Wednesday, May 22, 2024

Three Charlotte industrial titans down more than 5% last week

Three big Charlotte-based industrial companies lost more than 5% of their market value, though each has had a strong 52-week performance.  These were the best performers included in the Capital Investment Cos./Nottingham Index of public companies for the week ended April 14 among companies with shares trading for at least $10.

Extended Stay America (STAY)  5.1% — $17.02 – Company’s real-estate investment trust subsidiary has sold or has under contract 47 hotels over the last 14 months. It plans to add 70 to 80 hotels by 2021, according to a March trade publication interview with CEO Gerry Lopez.

Cato (CATO) 4.7% — $21.34 – Charlotte-based apparel retailer rebounds after sliding 42% over the last year, including more than 6% the previous week.

Hanesbrands (HBI) — 2.6% –  $21.26 – Barron’s wrote favorably about Hanesbrands in its April 15 edition. Shares have declined 22% over the last year.

Biggest decliners:

SPX (SPXC)  (-7.6%) — $22.20 – No clear signal for decline. CEO Eugene Lowe III may be one of Charlotte’s lowest-profile CEOs. He worked for Lazard and Bain before joining the industrial-products company.

Enpro (NPO) — (-6.1%) – $64.09 – Shares cool off after topping $70 in early April, a 52-week high.

Nucor (NUE) – (-5.2%) – $56.96 – Charlotte-based steel maker has dropped 12% in the last month after Trump’s election spurred gains on hopes of increased infrastructure spending.

David Mildenberg
David Mildenberg
David Mildenberg is editor of Business North Carolina. Reach him at

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