NEWS BRIEFS
2013 FINdex Beats Industrials
For 2nd Straight Year
For the second straight year the FIN Fastener Stock Index outperformed an index of related industrial stocks. The FINdex gained 33.3% in 2013, compared to a 27.1% increase by other indices.
Only one out of the 18 public companies tracked by the FINdex saw its share value decline in 2013. Stanley Black & Decker shares fell 0.02% to $80.69, hurt by a 10.9% stock slide in the final quarter.
The biggest FINdex gain was achieved by Park-Ohio, whose shares swelled 146% to $52.40 in 2013, having achieved a quarterly growth rate of at least 30%.
H. Paulin held the top FINdex spot in 2012 before being acquired by the Hillman Companies in early 2013.
Other FINdex companies gaining share value of 25% or more in 2013 included Anixter, B/E Aerospace, Barnes, Chicago Rivet, Dorman, Grainger, ITW, Precision Castparts and TriMas.
During the fourth quarter the FINdex rose a modest 7%, with fourteen of the the 18 public companies tracked by the FINdex gaining share value.
The four fastener companies recording Q4 stock losses were Grainger, MSC Industrial, Simpson Mfg. and Fastenal, whose shares declined 5.5% after the company downgraded its Q4 sales and profit forecast. ©2014 GlobalFastenerNews.com
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