10/25/2010
HEADLINES
FINdex Recovers Second-Quarter Losses

The FIN Fastener Stock Index regained its momentum in the third quarter, growing 14.6% to put an 8% second-quarter loss behind it. The Q3 FINdex equalled the performance of an index of related industrial stocks, which also grew 14.6% during the period.

 

More than eight in ten public fastener companies tracked by the FINdex saw their shares gain value during the third quarter.

 

Dorman led the way by achieving a 51.6% increase in share price during the period. 

 

Other fastener companies with gains of 20% or more included Alcoa, Anixter, Stanley Black & Decker, Precision Castparts, Chicago Rivet and TriMas.

 

For TriMas, it’s 31% jump in share value during Q3 followed a 74% leap in stock price the previous quarter.

 

Fastener companies whose stock value dropped during the third quarter included Nucor, Lawson Products and Park-Ohio.

 

During the first nine months of 2010 the FINdex grew 3.2%, which was about half the 6% growth achieved by an index of related industrial stocks during the same period. 

 

The FINdex gained 10% in the final quarter of 2009, and grew 66% during the opening quarter of 2010 before losing 8% of its value during the second quarter.

 

The FIN Fastener Stock Index rose 33.4% during 2009, gaining back most of the value it lost during the stock plunge of 2008. ©2010 GlobalFastenerNews.com