FIN Fastener Stock Index Mirrors 3rd Quarter Overall Markets
FIN Fastener Stock Index Mirrors 3rd Quarter Overall Markets
John Wolz
Fastener stocks fell 17.2% in the third quarter of 2001, compared with overall stock markets dropping 17.3%.
The FIN Fastener Stock Index is down 20.7% for the first three quarters of 2001, compared with overall stock markets falling 19.0%.
Almost all stocks fell during the quarter and especially in the post-September 11, 2001, period ending the third quarter.
Most notably bucking the trend was TransTechnology, which rose from 8.72 at the end of the second quarter to 13.75 at the end of the third quarter.
TransTechnology is in the midst of sell its engineered components business to Kohlberg & Company LLC.
Fastener-related stocks dropping more than 10% included Alcoa, Aviall, Barnes, Black & Decker, Danaher, Dover, Fairchild, Honeywell, ITW, Kaydon, Nucor, Penn Engineering, Pentacon, Precision Castparts, SPS, Textron, Industrial Holdings, Lawson, Park-Ohio and Questron.
For information on fastener stocks, see the stock section of FastenerNews.com �2001 FastenerNews.com
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