Abstract: Railroad spikes and the like are formed by apparatus having a stop contacting and limiting movement of the forwardmost end of a heated stock bar. A bending finger holds the forwardmost end in spaced relation from a stationary gripper die, while a movable gripper die engages the bar and moves it into engagement with the stationary gripper die. Cutter dies then engage the bar to form a tapered end portion at a predetermined location rearward of the forwardmost end as a head forming die engages the forwardmost end to form a spike head. The movable gripper die is urged toward the bar with a force which is proportional to the force exerted by the head forming die on the movable gripper die. The finished spike is ejected when it contacts an ejector finger.