Strong materials pricing fueled by record construction levels helped boost the fortunes of most publicly traded companies with major stakes in North American
Strong materials pricing fueled by record construction levels helped boost the fortunes of most publicly traded companies with major stakes in North American concrete, cement and aggregate markets. Fourteen companies who trade on the New York Stock Exchange or over the counter, and derive at least 25 percent of revenues from concrete materials or products, logged an average per-share gain of 27 percent versus 3 percent for the Standard & Poor’s 500 Index.
|Hanson Plc||– 56.11||42.24||54.90||+27.9|
|Lafarge North America||70.47||50.36||55.02||+7.2|
|U.S. Concrete Inc.||9.50||5.07||9.48||+23.6|
Notes: Foreign-based Cemex, CRH (Oldcastle), Hanson and Rinker trade in American depository receipts, each one representing a typical quantity of five or 10 shares of a company as traded on its home country exchange. Florida Rock and Rinker effected 2-for-1 stock splits in 2005. Eagle Materials was formed in January 2004 as a spin off from Centex Corp. Texas Industries’ valuation reflects a third-quarter spin off of its Chapparal Steel business. Another Texas operator, Trinity Industries, saw 2005 stock price gains exceeding 20 percent, although its construction franchise, Transit Mix Concrete & Materials, accounts for less than a quarter of total revenue.