The FIN Fastener Stock Index recovered in the third quarter of 2024, rising 16.6% after a 10.2% loss in the previous quarter as “production at U.S. factories surged in August amid a rebound in motor vehicle output,” according to Reuters.

Motor vehicle and parts output accelerated 9.8% last month after dropping 8.9% in July, while durable manufacturing production increased 2.1%.

Gains also occurred in the output of primary metals, electrical equipment, appliances and components as well as aerospace and miscellaneous transportation equipment, Reuters reports.

Carpenter Technology recorded the largest FINdex gain, with its stock value rising 45.6% during Q3.

Stanley Black and Decker also had a remarkable quarter, growing share value 38% in the quarter. The manufacturer plans to shop its Engineered Fastening business in 2025. The $1.2 billion Engineered Fastening business supplies the aerospace, automotive, construction, energy and medical industries.

Other FINdex companies achieving double-digit share increases included Chicago Rivet (up 22%), Dorman Products (up 23.6), Fastenal (up 13.6%), Grainger (up 15%), Howmet Aerospace (up 29%), Park Ohio (up 18.5%), and Simpson Mfg. (up 13.5%).

FINdex companies losing double-digit share value during Q3 included Nucor (down 13.6%) and Tree Island Steel (down 25%).

During the first nine months of 2024, the FINdex rose 20.1% compared to a 15% increase by an index of related industrial stocks.