Global Fastener News

U.S. stocks achieved solid gains in 2016, driving the Dow Jones Industrial Average to its best performance since 2013, Reuters reports.

GlobalFastenerNews.com looks back at the performance of the FIN Fastener Stock Index over the first nine months of 2016.

Full-year FINdex results will by reported on Wednesday.

During the first nine months of 2016, the FINdex rose 16.3%, compared to a 5.4% increase by an index of related industrial stocks.

Companies gaining 10% or more in share value during the first nine months of 2016 included Carpenter Technology (up 36.3%); Chicago Rivet (up 20.8%); Dorman Products (up 34.6%); Grainger (up 11%); ITW (up 29.3%); KLX (up 14.3%); MSC Industrial (up 30.4%); Nucor (up 22.7%); Simpson Mfg. (up 28.7%); Stanley Black and Decker (up 15.2%); Tree Island Steel (up 84.8%); and Wesco Aircraft (up 12.2%).

During the first six months of 2016, the FINdex rose 8.2%, compared to a 2.1% increase by an index of related industrial stocks.

The FINdex declined in the second quarter of 2016 as aerospace stocks lost value, but the drop was modest. The FINdex fell 1.5% in Q2, compared to a 1.5% gain by an index of related industrial stocks.

Companies gaining 10% or more in share value during Q2 included Chicago Rivet (up 10.5%); Bisco Industries (up 23.4%); and Tree Island Steel (up 22.9%).

Eight of the twenty publicly traded companies with fastener holdings tracked by the FINdex saw share declines during Q2. 

The FINdex rebounded in the opening quarter of 2016, despite an uneven performance by some of the biggest names in the industry. The FINdex rose 8% in Q1, compared to a .05% gain by a comparative index of related industrial stocks.

Companies gaining 10% or more in share value during Q1 included Carpenter Technology (up 11.6%); Dorman Products (up 14.6%); Fastenal (up 20%); ITW (up 10.5%); MSC Industrial (up 35.6%); Nucor (up 17.4%); Park Ohio (up 16.4%); Simpson Mfg. (up 11.8%); and Wesco Aircraft (up 20.2%).