Shares of military shipbuilder Huntington Ingalls Industries were up sharply Monday, building on Friday’s surge that came after the U.S. Navy announced it had selected the company to design and build a new class of small warship.

The gains on Monday came as President Donald Trump also said that he had approved a plan for the U.S. Navy to construct new “Trump-class” warships intended to serve as flagships the nation’s naval fleet.

Trump on Monday also criticized the prime defense contractors for being “too slow” on production. He said he would meet with those contractors in Florida next week to discuss production schedules.

HII’s stock finished 5% higher on Monday, with a new closing high above $350. It’s up around 87% in the year to date. Shares were up 4% after hours.

Secretary of the Navy John Phelan said in a news release Friday that his branch of the military will be acquiring a “new frigate class based on HII’s Legend-Class National Security Cutter design,” adding that Trump and Defense Secretary Pete Hegseth have signed off on the new FF(X) “small surface combatant” ship as part of their effort to build what officials are calling a “Golden Fleet.”

HII CEO Chris Kastner said Friday that he and his colleagues “look forward to supporting the Navy on this critical program” and that he has “great confidence” in his company’s Ingalls Shipbuilding division “to execute this program.” HII and the Navy didn’t give a dollar amount for the contract.

On March 5, HII’s stock scored its biggest one-day percentage gain ever as Trump announced efforts to boost domestic shipbuilders.

On Monday afternoon in Palm Beach, Fla., Trump — together with Hegseth, Phelan and Secretary of State Marco Rubio — said the two new large ships — which he called “battleships” — would be more powerful than their predecessors, and said the military would be making improvements to aircraft carriers as well.

Trump said the U.S.’s newer warships, in years past, were often smaller, but were “not conducive to where we are and where we’re going — peace through strength.” He said the new ships would weigh 30,000 to 40,000 tons, and could be equipped with nuclear cruise missiles, hypersonic weapons, electric rail guns and laser technology. He added that the ships would be made with steel, rather than aluminum, and would create jobs and help revive the nation’s ship-building prowess.

Trump said the Navy would lead the design of the design of the ships, along with himself, “because I’m a very aesthetic person,” and other industrial partners. Trump, in the past, has criticized the appearance of the nation’s warship fleet.

He also said he would also be discussing spending plans with defense contractors, executive compensation and investor payouts, and encouraged them to build new plants.

“We make the greatest equipment in the world by far,” Trump said. “Nobody’s even close, but they don’t produce them fast enough.”

Shares of some defense names — like Lockheed Martin Corp., Northrop Grumman Corp. and General Dynamics Corp. — were quiet in after-hours trade.

A Wall Street Journal report on Monday said the new fleet of large warships were separate from the new class of small warship revealed Friday. The Navy will launch a competition to choose a vendor to build the new large ships, according to the report, which cited unnamed sources. The Journal said the “battleship” would be an upgrade to the Arleigh Burke-class destroyers.