End of 2014 FIN Stock Review
FEATURE
The latest FIN Stock Review is here. Since 1999, the FIN Stock Review has combed through thousands of pages of annual reports and other financial releases to find the fastener news our subscribers expect. Read how publicly held companies with fastener holdings performed in 2014 – and beyond.
Alcoa: In early 2014 CEO Klaus Kleinfeld called his company “very optimistic” about its fastener business. And it’s easy to see why.
Anixter: Fastener segment sales worldwide edged up only 0.3%, but North American fasteners sales grew at a faster pace.
B/E Aerospace: “2014 was a defining year in the history of the company,” stated chairman Amin Khoury. “We completed the spin-off of KLX, our consumables management segment.”
Carpenter Technology: Ongoing “weakness” in the oil and gas market prompted Carpenter Technology to restructure in early 2015.
Chicago Rivet: Fifth consecutive year of fastener segment growth.
Dorman Products: Full-year sales, including fasteners, increased 13%, while EPS rose 11% and R&D spending grew 18%.
Fastenal: After a “very challenging year” in 2013, Fastenal reported sales growth doubled in 2014, primarily from volume.
Grainger: “This was a challenging year, and we were not satisfied with our overall 2014 performance,” stated CEO Jim Ryan.
Hillman: In May 2014, CCMP Capital Advisors acquired a controlling interest in Hillman from Oak Hill Capital Partners.
ITW: Automotive OEM segment revenue, including fasteners, declined 2.2% in the opening quarter of 2015, despite a 7% organic increase in sales.
Lawson Products: Company is partnering with The Cooperative Purchasing Network to provide MRO supplies to government agencies nationwide.
MSC Industrial: CEO Erik Gershwind noted “significant and swift change in the demand environment since the start of the calendar year due to the impact of the rapid drop in oil prices, softening export demand and poor weather.”
Nucor: Company expects to benefit from decrease in scrap prices.
Park-Ohio: Heavy duty truck sales increase market paces fastener sales growth.
Precision Castparts: Fastener Products segment is expected to benefit when Boeing 787 production schedules accelerate and core aerospace product sales recover.
Simpson Mfg.: Net sales increased in 2014 in all segments, with North America reporting the largest increase, primarily due to increased unit sales.
Stanley Black & Decker: “Engineered Fastening remains one of our highest priority growth platforms and we see a significant opportunity to expand this business.”
TriMas: Acquired Allfast Fastening Systems for the “astonishingly high price” of $340 million in early 2015.
Wesco Aircraft: Full-year sales increased 50%.
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Related Stories:
• Hagan: Fastener Acquisitions Jump in 2014
• Fastenal Sales Growth Slows in May
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