Hart index sees third-quarter slip in regional companies value

Despite strong gains by Clearwater Paper Corp. and Itron Inc., the Hart Capital Inland Northwest Index fell by 3.6 percent during the third quarter.

For comparison, the Standard & Poor’s 500 Index reported a 7.2 percent increase during the quarter.

The index compiled by Spokane-based Hart Capital Management looks at the performance of the eight largest publicly traded companies in the region.

The total market capitalization of local public companies dropped by $911.3 million during the quarter. Hart Capital attributed $156 million of the drop to Northwest Bancorp. being purchased by Montana-based First Interstate Bancorp. in August.

During the third quarter, four local companies saw gains and four saw losses.

Clearwater Paper led the gains, with a 28.6 percent increase in stock price, followed by Itron with a 6.9 percent increase. W.T.B. Financial Corp. and Key Tronic Corp. each posted gains of 0.9 percent in stock prices.

Avista Corp.’s stock price declined by 4 percent during the quarter. PotlatchDeltic’s stock price declined by 19.5 percent, and Hecla Mining Co. experienced a 19.8 percent decline.