7/6/2015 1:39:00 AM
HEADLINES
Many Fastener Stocks Lagging in 2015
The FIN Fastener Stock Index fell for a second consecutive quarter at the end of June, dropping 7.4% in the second quarter of 2015. A comparative index of related industrial stocks declined 0.4% during Q2.
Only seven of the twenty publicly traded companies with fastener holdings tracked by the FINdex achieved share gains during the period: Bisco Industries (up 6.8%); Fastenal (up 2%); Grainger, which recorded a slight gain; KLX (up 14.5%); Lawson Products (up 1%); Stanley Black and Decker (up 10%); and Tree Island Steel (up 76%) in Q2.
FINdex companies losing 10% or more in share value during the second quarter of 2015 included Alcoa (down 13%); Anixter (down 14%); and Chicago Rivet (down 14%).
The FINdex declined 6.9% in the opening quarter of 2015, reversing gains it made during the final quarter of 2014. A comparative index of related industrial stocks rose 2% during the first three months of 2015.
In 2014 the FINdex lost 2.5% of its value, compared to a 7.2% gain by an index of related industrial stocks. The final period of 2014 was marked by strong gains and losses.
During the first half of 2015, the FINdex dropped for a second consecutive quarter at the end of June, dropping 13.8%. A comparative index of related industrial stocks grew 1.5% during the first six months of 2015.
The biggest winner was Tree Island Steel, which saw its share value more than double in the first half. Only three other FINdex companies achieved gains during the period: KLX (the spinoff of B/E Aerospace’s fastener distributioin segment) saw its stock grow 7%; Stanley Black & Decker shares improved 9.5%; and Wesco Aircraft stock increased 8.4% in the opening six months of 2015.
Fastener stocks losing 10% or more in value during the first half include Alcoa (-29%); Anixter (-26%); Carpenter Technology (-21.5%); Bisco Industries (-10%); Fastenal (-11%); Lawson Products (-11%); MSC Industrial (-14%); Nucor (-10%); Park-Ohio (-23%); and Precision Castparts (-17%).
The FINdex declined 6.9% in the opening quarter of 2015, reversing gains it made during the final quarter of 2014. A comparative index of related industrial stocks rose 2% during Q1.
FIN Subscribers can also read a summary of the last seven years of fastener results for FINdex companies by visiting the FIN Stock Review section on GlobalFastenerNews.com.
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