FINdex Marks Double-Digit Drop in Q1

Jason Sandefur

The FIN Fastener Stock Index dropped 12% in the first quarter of 2008, a rate that’s higher than the 8.7% loss reported by an index of related stocks.
The few bright spots in the FINdex were Nucor, which saw its stock value climb 14% in Q1, as well as Fastenal and Chicago Rivet, both of which saw double-digit share price gains during the period.
Among publicly traded fastener companies, Park-Ohio’s stock took the biggest hit during Q1, falling 37%. Other companies with share loss of at least 20% were Precision Castparts, B/E Aerospace, Barnes Group, Lawson, Dorman and Paulin. \ �2008 FastenerNews.com