3 Things You Should Know About Fastenal Company
Fastenal Company (NASDAQ:FAST) is a wholesale distributor of building and construction supplies: bolts, screws, nuts, anchors, washers, sockets … you name it. I’m a believer in the idea that seemingly boring companies often make the best investments and that understanding a company’s business and industry is important — two things that aren’t cryptic for a pick like FAST. Q2 numbers: Earlier this week, Fastenal reported earnings. For the first six months of the year, sales increased by 13%, while net earnings expanded by 36% compared to the comparable period of 2017. Fastenal stock is currently just a few dollars away from some resistance at its 52-week high. But once it breaks through that, I expect gains to continue. Organic double-digit growth and an almost-3% dividend yield is a pretty appealing combination — especially with a technical breakthrough likely on the way. As of this writing, Robert Martin did not hold a position in any of the aforementioned securities.