Two Rock Hill region businesses celebrate New York Stock Exchange listings

Two of the most recent listings on the New York Stock Exchange have deep ties to the Rock Hill region. Between them, they highlight how work done here has a national and even global impact.

Fort Mill equipment rental company Sunbelt Rentals began trading on the New York market last month under the ticker symbol SUNB.

Then this month, Canadian mining company OceanaGold began trading as OGC. OceanaGold isn’t headquartered here, but nearly half the gold it produces comes from Haile Gold Mine in Lancaster County.

Both companies rank among the largest employers in the region. Both expect the new exchange listings add investment and growth opportunities on a broader scale.

And they join a list of publicly traded companies that have reshaped commerce in the area.

Sunbelt opened on March 2 at $73 per share. It closed Friday at $76.88. OceanaGold opened on April 7 at $32 per share. It closed Friday at $32.79.

Sunbelt Rentals grows in Fort Mill

Sunbelt has a long history in Fort Mill after opening more than 40 years ago in the Charlotte region. The company announced an $8 million expansion to its Fort Mill headquarters on Deerfield Drive in 2016. Sunbelt then expanded into Kingsley three years ago, where its listed corporate address is now.

Sunbelt was part of Ashtead Group listed on the London Stock Exchange, but growth of its U.S. operations led to the company switching to the Sunbelt Rentals name and a U.S. headquarters this spring. Sunbelt will keep the London listing as a secondary one, but have its primary listing on the New York exchange.

Sunbelt operates in all 50 states and eight Canadian provinces. The company has more than 1,400 employees and 21,000 employees.

Sunbelt is one of just a few companies based in the Rock Hill region that are listed on the New York exchange. Rock Hill 3D manufacturer 3D Systems (DDD) and Fort Mill health company Catheter Precision (VTAK) are the others.

Haile Gold Mine leads to OceanaGold listing

OceanaGold joins a longer list of companies, where local plants or headquarter sites contribute to companies that are based elsewhere.

Haile is one of the largest gold mines in the world and is the “primary driver of the company’s near-term production growth,” OceanaGold President and CEO Gerard Bond said in announcing the stock listing.

OceanaGold is a global gold and copper mining company, with facilities in New Zealand and the Philippines. A University of South Carolina study determined last year the Haile has a more than $700 million annual economic impact on the state.

The company will continue to trade on the Toronto Stock Exchange in addition to the New York listing.

Around Rock Hill, big jobs follow publicly traded companies

Among the 20 largest employers in the three-county Rock Hill region, two are tied to New York Stock Exchange companies. Piedmont Medical Center, with hospitals in Rock Hill and Fort Mill, is a subsidiary of Dallas-based Tenet Health (THC). The other is Rhode Island-based pharmacy group CVS (CVS).

Other companies have or have had significant area job counts in recent years, and are part of larger listed companies.

Healthcare company Lash Group in Fort Mill became part of Pennsylvania company Cencora (COR). Ohio-based medical product maker Cardinal Health (CAH) and Brazilian metal company Gerdau Ameristeel (GGB) have significant operations in Lancaster County.

The region also has workers from large Charlotte-based or Charlotte region companies on the exchange, including Bank of America (BAC), Duke Energy (DUK) and Lowe’s (LOW).

Nasdaq lists large Rock Hill region companies

While well-known in business, the New York Stock Exchange is hardly the only place to find public company listings. Many of the larger businesses based in the Rock Hill region, or with large business presence here, are listed on another New York-based exchange — the Nasdaq.

Financial advising firm LPL Financial, with a regional headquarters campus in Fort Mill’s Kingsley development, rang the opening bell for the Nasdaq exchange in December to celebrate 15 years listed there. The company has nearly tripled its number of advisors in that time, to more than 32,000.

“The IPO fueled investments in technology, talent and services to help advisors grow thriving practices,” CEO Rich Steinmeier said just before opening the market on Dec. 8.

Ross Stores (ROST), with its massive Ross Dress for Less distribution facility in Fort Mill, is listed.

So is Walmart (WMT) with stores throughout the region, after moving from the New York Stock Exchange to Nasqaq last year. Both companies are among the 20 largest employers in the Rock Hill region.

Two Charlotte companies on Nasdaq are major employers in the Rock Hill region. Six Flags Entertainment (FUN) is the parent company of Carowinds, the state-line theme park based partly in Fort Mill. Tech and manufacturing company Honeywell (HON) has long been one of Lancaster County’s larger employers.

Like with the New York Stock Exchange, there are more Nasdaq listings for companies with a large presence in the Rock Hill region than there are businesses headquartered here.

Fort Mill-based Shoe Carnival (SCVL) is the exception. Lancaster has a Silgan Containers (SLGN) manufacturing site, but the metal container maker is based in California.

International trading for Rock Hill region companies

Like Sunbelt and OceanaGold with their secondary listings, still other major employers across the Rock Hill region are traded on international markets.

Continental Tire has its American headquarters in Indian Land. But its parent company Continental AG trades on the Frankfurt and other German markets. It’s traded over-the-counter in this country.

Auto and industrial supplier Schaeffler Group has its U.S. headquarters in Fort Mill, but its parent company also trades in Germany on the Frankfurt Stock Exchange.

Food Lion is owned by a company traded on European exchanges. Food Lion, like Continental Tire and Schaeffler Group, are among the 20 businesses that employ the most workers across the Rock Hill region.

Public listings and new business growth

In mid-March, 10 days after announcing its public listing on the New York Stock Exchange, Sunbelt released its latest quarterly earnings report showing $2.6 billion in total revenue. That’s a 2.7% increase from the same quarter prior year.

OceanaGold will release its first-quarter earnings May 6.

Last year, the company produced 497,600 ounces of gold and had a record quarterly revenue in the fourth quarter of $652 million. The company generated an annual cash flow of $543 million.

Both Sunbelt and OceanaGold point to the New York Stock Exchange additions as a way to drive new growth, according to public statements from their listings.

“With increased access to the U.S. capital markets, we are well positioned to support the next generation of infrastructure, construction and the broad non-construction markets across the U.S. and Canada,” Sunbelt CEO Brendan Horgan said, “which we believe will benefit all our stakeholders.”