5 Stocks Pushing The Materials & Construction Industry Higher

Editor's Note: TheStreet ratings do not represent the views of TheStreet's staff or its contributors. Ratings are established by computer based on metrics for performance (which includes growth, stock performance, efficiency and valuation) and risk (volatility and solvency). Companies with poor cash flow or high debt levels tend to earn lower ratings in our model

All three major indices are trading down today with the Dow Jones Industrial Average ( ^DJI) trading down 25 points (-0.2%) at 14,513 as of Friday, March 15, 2013, 12:49 PM ET. The NYSE advances/declines ratio sits at 1,309 issues advancing vs. 1,578 declining with 140 unchanged.

The Materials & Construction industry currently sits down 0.3% versus the S&P 500, which is down 0.1%. Top gainers within the industry include EMCOR Group ( EME), up 1.8%, and PulteGroup ( PHM), up 1.0%. On the negative front, top decliners within the industry include Great Lakes Dredge & Dock Corporation ( GLDD), down 18.3%, Quanta Services ( PWR), down 1.2%, James Hardie Industries ( JHX), down 1.0% and DR Horton ( DHI), down 0.4%.

TheStreet Ratings group would like to highlight 5 stocks pushing the industry higher today:

5. Meritage Homes Corporation ( MTH) is one of the companies pushing the Materials & Construction industry higher today. As of noon trading, Meritage Homes Corporation is up $1.56 (3.5%) to $46.13 on heavy volume Thus far, 907,761 shares of Meritage Homes Corporation exchanged hands as compared to its average daily volume of 550,300 shares. The stock has ranged in price between $44.53-$46.40 after having opened the day at $44.66 as compared to the previous trading day's close of $44.57.

Meritage Homes Corporation engages in designing and building single-family detached homes. It offers a range of homes for various homebuyers, including first-time, move-up, active adult, and luxury. The company provides its homes under the Meritage Homes and Monterey Homes names. Meritage Homes Corporation has a market cap of $1.6 billion and is part of the industrial goods sector. The company has a P/E ratio of 14.4, below the S&P 500 P/E ratio of 17.7. Shares are up 19.3% year to date as of the close of trading on Thursday. Currently there are 5 analysts that rate Meritage Homes Corporation a buy, 1 analyst rates it a sell, and 5 rate it a hold.

TheStreet Ratings rates Meritage Homes Corporation as a buy. The company's strengths can be seen in multiple areas, such as its robust revenue growth, solid stock price performance, compelling growth in net income, notable return on equity and impressive record of earnings per share growth. We feel these strengths outweigh the fact that the company has had generally high debt management risk by most measures that we evaluated. Get the full Meritage Homes Corporation Ratings Report now.

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