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Continued: Minnesota companies hit a down quarter; has the slide ended?

  • Article by: NEAL ST. ANTHONY and PATRICK KENNEDY , Star Tribune staff writers
  • Last update: April 6, 2014 - 9:15 PM

Stratasys, the Eden Prairie-based maker of rapid prototyping 3-D printing machines, rose from $30 per share in the fourth quarter of 2011 to more than $130 per share in the fourth quarter of 2013. The stock dropped 21 percent in the first quarter. It has rallied early in the second quarter after Stratasys announced three acquisitions in the past week. Still, the company has returned more than 65 percent annualized over the past five years, during which it also merged with an Israeli technology company.

Best Buy made a turnaround in 2013 under new CEO Hubert Jolly as the stock rose from a beaten-down $12 per share to nearly $45. The “Renew Blue” strategy has included store closings, streamlining and layoffs, but also key product partnerships and a revitalized online offering. But holiday sales disappointed, the competition with Amazon and Wal-Mart is intense and the stock price has fallen back to around $28 per share.

Target, down about 4 percent in the first quarter, has struggled in a tough retail environment and with problems brought on by the massive customer-privacy breach last holiday season, the botched Canadian-stores offensive and other problems.

Bed maker Select Comfort is down 14 percent in the first quarter. It has been a mercurial performer over the years, but is still up a stunning 90 percent annualized since 2009, largely because the stock slipped to under $1 during the recession.

Christopher & Banks, another retailer, was down 22.6 percent in the quarter, but is up 12 percent annualized since 2009.

Great Northern Iron Ore Properties, a non-operations company rooted in Minnesota’s mining and rail past, saw its price fall from $66.75 in January to under $20 recently. Short sellers, who profit when the price goes down, attacked what they said was an overvalued security.

Great Northern Iron Ore Properties is the successor to the land company established by the son of James J. Hill to profit from Iron Range ore hauled by Hill’s Great Northern Railway. The last surviving beneficiary in the trust agreement, Louis W. Hill Jr., died in 1995, triggering the 20-year remaining life of the underlying trust agreement.

That agreement calls for distribution of the remaining money from GNI trustees to shareholders in 2015. It also calls for the transfer at that time of GNI’s mineral properties and active leases to a subsidiary of ConocoPhillips Co. After shareholders get their final distribution in 2015, the shares will become worthless.

 

nstanthony@startribune.com • 612-673-7144

patrick.kennedy@startribune.com • 612-673-7926







 

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  • In this photo made on Friday, March 28, 2014, shows the exterior of the Best Buy store Cranberry, Pa., Butler County. (AP Photo/Keith Srakocic)

  • GLEN STUBBE ï gstubbe@startribune.com -- Thursday, February 29, 2008 -- Eden Prairie, Minn. -- New spring fashions in the Christopher & Banks store at Eden Prairie Center. Eden Prairie is used as a model store, once the arrangements are finalized they are used as a template for the other over 800 Christopher & Banks stores around the nation. New this ventures for Christopher & Banks are their online stores that now also offer petite sizes and plus sizes found at their C.J. Banks label. ORG XMIT: MIN2012082918463644

  • Arctic Cat line workers assemble an Arctic Cat Wildcat ATV at Arctic Cat's muanufacturing facility Wednesday, May 15, 2013 in Thief River Falls, MN. The snowmobile and ATV giant employs about 1,300 workers in Thief River Falls.](DAVID JOLES/STARTRIBUNE) djoles@startribune Pennington County is an island of growth in a sea of economic contraction in northwest Minnesota. Since 2000, job growth in the county has quadrupled population growth, making it an anomaly both statewide and in the northwest part of the state. Much of the hiring has been at Digi-Key, a homegrown company that now employs 2,600 people and does...

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  • GLEN STUBBE • gstubbe@startribune.com -- Tuesaday, July 13, 2010 -- St. Cloud, Minn. -- ] Arctic Cat's St. Cloud plant. The company recently announced plans to produce snowmobile engines there making them more vertically-integrated. ORG XMIT: MIN2012091320223569 ORG XMIT: MIN1304051542286038

  • The Star Tribune 100 index

    It is down in the first quarter, well off some of the major indexes.

    Index in the first quarter return

    1.3%

    S&P 500

    Index

    0.8

    Russell

    2000

    0.5

    Nasdaq Composite

    -13.7

    Star Tribune 100

    While there were 43 stocks in the Star Tribune 100 index that gained, 48 lost in the first quarter.

    Gainers

    Company close on Mar. 31 total return

    Ikonics Corp. $25.00 69.5%

    Famous Dave’s 24.48 33.8

    CyberOptics Corp. 8.31 30.0

    Datalink Corp. 13.93 27.8

    Lakes Entertainment 5.00 26.6

    Losers

    Great Northern Iron Ore Prop. $19.06 -68.7

    Best Buy Co. Inc. 26.41 -33.3

    Christopher & Banks Corp. 6.61 -22.6

    Stratasys Ltd. 106.09 -21.2

    Digi International 10.15 -16.3

    Arctic Cat Inc. 47.79 -15.9

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