The FIN Fastener Stock Index roared back in 2023, growing 44.3% in value compared to an 18.3% gain by an index of related industrial stocks in a rocky economic year that eventually produced a “recovery” in U.S. industrial fastener demand.

Three of the 13 companies tracked by the FINdex achieved significant growth.

Simpson Mfg. soared 123% during the year, defying broader market adversity with continued earnings growth.

Park-Ohio finished strong as well, gaining 120% in stock value during 2023.

And Carpenter Technology saw its shares rise 91%.

The FINdex achieved strong growth in three of the four quarters, including a 17.2% increase in the final three months of the year.

During the first nine months of 2023, the FINdex gained 23% compared to a 5.6% increase by an index of related industrial stocks.

The FINdex lost 11.5% in 2022, besting a 15.5% decline by an index of related industrial stocks.