3 Stocks Dragging In The Materials & Construction Industry

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All three major indices are trading down today with the Dow Jones Industrial Average ( ^DJI) trading down 4 points (0.0%) at 16,511 as of Wednesday, April 23, 2014, 12:55 PM ET. The NYSE advances/declines ratio sits at 1,718 issues advancing vs. 1,280 declining with 133 unchanged.

The Materials & Construction industry currently sits down 0.9% versus the S&P 500, which is down 0.1%. On the negative front, top decliners within the industry include Meritage Homes ( MTH), down 8.7%, Owens-Corning ( OC), down 3.1%, USG ( USG), down 1.6%, James Hardie Industries ( JHX), down 1.2% and Chicago Bridge & Iron Company ( CBI), down 1.1%.

TheStreet would like to highlight 3 stocks pushing the industry lower today:

3. PulteGroup ( PHM) is one of the companies pushing the Materials & Construction industry lower today. As of noon trading, PulteGroup is down $0.20 (-1.1%) to $18.46 on average volume. Thus far, 5.5 million shares of PulteGroup exchanged hands as compared to its average daily volume of 7.5 million shares. The stock has ranged in price between $18.20-$18.69 after having opened the day at $18.68 as compared to the previous trading day's close of $18.67.

PulteGroup, Inc., through its subsidiaries, engages in homebuilding and financial services businesses primarily in the United States. PulteGroup has a market cap of $7.1 billion and is part of the industrial goods sector. Shares are down 8.3% year-to-date as of the close of trading on Tuesday. Currently there are 7 analysts that rate PulteGroup a buy, 4 analysts rate it a sell, and 4 rate it a hold.

TheStreet Ratings rates PulteGroup as a buy. The company's strengths can be seen in multiple areas, such as its compelling growth in net income, revenue growth, largely solid financial position with reasonable debt levels by most measures, notable return on equity and impressive record of earnings per share growth. We feel these strengths outweigh the fact that the company shows weak operating cash flow. Get the full PulteGroup Ratings Report now.

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