FEATURE
Remember the gains fastener stocks made in the final quarter of 2013? As of February 4, they’re essentially gone.
The FIN Fastener Stock Index achieved a modest 7% gain in the fourth quarter, with fourteen of the 18 public companies tracked by the FINdex gaining share value.
But during the first five weeks of 2014, the FINdex has lost 6.9% of its value, compared to a 6.3% decline by an index of related industrial stocks, brought on by “weaker-than-expected U.S. data, concerns over growth in China and the outlook for some emerging economies, Yahoo Finance reports.
By contrast, the FINdex gained 9.5% in the opening quarter of 2013 on its way to a 33.3% increase for the year.
Companies losing 10% or more of share value so far in 2014 include B/E Aerospace, Dorman Products, Nucor, Park-Ohio, Simpson Mfg. and TriMas. ©2014 GlobalFastenerNews.com
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