Creeler Vickie Glover replaces an empty spool at the Dixie Group in North Georgia.LOCAL STOCK VALUESShares of nearly all publicly traded companies based in the Chattanooga area rose in 2013. The businesses’ closing stock price Tuesday and the company’s yearly market change last year, in order, were:• Dixie Group, $13.20, up 302.4 percent• Unum Group, $35.08, up 68.4 percent• Mohawk Industries, $148.90, up 64.6 percent• Covenant Transport, $8.21, up 48.4 percent• Miller Industries, $18.63, up 22.1 percent• Astec Industries, $38.63, up 15.7 percent• Cornerstone, $2.37, up 3.4 percent• First Security, $2.30, up 3.1 percent• CBL & Associates, $17.96, down 15.3 percentSource: NYSE, NASDAQ, OTC
More hiring and homebuilding in 2014 are expected to continue to provide tailwinds to key Chattanooga area companies such as Dixie Group and Unum and boost their stock prices, financial experts said Tuesday.
But, the big gains some companies’ shares experienced last year, such as Dixie’s 302 percent increase over 2012, aren’t likely to repeat themselves.
“It’s unlikely Mohawk Industries will be up another 60 percent this year,” said Jim Campbell of Campbell Asset Management. “Moderate gains I do expect.”
Chris Hopkins of Barnett & Co. said that while the housing recovery slowed in the second half of 2013, the trend is still higher for this year.