The election of Donald Trump has been good for defense stocks, and shares of Huntington Ingalls Industries, parent company of Ingalls Shipbuilding in Pascagoula, reached a 52-week high of $182.74 Wednesday morning.
At midday Wednesday, the stock is trading at $178.06. It closed Tuesday at $180.55.
Zacks reports that Huntington Ingalls has a market cap of $8.37 billion. Stock for the largest U.S. military shipbuilder surged about 35 percent in the last year, outperforming the Zacks Categorized Aerospace/Defense industry’s gain of 8.9 percent over the same time frame.
More than 70 percent of active U.S. Navy fleet consists of Huntington Ingalls ships, according to the report.
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Nasdaq lists Huntington Ingalls Industries as one of the three defense stocks to buy under a Trump presidency.