Spokane-based Hart Capital Management Inc. says in its quarterly report that the composite value of eight Inland Northwest-based publicly traded companies fell to $11.2 billion in the 2018 third quarter ended Sept. 28, a decrease of 7.5 percent, or $911.3 million, compared with the second-quarter composite.

The composite has fallen by $1.4 billion, or 11.1 percent, compared with the first-quarter composite value of $12.6 billion.

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

Those companies are Avista Corp., Clearwater Paper Corp., Hecla Mining Co., Idaho Independent Bank, Itron Inc., KeyTronic Corp., PotlatchDeltic Corp., and WTB Financial Corp.

According to the report, market capitalization—the total dollar value of outstanding shares of stock—decreased for half of the companies during the third quarter, while the other half saw increases in market capitalization.

In terms of performance, Hecla Mining experienced the largest third-quarter decline, with a 19 percent, or $276.4 million, drop in market capitalization from the second quarter, ending the third quarter at $1.1 billion. 

PotlatchDeltic Corp., which was formed early this year in a merger, experienced the largest third-quarter decline in market capitalization in terms of dollar value, with a decrease of $621.3 million to bring the company’s total market capitalization to $2.6 billion, a drop from PotlatchDeltic’s second quarter market capitalization of $3.19 billion.

Itron led the composite over the 12-month period, with a $498.9 million increase.

Clearwater Paper experienced an increase of $108.6 million, or 28.6 percent, during the quarter, making it the top performer. 

In terms of dollar value in gains, Liberty Lake-based technology company Itron Inc. led the group with a third-quarter market capitalization increase of $162.7 million, or 6.9 percent.

WTB Financial, the parent of Spokane-based Washington Trust Bank, saw an increase of $8.9 million, or 1 percent, while electronic contract manufacturer KeyTronic experienced a slight increase of $800,000, or 0.9 percent.

Year to date, the Hart Capital Management Composite has fallen $303.3 million, or 2.68 percent.

Northwest Bancorp., the parent company of Inland Northwest Bank, dropped out of the composite and index when it was acquired by Billings, Mont.-based First Interstate BancSystem Inc. in August.