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Many Fastener Stocks Lagging in 2015

By Global Fastener News , 2015-07-06 11:21:07

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The FIN Fastener Stock Index fell for a second consecutive quarter at the end of June, dropping 7.4% in the second quarter of 2015. A comparative index of related industrial stocks declined 0.4% during Q2.

Only seven of the twenty publicly traded companies with fastener holdings tracked by the FINdex achieved share gains during the period: Bisco Industries (up 6.8%); Fastenal (up 2%); Grainger, which recorded a slight gain; KLX (up 14.5%); Lawson Products (up 1%); Stanley Black and Decker (up 10%); and Tree Island Steel (up 76%) in Q2.

FINdex companies losing 10% or more in share value during the second quarter of 2015 included Alcoa (down 13%); Anixter (down 14%); and Chicago Rivet (down 14%).

The FINdex declined 6.9% in the opening quarter of 2015, reversing gains it made during the final quarter of 2014. A comparative index of related industrial stocks rose 2% during the first three months of 2015.

In 2014 the FINdex lost 2.5% of its value, compared to a 7.2% gain by an index of related industrial stocks. The final period of 2014 was marked by strong gains and losses.

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