Fastenal Company (NASDAQ:FAST) traded today at a new 52-week high of $54.75. This new high was reached on below average trading volume as 227,000 shares traded hands, while the average 30-day volume is approximately 2.9 million shares.
Fastenal Company (NASDAQ:FAST) defies analysts with a current price ($54.11) 4.2% above its average consensus price target of $51.85.
Fastenal opened its first fastener store in 1967 in Winona, Minnesota. Since then, Fastenal has greatly expanded its footprint as well as its products and services. Today, Fastenal serves its 400,000 active customers through approximately 2,000 branches, over 1,250 on-site locations, and 14 distribution centers. Since 1993, the company has added other product categories, but fasteners remain its largest category at about 30-35% of sales. Fastenal also offers customers supply-chain solutions, such as vending and vendor-managed inventory.
Over the past year, Fastenal Company has traded in a range of $42.38 to $54.75 and is now at $54.11, 28% above that low.
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