Stocks Gain, Log Recent Quarterly Milestones

Wall Street Photo by Eric MillerThe Dow moved higher Friday and logged its best quarterly gain in almost 14 years. For the quarter, the Dow jumped 8.14 percent, the S&P 500 surged 12.00 percent, and the Nasdaq soared 18.67 percent. The Yahoo Finance Manufactured Housing Composite Index also gained three quarters of a percent.

Manufactured Housing and related stocks that ended the week on a high note include Affiliated Managers Group, up .85 cents (.77 percent) to $111.81; Cavco, up .79 cents (1.73 percent) to $46.58; Equity LifeStyle Properties, up $1.29 (1.88 percent) to $69.74; Nobility Homes, up .26 cents (3.47 percent) to $7.75; Patrick Industries, up .84 cents (7.43 percent making it the day’s biggest gainer) to $12.15; Skyline Corp., up .16 cents (2.14 percent) to $7.65; Sun Communities, up .19 cents (.44 percent) to $43.33 and Walker & Dunlop, up .25 cents (2.02 percent) to $12.60.

Those closing lower were Clayton Homes, Vanderbilt Mortgage and Finance, as well as MH home-building, lending and other housing suppliers parent company Berkshire Hathaway, down $590 (.48 percent) to $121,900; Drew Industries, down .04 cents (.15 percent) to $27.31; Louisiana-Pacific, down .22 cents (2.30 percent making it the day’s biggest percentage decliner) to $9.35; Third Avenue Value Fund, down .45 cents (.98 percent) to $45.70; Universal Forest Products, down .71 cents (2.02 percent) to $34.48 and UMH Properties, down .07 cents (.63 percent) to $10.96.

Remaining unchanged Friday were Champion, Deer Valley, Liberty and Palm Harbor Homes.

Also in stock news today Sun Communities, a real estate investment trust that owns and operates manufactured housing and recreational vehicle communities, announced its Board of Directors declared a quarterly dividend of $0.63 per share for the first quarter of 2012. The dividend is payable April 27, 2012 to shareholders of record April 16, 2012. Sun Communities has approximately 26.5 million shares outstanding.

(Image Credit: Eric Miller)

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