10/11/2013 1:24:00 AM
HEADLINES
Fastener Stocks See Strong Growth
The FIN Fastener Stock Index nearly doubled its growth rate in the third quarter of 2013, gaining 8.7% from July to September as compared to 3.9% by an index of related industrial stocks.
Carpenter Technologies achieved the highest percentage increase in Q3, gaining 29% after two consecutive quarters of share declines.
But Stanley Black & Decker and B/E Aerospace tied for second place, with share value rising 17% during the quarter.
Other FINdex fastener companies whose share value gained 10% or more during the period include Anixter (15.6%), Barnes (16.4%), Chicago Rivet (10.6%), ITW (10.3%), Nucor (13.1%), Park-Ohio (16.5%) and Simpson Mfg. (10.3%).
During the first nine months of 2013 the FINdex gained 25.1%, besting a 16.6% gain by an index of related industrial stocks.
Park-Ohio is emerging as the clear winner so far in 2013, with nine-month share gains of 80%. The company has achieved a growth rate of at least 50% in each quarter of 2013.
Other FINdex companies gaining 25% or more in stock price during the first nine months of 2013 include Anixter (37%), B/E Aerospace (49%), Barnes, (55.5%), Chicago Rivet (53.6%), Dorman Products (40.2%), Grainger (29.3%), ITW (25.4%) and TriMas (33.2%).
During the opening half of 2013 the FINdex rose 5.1% as compared to 1.4% by an index of related industrial stocks. ©2013 GlobalFastenerNews.com
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