10/7/2014 1:34:00 AM
HEADLINES
Despite Gains by 5 Companies, Overall FINdex Declines
The FIN Fastener Stock Index declined 7.1% in the third quarter of 2014, compared to a .4% gain by an index of related industrial stocks.
The Q3 loss follows a modest 2.9% FINdex increase in the first half of the year.
Only five of the 20 public companies tracked by the FINdex gained share value during the third quarter. Fastener companies gaining stock value during Q3 included Alcoa (8%), Bisco Industries (440%), Lawson Products (36.8%), Nucor (10.2%) and Stanley Black & Decker (1.1%).
Fastener companies losing 10% or more in stock value during Q3 included Anixter (-15.2%), Carpenter Technologies (-28.6%), Chicago Rivet (-16.2%), Dorman Products (-18.8%), Grainger (-10.3%), MSC Industrial (-10.6%), Park-Ohio, (-17.6%), Simpson Mfg. (-19.5%), TriMas (-36.2%) and Wesco Aircraft (-12.8%).
Most of the FINdex losses and gains moderated in the first nine months of 2014, with the FINdex dropping 4.4% compared to a 13.6% increase by an index of related industrial stocks.
Eight of the 20 public companies tracked by the FINdex gained share value during first nine months of the year.
Fastener companies gaining stock value included Alcoa (51.4%), Bisco Industries (392%), ITW (0.4%), Lawson Products (82%), MSC Industrial (5.7%), Nucor (1.7%), Stanley Black & Decker (10%) and Tree Island Steel (117%).
Fastener companies losing 10% or more in stock value during the first nine months of 2014 included Carpenter Technologies (-27.4%), Dorman Products (-28.5%), Simpson Mfg. (-20.6%), TriMas (-39%) and Wesco Aircraft (-19.7%).
The FINdex gained 33.3% in 2013, compared to a 27.1% increase by other indices.
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