FINdex Drops Amid Stock Slump
FEATURE
Following two consecutive quarters of gains, the FIN Fastener Stock Index fell 8% during the second quarter of 2010. The FINdex outperformed an index of related industrial stocks, which declined 11% during the period.
The second quarter challenged numerous companies that watched revenues rise while share value decreased.
Fewer than 30% of the public fastener companies tracked by FIN achieved stock gains during Q2.
The biggest winner was TriMas, which saw its share value jump 74% during the period. Park-Ohio also did well, with its stock growing 64%.
Other companies with rising share value during Q2 included Fastenal, MSC Industrial, Lawson and Dorman.
Public fastener companies losing 10% or more in stock value during Q2 included Alcoa, Barnes Group, Stanley Black & Decker, ITW, Nucor, Precision Castparts, B/E Aerospace, and Simpson Mfg.
The FINdex gained 10% in the final quarter of 2009, and grew 66% during the opening quarter of this year.
The FIN Fastener Stock Index rose 33.4% during 2009, gaining back most of the value it lost during the stock plunge of 2008. ©2010 GlobalFastenerNews.com
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