HBSDealer Stock Watch: Terrible Tuesday
|All 30 stocks tracked by HBSDealer finished the day lower, as Wall Street suffered on Tuesday. The biggest mover was BLDR, down more than 14%.|
|BLDR (Builders FS)||12.24||-14.25%|
|BMCH (BMC Stock)||16.55||-5.43%|
|CENT (Central Garden)||33.16||-3.72%|
|DE (Deere & Co.)||151.59||-6.55%|
|HD (Home Depot)||175.30||-3.54%|
|LL (Lumber Liquidators)||11.18||-8.81%|
|SMG (Scotts Miracle-Gro)||72.49||-4.01%|
|TSCO (Tractor Supply)||92.99||-2.87%|
|UFPI (Universal Forest)||26.32||-6.13%|
U.S. LBM acquires Deering Lumber
The move expands U.S. LBM’s presence in Maine to 5 locations.
U.S. LBM Holdings has acquired Deering Lumber based in Biddeford, Maine.
With this acquisition, U.S. LBM now has 5 locations throughout Maine.
Founded in 1866, Deering Lumber operates 3 locations in Maine, serving custom home builders and remodelers across southern and coastal regions of the state along with the neighboring New Hampshire coastline.
A distributor of lumber and a wide range of specialty building products, including windows, doors, decking, wallboard, roofing and siding, Deering Lumber will continue to be led by President C.D. Armstrong.
“A strong customer base, diverse product offering and team focused on customer relationships make Deering Lumber an ideal addition to our family of companies,” said U.S. LBM President and CEO L.T. Gibson. “By adding a market leader in Deering Lumber, we’re expanding our reach and customer base in the coastal New England residential construction and renovation market.”
Based in Buffalo Grove, Ill., U.S. LBM operates more than 240 locations nationally and had sales of $3.1 billion last year.
Engineering CEOs see strength in spending
The third-quarter Engineering Business Index Survey is bullish on construction spending.
The American Council of Engineering Companies 3rd quarter survey of engineering firm CEO confidence indicates continued optimism for the strength of the architecture/engineering/const
The good news also comes with some caution based on uncertainties over whether the economy can sustain this growth and whether the pipeline of engineering talent will be sufficient to fuel demand into the future.
CEOs report a much-improved economy as compared to twelve months ago, including a larger backlog of business and strong profitability expectations over the next six months, twelve months and three years. The Engineering Business Index survey, which is carried out quarterly for ACEC by FMI Corporation, also highlights strong public sector markets – notably water and wastewater – as well as growth in most private market sectors, particularly health care and industrial/manufacturing.
“America’s engineering companies are busy right now, which is good news for the economy,” said ACEC President and CEO Linda Bauer Darr. “But market watchers and policymakers need to take notice of the undercurrent of concern within these strong numbers. In the near-term, is this growth run sustainable, and looking out over long-term, will we have sufficient numbers of engineers to support the key market sectors that are critical to a healthy economy?”
[View the latest EBI report here www.acec.org]