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.
Nasdaq lists Huntington Ingalls Industries as one of the three defense stocks to buy under a Trump presidency.