For the second consecutive year, the FIN Fastener Stock Index achieved growth of 20% or more.

The FINdex rose 20.2% during 2017.

In most years, that would be a notable achievement. But 2017, when U.S. stocks closed out their best year since 2013, was no ordinary year.

Despite this, industrial stocks performed well.

An index of related industrial stocks achieved 22.7% growth during the year, besting a solid performance by the FINdex.

During 2017, aerospace led the way, with aerospace fastener supplier KLX – the former B/E Aerospace fastener division – achieving a 51% increase in share price, driven by sales to commercial aerospace manufacturing customers.

Another FINdex winner during 2017 was Arconic – the former Alcoa Fastening Systems and Rings business, which achieved a 47% increase in its share value. During 2017, Arconic named veteran General Electric executive and metallurgist Charles “Chip” Blankenship as CEO. Blankenship, 51, brings 20 years of aerospace experience to Arconic, having worked across GE’s aviation businesses, including aero engines, industrial gas turbines and aerospace alloy development.

Other fastener companies posting double-digit gains during 2017 included Carpenter Technology (up 41%); Fastenal (up 16.4%); ITW (up 36.2%); Simpson Mfg. (up 31.2%); Stanley Black & Decker (up 48%); and TriMas Corp. (up 13.8%).

FINdex stocks losing share value during the year included Chicago Rivet (down 23%); Dorman Products (down 16%); Tree Island Steel (down 43%); and Wesco Aircraft (down 50%).

Fourth Quarter
The FINdex achieved much of its growth during the fourth quarter of 2017, when the FINdex rose 14.1%, compared to an 8.1% gain by an index of related industrial stocks.

Grainger posted the highest share value growth in Q4, increasing 31.4%, but that gain had strong losses to overcome in previous quarters, and Grainger’s stock closed the year with a modest 1.7% improvement.

Other FINdex stocks posting double-digit gains during Q4 included Fastenal (up 20%); ITW (up 12.8%); KLX (up 29%); MSC Industrial (up 28.3%); Nucor (up 13.4%); Simpson Mfg. (up 17.1%); and Stanley Black & Decker (up 12.4%).

Fastener stocks losing share value in Q4 included Dorman Products (down 14.6%); Bisco Industries (down 1.4%); Lawson Products (down 1.8%); Tree Island Steel (down 8%); TriMas Corp. (down 0.9%); and Wesco Aircraft (down 21.3%).

In 2016, the FINdex rose 20%, compared to an 11.1% increase by an index of related industrial stocks.

For the last nine years of financial coverage, FIN Subscribers can visit the FIN Stock Review section of GlobalFastenerNews.com.