Global Fastener News

First-Half FINdex Growth Slows

First-Half FINdex Growth Slows
July 10
10:59 2017

The FIN Fastener Stock Index lost steam in the first half of 2017, increasing only 2.9% during the six-month period after gaining 9.1% in the opening quarter of the year.

That compares to an 8.4% increase by an index of related industrial stocks during the first six months of the year.

Fastener stocks gaining 10% or more in value during the first half included Arconic (up 20%); Dorman Products (up 12%); Bisco Industries (up 22.4%); ITW (up 17%); KLX (up 10.8%); and Stanley Black & Decker (up 22.7%).

The FINdex stall occurred primarily during the second quarter of 2017, when fastener stocks lost a collective 5.6% of value, compared to a 3% gain by an index of related industrial stocks.

Fastener companies losing 10% or more in stock value during Q2 included Arconic (down 15.7%); Fastenal (down 16.6%); Grainger (down 22.7%); MSC Industrial (down 16.3%); and Tree Island Steel (down 12.7%).

Fastener companies gaining stock value during Q2 included Bisco Industries (up 10%); ITW (up 8.1%); KLX (up 11.8%); Park Ohio (up 6%); Simpson Mfg. (up 1.4%); Stanley Black & Decker (up 5.9%); and TriMas (up 0.5%).

The FINdex rose only 9.1% in the opening quarter of 2017.

Arconic was the biggest winner in stock value during Q1. Overall stock results for Arconic, which includes Alcoa’s former $1.8 billion Fastening Systems and Rings business, jumped 42% during the period.

Other companies gaining 10% or more in share value during 2016 included Dorman Products (up 12.4%); EACO (up 11.2%); MSC Industrial (up 11.2%); and Stanley Black and Decker (up 15.8%).

But the opening quarter took its toll on some publicly traded companies with fastener holdings.

Fastener companies losing 5% or more in share value during Q1 included Lawson Products (down 5.7%); Park Ohio (down 15.6%); TriMas (down 11.7%); and Wesco Aircraft (down 23.7%).

In 2016, the FINdex posted impressive gains, rising 20% during the year, compared to an 11.1% increase by an index of related industrial stocks.

Chicago Rivet & Machine Co. was the biggest winner in stock value during 2016, with shares climbing 78.4%.

Editor’s Note: Click on FIN Stock Review to read the last nine years of financial results for publicly held fasteners companies tracked by the FINdex.

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