7/19/2010
HEADLINES
Q2 FINdex Drops Amid Stock Slump

Following two consecutive quarters of gains, the FIN Fastener Stock Index fell 8% during the second quarter of 2010. The FINdex outperformed an index of related industrial stocks, which declined 11% during the period.

The second quarter challenged numerous companies that watched revenues rise while share value decreased.

Fewer than 30% of the public fastener companies tracked by FIN achieved stock gains during Q2.

The biggest winner was TriMas, which saw its share value jump 74% during the period. Park-Ohio also did well, with its stock growing 64%.

Other companies with rising share value during Q2 included Fastenal, MSC Industrial, Lawson and Dorman.

Public fastener companies losing 10% or more in stock value during Q2 included Alcoa, Barnes Group, Stanley Black & Decker, ITW, Nucor, Precision Castparts, B/E Aerospace, and Simpson Mfg.

The FINdex gained 10% in the final quarter of 2009, and grew 66% during the opening quarter of this year.

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

Detailed company results are posted on GlobalFastenerNews.com and will be published in the August issue of FIN. ©2010 GlobalFastenerNews.com