7/7/2014 12:40:00 AM
HEADLINES
2014 FINdex Sees Modest First-Half Growth
The FIN Fastener Stock Index achieved a modest 2.9% gain in the first half of 2014, compared to a 3.1% increase by an index of related industrial stocks.
Eight of the 20 public companies tracked by the FINdex lost share value during the half, which saw tough market conditions in January and February as weaker-than-expected U.S. data, concerns over growth in China and the outlook for some emerging economies troubled investors.
By contrast, the FINdex gained 15% in the first six months of 2013 on its way to a 33.3% increase for the year, including 7% growth in the final quarter.
Fastener companies gaining 10% or more in share value during the first half of 2014 included Alcoa (40%), Anixter (11.4%), Chicago Rivet (11.6%), Lawson Products (33%), MSC Industrial (18.3%), Park-Ohio (10.9%) and Tree Island Steel, which more than doubled its share value during the period.
Fastener companies losing share value in the opening half of 2014 included Dorman (down 12%), Bisco Industries (down 8.8%), Grainger (down 0.4%), Nucor (down 7.7%), Precision Castparts (down 6.3%), Simpson Mfg. (down 1.4%), TriMas (down 4.4%), and Wesco Aircraft (down 7.9%).
First-half gains were moderated by a lackluster second-quarter performance.
The FIN Fastener Stock Index edged up 1.4% in the second quarter of 2014, compared to a 2.6% gain by an index of related industrial stocks.
Fastener companies gaining 10% or more in share value during Q2 included Alcoa (15.7%), MSC Industrial (10.5%), Tree Island Steel (61.2%), and TriMas (14.8%).
Fastener companies losing share value in Q2 included Anixter (down 1.4%), Carpenter Technologies (down 4.2%), Chicago Rivet (down 5.1%), Dorman (down 16.5%), Bisco Industries (down 16.9%), Nucor (down 2.5%), Precision Castparts (down 0.14%), and Wesco Aircraft (down 9.3%).
The FINdex gained 33.3% in 2013, compared to a 27.1% increase by other indices.
The last five years of FINdex company results are available in the FIN Stock Review section of GlobalFastenerNews.com.
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