2009 FINdex Shows Fastener Stocks Recover Most of 2008 Losses
FEATURE
The FIN Fastener Stock Index rose 33.4% during 2009, gaining back most of the value it lost during the stock plunge of 2008. The ’09 FINdex also bested a composite index of related industrial stocks, which grew 23% during the year.
B/E Aerospace turned in the standout stock performance of 2009, with its shares more than tripling in value. In 2008 B/E Aerospace acquired Honeywell’s aerospace fastener distribution business, Honeywell Consumable Solutions, for $1.06 billion, transforming B/E Aerospace into one of the largest distributors of aerospace fasteners in the world.
As part of the deal, B/E signed a 30-year contract to become Honeywell’s exclusive licensee to sell fasteners, seals and other products, as well as supplying Honeywell’s production facilities. B/E’s new segment, Consumables Management, provides logistics services OEMs, airlines, repair shops, flight service centers and distributors, as well as distributing aerospace fasteners.
Other publicly held fastener companies gaining 40% or more in share value during 2009 included Alcoa, Anixter, Black & Decker, ITW, Precision Castparts and Paulin.
Three FINdex companies lost stock value in 2009: Simpson Mfg., Lawson Products and Park-Ohio.
During the final quarter of 2009 the FINdex grew 10%, while a composite index of related industrial stocks gained 6%.
Public fastener companies gaining 15% or more in stock value during Q4 included Alcoa; Anixter; Black & Decker; B/E Aerospace; and Carpenter Technologies.
Only three publicly-traded fastener companies lost share value during Q4: Barnes Group, Park-Ohio, whose shares dropped 35% during the final three months of 2009; and Paulin. ©2010 GlobalFastenerNews.com
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