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Wednesday, October 9, 2024

Amazon effect unnerves Ingles investors

Alliance One International, which has a market cap of about $139 million, was the best performer in the Capital Investment Cos./Nottingham Index of Carolinas-based public companies for the week ended July 7 among companies with shares trading for at least $10.

Best performers:

Alliance One International (AOI) — 7.3% — $15.45  –  Shares of the Morrisville-based leaf tobacco merchant have ranged between $9 and $22 in the last year. Bonds issued by the company yield more than 13% with a maturity in 2021.

Albemarle  (ALB) — 4.2% — $109.99 — Shares of the Charlotte-based chemical company have increased 32% in the last year.

Culp  (CFI) — 4.2% — $33.85 — High Point-based mattress ticking company changing its ticker symbol to CULP this week. It has traded on the New York Stock Exchange since 1997.

Biggest decliners:

Ingles Markets  (IMKTA)  (-6.9%) — $31 — Fears about Amazon’s entry bedevil grocers, including the biggest N.C.-based chain. It has lost 22% in the last year. Amazon is seeking to acquire Whole Foods Markets.

3D Systems (DDD) (-5%) — $17.77  — Shares of the Rock Hill, S.C.-based 3D printer maker have increased 26% in the last year.

Cato  (CATO) (-4.9%) — $16.72 — Shares of the Charlotte-based apparel retailer have tumbled to lowest level since early 2010. CEO John Cato controls 43% of voting power.

David Mildenberg
David Mildenberg
David Mildenberg is editor of Business North Carolina. Reach him at dmildenberg@businessnc.com.

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