Fastenal sells hundreds of thousands of MRO, construction and OEM products that extend to 15 product lines.
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Analysts generally think investors should stand pat on Fastenal, with nine of 10 analysts rating it hold.
For the first time in several years Fastenal reported significant growth in sales numbers from this sector.
Fastenal helps its customers cut their transaction costs by offering them a one-stop solution to their hardware needs.
FORBES: 1 Cyclical Stock to Own for the Good and the Bad Times
Fastenal is up more than 200-fold since Mr. Dent bought it in 1987.
The majority of analysts think investors should stand pat on Fastenal, with six of 10 analysts rating it hold.
Slaggie is a long-time employee of Fastenal who retired in 1996 as Treasurer and now serves as an independent director.
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The rebound in manufacturing activity is a solid indicator for Fastenal going forward as that segment fell by 18.8% in fiscal 2009.
Industrial supplies distributor Fastenal recorded a 36.1% increase in second-quarter profit Tuesday, despite slower economic growth and continued stress on the construction industry.
For example, historically FAST has traded between 21x and 35x times cash earnings per share, and Fastenal closed yesterday trading for a multiple of 31x.
FORBES: Fastenal's Drop On Hefty Earnings Gain Is No Reason To Buy
After two years of either sales declines or negligible growth, Fastenal has recorded increases of 17.75 and 15.8% in the first two quarters of 2011.
Hardware supplier Fastenal was in the third quartile and rose fourteenfold.
In the press release, Fastenal noted that the economic contraction forced it to alter plans to shift drivers of growth from store openings to personnel additions.
FORBES: Fastenal's Earnings Growth Shows Construction Still Has A Pulse
While Fastenal is clearly experiencing fundamental improvement and starting to see growth return, it is clear to us that some of that has already been priced in.
FORBES: Fastenal's Drop On Hefty Earnings Gain Is No Reason To Buy
Fastenal has 2, 585 stores in the US and Mexico.
FORBES: 1 Cyclical Stock to Own for the Good and the Bad Times
With Fastenal showing positive momentum and topping expectations it might surprise some that the stock is actually trading 3% lower on heavy volume, especially considering the rest of the market is roaring higher.
FORBES: Fastenal's Drop On Hefty Earnings Gain Is No Reason To Buy
Construction supplies retail and wholesale store Fastenal posted third quarter earnings before the bell on Thursday, growing net income 29% and sales 20% on an expanded store-count and continued demand for their products.
FORBES: Fastenal's Earnings Growth Shows Construction Still Has A Pulse
Fastenal Co. (FAST) trading up by about 0.3%.
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Among the largest underlying components of VO, in trading today Alexion Pharmaceuticals Inc. ( NASD: ALXN) is up about 0.1%, Fastenal Co. ( NASD: FAST) is down about 0.3%, and AvalonBay Communities, Inc. ( NYSE: AVB) is relatively unchanged.
And yes, Fastenal makes links.
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Among the largest underlying components of VOT, in trading today Fastenal Co. ( NASD: FAST) is off about 0.7%, W.W. Grainger Inc. ( NYSE: GWW) is down about 0.7%, and Ross Stores, Inc. ( NASD: ROST) is lower by about 2.9%.
Among the largest underlying components of FTC, in trading today Fastenal Co. ( NASD: FAST) is down about 3.2%, TJX Companies, Inc. ( NYSE: TJX) is down about 1.6%, and Ross Stores, Inc. ( NASD: ROST) is lower by about 1.5%.
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