Global Fastener News

Fastener Stocks Outperform Industrial Indexes in 2021

Fastener Stocks Outperform Industrial Indexes in 2021
January 03
23:33 2022

The FIN Fastener Stock Index increased 25.1% in 2021, besting a 19.2% gain by an index of related industrial stocks during a tumultuous year that saw international shipping rates skyrocket.

Nucor Corp. topped the FINdex in 2021, capitalizing on its position as a domestic steel manufacturer amid U.S. tariffs on steel imports.

The steelmaker, which manufactures industrial fasteners through its Nucor Fastener division, saw its publicly-traded shares more than double during 2021, with its share value increasing 115% during the year.

In late 2021, Nucor Fastener acquired “an existing state-of-the-art coil processing facility” in Shelbyville, IN.  The facility includes an automated clean and coat line, 2 STC furnaces and wire drawing capabilities.  In addition to coil processing, Nucor Fastener will also be expanding its fastener manufacturing capabilities by installing bolt making equipment at the facility.

Earlier in the year, Nucor agreed to acquire Hannibal Industries, Inc. for $370 million.  Hannibal utilizes sheet and bar steel, as well as steel decking, wire deck and fasteners to produce warehouse racks, providing potential supply chain efficiencies with other Nucor businesses, including Nucor Fastener.

Other FINdex companies that gained 20% or more in share value during 2021 include Dorman Products (up 30.2%), Fastenal (up 31.2%), Grainger (up 27%), ITW (up 21%), Simpson Mfg. (up 34%) and Tree Island Steel (up 80%). 

Fastener companies losing share value during the year include MSC Industrial (down 0.3%) and Park Ohio (down 31.5%).

During the final quarter of 2021, Grainger shares achieved the largest increase, rising 32.2%.

Other FINdex companies that gained 20% or more in share value during the last three months of the year include Fastenal (up 24.7%), ITW (up 20%) and Simpson Mfg. (up 30.3%).

Related Articles

0 Comments

No Comments Yet!

There are no comments at the moment, do you want to add one?

Write a comment

Only registered users can comment.

error: Content is protected !!