NEWS BRIEFS
FINdex Outperforms Competition During 2011

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The FIN Fastener Stock Index grew 8.3% during the first half of 2011, outperforming the 6.6% increase achieved by an index of related industrial stocks.

 

First-half results included a 3.4% rise during the second quarter of 2011, which bested the 3.1% gain achieved by an index of related industrial stocks.
 

The strongest FINdex performance during Q2 was achieved by Carpenter Technologies, whose shares gained 35.5% during the period. The company’s stock value grew 44.4% to $57.68 during the first six months of 2011.

 

Other fastener companies with gains of 10% or more included Barnes, Grainger, Precision Castparts, B/E Aerospace and Fastenal.

Barnes share value increased 19% to $24.81 during Q2. For the first half of 2011, Barnes stock improved 21%.
 

Grainger stock gained 12% to $153.65 during the second quarter, with first-half gains reaching 12.2 %.
 

Precision Castparts saw its shares increase 11.9% to $164.65 during Q2. First-half stock value gained 18.3%.
 

B/E Aerospace shares climbed 14.8% to $40.81 during the second quarter of 2011, with overall stock value gaining 10.2% during the first six months of the year.
 

Fastenal stock grew 21.5% to $35.99 during the opening half of the year, which included an 11.4% share value gain during the second quarter.
 

First-half frontrunners included Carpenter Technologies, Barnes, Grainger, Precision Castparts, B/E Aerospace and Fastenal.

 

Fastener companies whose stock value dropped during the second quarter of 2011 included Alcoa, Anixter, Stanley Black and Decker, Kaydon, Nucor, Chicago Rivet, MSC Industrial Direct, Lawson, and Dorman Products. amp;nbsp;

For the first half of 2011, Lawson recorded the single largest drop in share value, with its stock dropping 20% to $19.67 by the end of June. Other fastener companies whose share value declined in the opening half included Kaydon, Nucor, Chicago Rivet, and Simpson Mfg.

Industrial stocks proved a safe bet for investors in 2010, helping to drive up the FINdex 34% — its second straight year of gains of 30% or more. The 2010 FINdex nearly tripled the performance of an index of related industrial stocks, which increased 12.2% during the year.  ©2011 GlobalFastenerNews.com