Fastener Stocks Decline for Third Straight Quarter
FEATURE
The FIN Fastener Stock Index fell for a third consecutive quarter, declining 1.3% in the third quarter of 2015. A comparative index of related industrial stocks declined 2% during Q3.
Only two of the twenty publicly traded companies with fastener holdings tracked by the FINdex achieved share gains during the period: Dorman Products (up 6.8%) and Precision Castparts (up 14.9%).
In August, billionaire investor Warren Buffet’s Berkshire Hathaway agreed to acquire Precision Castparts Corp., which manufactures aerospace fasteners and other products, for $37.2 billion cash. The price equals about $235 per share.
FINdex companies losing 10% or more in share value during the third quarter of 2015 included…
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