Written by R.W. Baird analyst David J. Manthey, CFA with Quinn Fredrickson, CFA 11/6/20 Key Takeaway: The seasonally adjusted Fastener Distributor Index (FDI) for October was 56.5, improving for the second consecutive month. Nearly all components of the FDI showed m/m improvement. Looking forward, the Forward-Looking Indicator (FLI) also showed nice improvement, reaching the highest […]
Written by R.W. Baird analyst David J. Manthey, CFA with Quinn Fredrickson, CFA 10/4/20 Key Takeaway: The seasonally adjusted Fastener Distributor Index (FDI) for September was 52.0, returning to growth after last month’s slight contractionary reading (49.2). An improvement in the sales and employment indexes drove the m/m improvement. Looking forward, the Forward-Looking Indicator (FLI) […]
Fully Threaded Radio episode 156 “Virtual Vegas” was published September 22, 2020. The one sure bet in the fastener industry is the Vegas show. But with this year’s long-odds cancellation, the FTR boys needed a way to unload their huge supply of giveaway Vegemite. They decided to set up a virtual booth anyway to see if […]
Written by R.W. Baird analyst David J. Manthey, CFA with Quinn Fredrickson, CFA 9/4/20 Key Takeaway: The seasonally adjusted Fastener Distributor Index (FDI) for August was 49.2, implying relatively stable momentum with July (near a neutral 50 reading). Looking at the drivers of the overall m/m moderation in the FDI, a decrease in the sales […]
Written by R.W. Baird analyst David J. Manthey, CFA 8/5/20 Key Takeaway: The seasonally adjusted Fastener Distributor Index (FDI) for July was 54.6, consistent with improving momentum (above 50 reading) but at a slower rate vs. the improvement seen in June (FDI decreased m/ m). As a diffusion index, the 54.6 reading indicates the trajectory […]
Written by R.W. Baird analyst David J. Manthey, CFA 7/6/20 Key Takeaway: The seasonally adjusted Fastener Distributor Index (FDI) for June was 56.9, surging m/m as the economic re-opening continued. Sales trends were better than seasonally expected for a majority of respondents, the first time that has occurred since January. The six-month outlook further improved […]
Written by R.W. Baird analyst David J. Manthey, CFA 6/4/20 Key Takeaway: The seasonally adjusted Fastener Distributor Index (FDI) for May was 45.0, showing signs of recovery as states began reopening and some manufacturing/construction customers resumed operations. Sales trends on a seasonally adjusted basis improved m/m, albeit off a very low base. The six-month outlook […]
Written by R.W. Baird analyst David J. Manthey, CFA 5/6/20 Key Takeaway: The seasonally adjusted Fastener Distributor Index (FDI) for April was 40.0, deteriorating further as the full brunt of COVID-19 customer shutdowns was felt. Sales trends on a seasonally adjusted basis were again much weaker. The six-month outlook encouragingly showed some signs of stabilization, […]