Fueled by nationwide consumer demand in toilet paper, Spokane-based Clearwater Paper Corp. was the lone publicly traded company in the region to experience an increase in market capitalization in the first quarter of 2020, according to an analysis by Hart Capital Management Inc.

The overall composite value of the seven companies plummeted a little more than 26% from $12.5 billion in the fourth quarter to $9.2 billion in the recently completed first quarter, according to an analysis from Spokane-based Hart Capital.

The $9.2-billion composite mark matches the lowest composite level seen here since the end of fourth quarter 2018.

Hart Capital tracks the seven publicly traded companies in the Inland Northwest with its composite and Inland Northwest Index.

Clearwater Paper produced a market-cap gain of 2.1%, the report states.

“Clearwater Paper was able to weather severe stock market headwinds thanks to a significant increase in demand for retail tissue products related to COVID-19 consumer stockpiling,” the release says.

The other companies, Avista Corp., Hecla Mining Co., Itron Inc., Key Tronic Corp., PotlatchDeltic Corp., and WTB Financial Corp., the holding company for Washington Trust Bank, all suffered losses in market capitalization, the total dollar value of outstanding shares of stock.

The percentage of market capitalization loss ranged from Avista’s 9% to Key Tronic’s 46%. The largest percentage drops in market capitalization were experienced by Key Tronic and Hecla. Key Tronic saw a 46% drop to $31.3 million from $58.5 million, while Hecla saw a 43% drop to $952 million from $1.68 billion, according to the report.

Avista saw its market capitalization fall to $2.9 billion from $3.2 billion the previous quarter, according to the report. 

Itron Inc. saw a more than $1 billion drop in market cap, falling to $2.2 billion from $3.3 billion, compared with fourth quarter 2019, says Hart Capital.

Hart Capital is an independent, research-focused investment company that serves the Inland Northwest.