …Average % Change | 285% | |||||||
| Batesville (2) | ||||||||
| Hill-Rom Holdings | Batesville | IN | 48.16 | 9.34 | 29.96 | 416% | -69% | 61% |
| Hillenbrand | Batesville | IN | 29.74 | 16.05 | 18.00 | 85% | -11% | 65% |
| …Average % Change | 250% | |||||||
| Jasper (2) | ||||||||
| Kimball Intl | Jasper | IN | 17.98 | 5.81 | 13.70 | 209% | -58% | 31% |
| German American Bancorp | Jasper | IN | 29.52 | 10.51 | 12.74 | 181% | -18% | 132% |
| …Average % Change | 195% | |||||||
| Warsaw (3) | ||||||||
| Zimmer Holdings | Warsaw | IN | 115.28 | 32.66 | 66.15 | 253% | -51% | 74% |
| Lakeland Financial | Warsaw | IN | 41.42 | 15.02 | 20.90 | 176% | -28% | 98% |
| Symmetry Medical | Warsaw | IN | 9.27 | 4.41 | 17.43 | 110% | -75% | -47% |
| …Average % Change | 180% | |||||||
| Rest of Indiana (7) | ||||||||
| Remy Intl | Pendleton | IN | 22.80 | 0.50 | 31.50 | 4460% | -98% | -28% |
| Wabash National | Lafayette | IN | 14.65 | 0.95 | 7.69 | 1442% | -88% | 91% |
| Cummins | Columbus | IN | 138.70 | 19.34 | 63.69 | 617% | -70% | 118% |
| Horizon Bancorp | Michigan City | IN | 23.83 | 4.98 | 11.40 | 379% | -56% | 109% |
| Haynes Intl | Kokomo | IN | 42.03 | 11.35 | 69.50 | 270% | -84% | -40% |
| Mainsource Financial Group | Greensburg | IN | 19.68 | 5.42 | 15.56 | 263% | -65% | 26% |
| First Financial Bancorp | Terre Haute | IN | 35.41 | 31.68 | 28.34 | 12% | 12% | 25% |
| …Average % Change | 1063% |
In addition to the above 42 Indiana Companies, there have been 9 additional Indiana Companies filing Initial Public Offerings since the beginning of 2009. All 9 have current stock market capitalizations above $200 mil.
These 9 Indiana IPOs since 2009 have experienced an average stock market price increase over the short period of time their common stocks have traded from their Initial Offering Price to March 17, 2015 of a very impressive 103%.
The 3 Evansville, Ind Area Company IPOs since the beginning of 2009 have all had their stock market prices more than double, with an average price increase of an exceptional 217%. The Total Stock Market Capitalization of these 3 Evansville IPOs is now an extremely robust $30.550 bil.
The 4 Indianapolis IPOs since 2009 have had an average stock market price growth of very solid 68%. The Total Stock Market Capitalization of these 4 Indianapolis Area IPOs is now a very robust $13.816 bil.
Below here is key information related to these 9 Indiana IPO:
| % | |||||||||
| Market | |||||||||
| Price | |||||||||
| 3-17-15 | 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 | $99.99 | $24.00 | 317% | 20,200 |
| 10/16/13 | Springleaf Holdings | Evansville | IN | Financial | Credit Services | $52.93 | $17.00 | 211% | 6,090 |
| 10/4/12 | Berry Plastics Group | Evansville | IN | Consumer Goods | Rubber & Plastics | $35.80 | $16.00 | 124% | 4,260 |
| Average % Change all 3 Evansville | 217% | 30,550 | |||||||
| Indianapolis Area | |||||||||
| 12/11/09 | KAR Holdings | Carmel | IN | Services | Specialty retail | $37.02 | $12.00 | 209% | 5,230 |
| 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 | $31.74 | $23.00 | 38% | 5,710 |
| 11/17/11 | Angie’s List | Indianapolis | IN | Technology | Internet Software & Services | $6.43 | $13.00 | -51% | 376 |
| Average % Change all 4 Indianapolis | 68% | 13,816 | |||||||
| Fort Wayne | |||||||||
| 10/21/10 | Vera Bradley | Fort Wayne | IN | Consumer Goods | Textile-Apparel Accessories | $15.47 | $16.00 | -3% | 624 |
| West Lafayette | |||||||||
| 2/4/11 | Endocyte | West Lafayette | IN | Healthcare | Biotechnology | $6.07 | $6.00 | 1% | 254 |
| Average Market Price % Change all 9 IPOs in Indiana | 103% | ||||||||
On the Indiana Company Audited Earnings front, here is some 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 2013 Audited Earnings Up 2,486% Over 2008
