Investing in Chattanooga stocks paid off this summer

Doyle Weaver, machine operator, keeps and eye on the needles inside the Colortron machine. Workers at the Dixie Group carpet plant in Eton, Georgia, produced, inspected and shipped carpet. Doyle Weaver, machine operator, keeps and eye on the needles inside the Colortron machine. Workers at the Dixie Group carpet plant in Eton, Georgia, produced, inspected and shipped carpet.

By Dave Flessner October 2, 2016 2 min read

Contributed photo / CBL & Associates Properties Inc. corporate headquarters are in Chattanooga.

Quarterly gains

Stocks moved higher in the third quarter ended Friday: * Dixie Group, $5, up 40.4 percent * CBL, $12.14, up 30.4 percent * Unum, $35.31, up 11 percent * Miller Industries, $22.79, up 10.7 percent * Covenant Transport, $19.33, up 7 percent * Astec Industries, $59.87, up 6.6 percent * Mohawk Industries, $200.34, up 5.6 percent * Dow Jones Industrials – 189,308.15, up 2.1 percent * S&P 500 – 2,168.27, up 3.3 percent

Chattanooga’s stock-traded companies heated up along with the summertime temperatures this year with a majority of the seven major publicly traded companies boasting double-digit gains in the third quarter.

Investing in Chattanooga paid off handsomely this summer as all of the publicly traded companies based in the Chattanooga area outperformed the overall stock market gains during the three-month period that ended Friday.

Shares of two companies that had dropped in value earlier in 2016 rebounded strongly in the summer quarter.

The Chattanooga-based carpet maker Dixie Group enjoyed a 40 percent jump in the price of its stock in the third quarter.