10/23/2012 11:57:00 AM
HEADLINES
FINdex Rebounds in Third Quarter
The FIN Fastener Stock Index rebounded in the third quarter of 2012, besting an index of related industrial stocks.
The FINdex gained 7.1% in Q3, compared with 4.9% gain by industrial stock composites.
Those gains come after a weak second quarter, when all public companies tracked by the FINdex lost ground.
During Q3 Dorman Products proved to be the “comeback kid,” growing share value 41.5% in Q3 compared with a 32% stock loss in the previous quarter.
The year has tumultuous for Dorman Products’ stock. In Q2 Dorman Products was the hardest hit stock tracked by the FINdex, losing half of its overall share value in the first half of 2012 despite a 37% gain in the opening quarter.
But the company’s stock appears back on track after a strong third-quarter finish, during which it gained back nearly all of its value lost in the previous quarters.
Other fastener companies gaining 10% or more in share value during Q3 included ITW, Park-Ohio, Paulin, Simpson Mfg., Stanley Black & Decker and Trimas.
Only three fastener companies lost share value in the third quarter. B/E Aerospace stock dipped 3.5%; Precision Castparts declined 0.7%; and Lawson Products, whose shares lost 25.1% of their value in Q3, marking three consecutive quarters of stock decline for the company. ©2012 GlobalFastenerNews.com
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