FIN Fastener Stock Index Drops

Jason Sandefur

The FIN Fastener Stock Index declined 4.4% in the second quarter of 2008, while an index of related stocks declined 2.9% during the same period. \
Five of the fastener companies in the FINdex saw their share price rise. Kaydon Corp. led the way with a 17% gain in stock value. Other companies whose share price increased were Barnes Group, Nucor, Grainger and MSC Industrial.
Among publicly traded fastener companies, B/E Aerospace took the biggest hit during Q2, with its share price falling 33%. Other companies with double-digit share losses were Black & Decker, Carpenter Technologies, Lawson and Dorman Products.
During the first half of 2008 the FINdex dropped 4.4%, compared to an 11.3% decline by an index of related stocks. �2008 FastenerNews.com