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Business Observer Friday, May 2, 2014 8 years ago

PGT cracks door on stock index

The firm will be part of the S&P SmallCap 600 index.

VENICE — The stock of impact resistant window and door manufacturer PGT Industries will be added to the S&P SmallCap 600 index after the close of trading today.

The S&P SmallCap 600, according to a release, is an index of companies with a market capitalization of $350 million to $1 billion. Venice-based PGT, named to the 2014 Barron's 400 Index in April, will be part of S&P SmallCap's industrials sector and the building products industry group, the release adds. Shares of PGT are traded on the Nasdaq under the symbol PGTI (recent price: $10.51.). It has a market capitalization of $496.37 million.

“The S&P U.S. indices are widely recognized as leading indicators of the U.S. equities market performance, and we are honored to be part of such a distinguished and successful group of corporations,” Executive Vice President and CFO Jeff Jackson of says in the release. “This is remarkable recognition for our company and our commitment to long-term, sustainable growth.”

PGT reported fourth quarter and 2013 year-end earnings in February. The firm reported fourth quarter sales of $62 million, up from $45.2 million in 2012. Sales for the year were $239 million, up from $174 million in 2012.

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