Stock Tickers: CTX, DHI, KBH, LEN, RYL, MHO, BECN, BLDR, MAS, XHB
After a mid-day review of 52-week lows, there was one obvious group that makes this list now more frequently than it does not: HOMEBUILDERS. Related companies are also on the list of usual suspects as well.
**denotes hit intraday 52-week lows but may be above now
Centex (CTX) $25.88; prior low $26.03
DR Horton (DHI) $13.58; prior low $13.61
KB Home (KBH) $26.43; prior low $26.55
**Lennar (LEN) $25.61; 25.50 prior low (today low $25.34)
**Ryland (RYL) $25.19; prior low 24.92 (today low $24.90)
**M I Homes (MHO) $14.82; prior low 414.81 (today low $14.65)
Those with related activities that saw intra-day lows under the prior 52-week low ar as follows: Beacon Roofing Supply (BECN), Builders Firstsource (BLDR), and Masco (MAS).
About the only good news is that the SPDR S&P Homebuilders (AMEX:XHB) shares are actually UP on the day now with the broader markets. XHB shares are up 0.8% at $22.81, and its 52-week range is $22.59 to $40.03. This ETF is being led by some of the large suppliers that serve the industry rather than by the homebuilder components themselves. Toll Brothers (TOL) and Pulte Homes (PHM) are actually up on the day.
Jon C. Ogg
September 11, 2007
Jon Ogg produces the 24/7 Wall St. SPECIAL SITUATION INVESTING NEWSLETTER; he does not own securities in the companies he covers.