Iowa-based companies’ stocks up more than 4% in November
Iowa companies largely had a November to be thankful for, with a majority recording share price gains last month.
Media companies Gannett Co. Inc. and Meredith Corp. were among the top gainers for the month, along with Deere & Co. and Winnebago Industries. Meredith, Deere and Winnebago had double-digit increases on both a price basis and a percentage basis in November.
In mid-November Gannett’s USA Today Network announced a organizational restructuring aimed at strengthening its focus on its two key businesses — marketing solutions and its consumer division. Meredith last week announced a $2.8 billion deal to acquire Time Inc.
Deere also made headlines in November when it closed out its fiscal year with net income of $510 million for the quarter, up from $285 million for the fourth quarter of 2016.
The Business Record’s Iowa Index, an unweighted average price of 23 state-based public companies, was up 4.26 percent in November. On a year-over-year basis, the index was up 13 percent, compared with Nasdaq’s 29 percent increase from a year ago. Seventeen of the 23 companies in the index had price gains for the month.
See the full Iowa Index.