Global Fastener News

FINdex Maintains Growth Despite Supply Disruptions

FINdex Maintains Growth Despite Supply Disruptions
April 01
21:44 2021

Supply chain disruptions did not derail the FIN Fastener Stock Index in the opening quarter of 2021. The FINdex maintained its brisk pace during the quarter, climbing 9.6% compared to a 6.5% gain by an index of related industrial stocks.

Tree Island Steel achieved the highest stock gain during Q1, rising 72.4%. During 2020, Tree Island revenues increased 7.7% to $215.9 million due to higher shipped volumes. Gross profit increased to $25.9 million, and gross margin climbed to 12% from 8.9% in 2019.

Other fastener companies with rising share value during Q1 included Carpenter Technology (up 41.3%); Chicago Rivet (up 11.5%); Dorman Products (up 18.2%); Fastenal (up 2.9%); ITW (up 8.6%); Howmet Aerospace (up 12.6%); Lawson Products (up 1.9%); MSC Industrial (up 6.9%); Nucor (up 50%); Park Ohio (up 1.9%); Simpson Mfg. (up 11%); and Stanley Black & Decker (up 11.8%).

Fastener stocks losing value during the first quarter EACO – Bisco Industries (down 4.5%); Grainger (down 1.8%); and TriMas (down 4.2%).

During 2020, the FINdex increased 10% during the year, lower than the 12.8% rise in stock value by an index of related industrial stocks.

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