Five years later
The recovery of Iowa’s publicly traded companies
Friday, January 17, 2014 8:00 AM
2013 was a record-breaking year for the stock market. And many of Iowa’s 20 publicly traded companies had tremendous years in their own right.
Alas, that wasn’t the case just five years ago in January 2009, when the market was falling fast toward its eventual historical low on March 9, 2009.
Our columnist Dave Elbert suggested that we take a look at how Iowa’s companies have rebounded in the five years since that unsettling winter. So, we compiled the stock prices from the first day of trading of each year beginning with Jan. 2, 2009, and ending with Jan. 2, 2014.
An unweighted average shows that the value of the 20 Iowa-based companies increased 87 percent since Jan. 2, 2009. The average price increased $14.70 over that period, from $16.87 to $31.57. Much of that gain came in 2013, during which the average increased $7.46, or 31 percent. All but two companies increased their stock prices from 2009.
By comparison, the Nasdaq composite index and Dow Jones industrial average (both of which are weighted) increased 154 percent and 82 percent, respectively, over the five years. The Standard & Poors 500 index increased 97 percent.
The Business Record also tracks 13 other companies that have major operations in the state and appear in our daily e-newsletter stock listing. The unweighted average for those companies improved 103 percent since 2009.
Of the Iowa-based companies, Flexsteel Industries Inc. had the largest five-year percent increase, 335 percent, and saw its stock price increase from $7.02 in 2009, to $30.52 in 2014, narrowly edging the 327 percent increase of Winnebago Industries Inc.
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