7/25/2016 11:40:00 PM
HEADLINES
FINdex Makes Steady Gains During First Half
The FIN Fastener Stock Index posted solid gains in the first six months of 2016, boosted by strong results from automotive and industrial fastener stocks.
During the first six months of 2016, the FINdex rose 8.2%, compared to a 2.1% increase by an index of related industrial stocks.
Companies gaining 10% or more in share value during the first half included Chicago Rivet (up 15.8%); Dorman Products (up 20.5%); Grainger (up 12.2%); ITW (up 12.4%); MSC Industrial (up 25.4%); Nucor (up 22.6%); Simpson Mfg. (up 17%); Tree Island Steel (up 15.5%); and Wesco Aircraft (up 12.1%).
Companies losing 10% or more in share value during the first half included Anixter (down 11.8%); Lawson Products (down 14.9%); and Park Ohio (down 23%).
The FINdex declined in the second quarter of 2016 as aerospace stocks lost value, but the drop was modest. The FINdex fell 1.5% in Q2, compared to a 1.5% gain by an index of related industrial stocks.
Companies gaining 10% or more in share value during Q2 included Chicago Rivet (up 10.5%); Bisco Industries (up 23.4%); and Tree Island Steel (up 22.9%).
Eight of the twenty publicly traded companies with fastener holdings tracked by the FINdex saw share declines during Q2.
The FINdex rebounded in the opening quarter of 2016, despite an uneven performance by some of the biggest names in the industry.
The FINdex rose 8% in Q1, compared to a .05% gain by a comparative index of related industrial stocks.
Companies gaining 10% or more in share value during Q1 included Carpenter Technology (up 11.6%); Dorman Products (up 14.6%); Fastenal (up 20%); ITW (up 10.5%); MSC Industrial (up 35.6%); Nucor (up17.4%); Park Ohio (up 16.4%); Simpson Mfg. (up 11.8%); and Wesco Aircraft (up 20.2%).
Seven of the twenty publicly traded companies with fastener holdings tracked by the FINdex saw share declines during Q1. Companies losing 10% or more in stock value included Anixter (down 13.7%); Bisco Industries (down 14.5%); Grainger (down 15.2%); and Lawson Products (down 16.1%).
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