FIN Fastener Stock Index Up 7.4%

John Wolz

The FIN Fastener Stock Index outperformed other industrial stocks during the third quarter of 2004, rising 7.4% contrasted to a 2.7% loss by an index of related stocks.\ While the fastener gain bested competitors, the results eased off the 12.9% growth pace posted in Q2. The largest increase went to Park-Ohio Holdings Corp., which saw its stock price soar 51.7% to $17.90. Other companies with strong stock performance included Black & Decker (24.6%), B/E Aerospace (20%), Nucor (19%), R&B Inc. (11.6%) and Precision Castparts (10%). Fastener stocks with single-digit gains were: Textron, Lawson Products and Anixter International. Ivaco, which has been sold in bankruptcy to Heico Inc., recorded the single greatest loss in stock price during the quarter, with its share value dropping 77% to three cents on the Toronto Exchange.Other fastener stocks losing share value during Q3 included Alleghany, Barnes, Danaher, Honeywell, ITW, Kaydon, PennEngineering, Chicago Rivet and Federal Screw. �2004 FastenerNews.com