CORAL GABLES, Fla., Oct. 5, 2020 /PRNewswire/ — The Miami Herbert Business School’s Florida 50 Index (UMIAMIFL), which is calculated by Standard and Poors (S&P) Custom Indices, finished the third quarter of 2020 with a gain of 11.26%, and 15 of its firms saw their stock prices rise by more than 15%. The continued gain in the Florida index, which tracks all Florida-based firms in the S&P Composite 1500® Index, outperformed the broader S&P 500 by 2.78% and the S&P 1500 by 3.15%.
The 15 firms in the index that boasted quarterly stock increases of over 15% are:
Tupperware Brands Corp – TUP (+324.42%)
TopBuild Corp – BLD (+50.03%)
Bloomin’ Brands – BLMN (+43.25%)
AutoNation Inc. – AN (+40.85%)
Carrier Global Corporation – CARR (+37.44%)
Ruth’s Hospitality Group Inc. – RUTH (+35.54%)
Darden Restaurants Inc. – DRI (+32.95%)
Lennar Corp – LEN (+32.55%)
Watsco Inc. – WSO (+31.06%)
Dycom Industries Inc. – DY (+29.18%)
Royal Caribbean Cruises Ltd – RCL (+28.69%)
Chatham Lodging Trust – CLDT (+24.51%)
Sykes Enterprises Inc. – SYKE (+23.68%)
NeoGenomics, Inc. – NEO (+19.08%)
NextEra Energy Inc. – NEE (+15.57%)
The University of Miami’s Florida 50 Index, which was established by Miami Herbert Business School in 2016, is based on the capitalizations of all Florida-based large-, mid- and small-cap companies included in the S&P 1500 index having common stock listed on the NYSE or NASDAQ. It is the first custom S&P Dow Jones index to be owned by a university, and the only index that focuses solely on public companies headquartered in an individual U.S. state.
“The performance of the Miami Herbert’s Florida 50 Index during the third quarter of 2020 shows that in a market that has rebounded remarkably from the first quarter, Florida-based firms as a cross section are more than keeping pace with their counterparts across the country,” said Seth Levine, CPA, accounting lecturer at Miami Herbert and creator of the index.
“The twelve largest companies in the Florida 50 Index have a combined market capitalization of over $300 billion,” he said. “Florida’s gross domestic product, which surpassed $1 trillion in 2018, rivals that of countries like Spain and Mexico, and thus investors would do well to keep an eye on this index and its diverse set of constituents as they weigh their own investment decisions.”
The index is available under ticker symbol UMIAMIFL. It is calculated by S&P Dow Jones Custom Indices, and its performance can be monitored in real time via Yahoo Finance.
About Miami Herbert Business School
Miami Herbert Business School is a leader in preparing individuals and organizations to excel in the complex, dynamic, and interconnected world of global business. One of 12 schools and colleges at the University of Miami, the School offers undergraduate, master’s, doctoral, and executive education programs. With its location in a major center for international business, Miami Herbert Business School is acclaimed for its global perspective, student and faculty diversity, and engagement with the business community. More information about the Miami Herbert Business School can be found at www.bus.miami.edu.
SOURCE University of Miami Patti and Allan Herbert Business School