The FIN Fastener Stock Index capped a tumultuous 2020 with a double-digit gain in a year that should global economies grappling with COVID-19.

The FINdex increased 10% during the year, lower than the 12.8% rise in stock value by an index of related industrial stocks.

Fastener companies with rising share value in 2020 include Dorman Products, Fastenal, Grainger, ITW, Howmet Aerospace, MSC Industrial, Simpson Mfg., Stanley Black & Decker, Tree Island Steel and TriMas.

Fastenal achieved the highest stock gain, rising 32.1% during the year. Fastenal reported the decline in fastener sales that began in March due to the pandemic continued to slow in November, with sales down only 1.7% compared to an 6.9% decrease in the third quarter of 2020. Overall sales at Fastenal increased 6.8% to $441.03 million in November, while daily sales totaled $22.05 million during the month.

During the third quarter, Fastenal fastener daily sales fell 6.9% to $431.05 million (30.5% of total sales), including a 6.1% decline in September. Overall Q3 sales increased 2.5% to $1.41 billion, with gross profit down 1.6% to $640.6 million and net earnings rising 3.7% to $221.5 million.

Other fastener companies with share gains in 2020 included Dorman Products (up 14.6%); Grainger (up 20.6%); ITW (up 13.5%); MSC Industrial (up 7.5%); Simpson Mfg. (up 16.5%); Stanley Black & Decker (up 7.7%); Tree Island Steel (up 25.7%); and TriMas (up 0.8%).

Fastener stocks losing value during 2020 included Carpenter Technology (down 41.5%); Chicago Rivet (down 11.3%); EACO – Bisco Industries (down 15.8%); Lawson Products (down 2.2%); Nucor (down 5.4%); and Park Ohio (down 8.1%).

In the third quarter, the FINdex gaining a modest 13.2% after rising 26.7% in the second quarter and falling 30.3% in the first quarter.

During the first six months of 2020, the FINdex lost 11.5% of its value, compared to a 7.1% decline by an index of related industrial stocks. Carpenter Technology saw its share value decline 54% during the period.

During 2019, the FINdex gained 33.7%, besting a 24.4% increase by an index of related industrial stocks. Bisco Industries achieved the highest percentage gain, improving 84% during the year.