Fastener Stocks Decline in 2015
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Fastener Stocks Decline in 2015
U.S. stocks closed lower in 2015, capping the worst year for the market since 2008.
Industrial and aerospace fastener stocks took their share of market losses, with the FIN Fastener Stock Index falling 15.9% for the year. A comparative index of related industrial stocks declined 1% during 2015.
Only two of the twenty public companies tracked by the FINdex made stock gains during the year. Stanley Black & Decker shares climbed 11%, while shares of Tree Island Steel jumped 135%.
After falling three straight quarters, the FINdex rose in final quarter of the year, increasing 1.6%. But gains were modest and unable to cover mounting stock losses for many publicly traded companies with industrial fastener holdings.
In 2014, the FINdex lost 2.5% of its value, compared to a 7.2% gain by an index of related industrial stocks.
FIN subscribers can read the full story by clicking here.
FIN Subscribers can also read a summary of the last seven years of fastener results for FINdex companies by visiting the FIN Stock Review section of GlobalFastenerNews.com.
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