FIN Fastener Stock Index Continues Strong Gains

John Wolz

The FIN Fastener Stock Index handily outperformed the competition during 2004, increasing 25.9% in value compared with a 7% gain by an index of related stocks. The FIN Index improvement was slightly lower than the 29.9% gain reported in 2003. At least two companies reported triple-digit gains in stock price in 2004.

The largest share value increase went to Park-Ohio, which saw its stock price climb 248% to $25.81 by year”s end. B/E Aerospace also recorded a large increase, with its stock value jumping 115% to $11.64.

Other companies that reported a gain of at least 50% in share price included Black & Decker (78.7%), Lawson (51.7%) and R&B Inc. (61.2%).

Fastener companies whose share value dropped were Alcoa, which lost 17.3% in value; Barnes, which dropped 17.9%; PennEngineering, which saw a 4.8% decline; and Federal Screw, which declined 15.8%.

During the fourth quarter the FIN Fastener Stock Index rose 7.4%, compared with an 8.6% gain by an index of related stocks.

Park-Ohio saw the largest quarterly increase, gaining 44.2% on its stock value to $25.81 per share. Double digit jumps during Q4 were also reported by Aviall, Black & Decker, Danaher, Kaydon, Textron, B/E Aerospace, Lawson, R&B Inc. and H. Paulin & Co.

Fastener-related companies reporting a share value loss during the period include Alcoa, Barnes, Honeywell, ITW, PennEngineering and Federal Screw. \ �2005 FastenerNews.com