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Stock Market & Financial Investment News

News Breaks
March 21, 2010
05:55 EDTFAST, FASTFastenal is headed for a solid year, Barron's reports
Hardware distributor Fastenal (FAST) was hard-hit by the recession, but the past two months have shown encouraging signs of a pickup. Known for its strong management and steady growth, Fastenal seems headed for a solid year as the economy rebounds. The company's solid balance sheet is another big plus. The company has $195M, or $1.32 a share, in cash and no debt. It pays a dividend that currently produces a 1.7% yield. Over the past five years, Fastenal has spent $250M to add stores and technology, expand its product line and establish a presence in China, Singapore and Malaysia. Despite the U.S. economy's ongoing struggles, the company's CEO Will Oberton sounds confident. Analysts think the stock, now at $47, could hit $54-$57 in a year. Reference Link
News For FAST From The Last 14 Days
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October 23, 2014
11:52 EDTFASTFastenal management to meet with William Blair
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October 22, 2014
15:30 EDTFASTFastenal management to meet with William Blair
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October 14, 2014
10:01 EDTFASTOn The Fly: Analyst Downgrade Summary
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07:24 EDTFASTFastenal downgraded to Neutral at Susquehanna
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06:57 EDTFASTFastenal downgraded to Neutral from Positive at Susquehanna
October 10, 2014
10:43 EDTFASTFastenal says will not give Q4 guidance
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10:19 EDTFASTFastenal expects "good" sequential growth going into FY15
Says believes expense growth going forward looks "much better." Believes the company has a lot of opportunity in the next 4-12 quarters to reduce working capital needed for inventory and says it is getting better at using inventory. Says margins appear more stable now than they were earlier in the year. Says if the economy stays steady, the company is in a good profit position. Aims to grow average store size and obtaining top-line growth. Says expense growth "looks good." Says there are "lots of gives and takes in margin" right now. Says Fastener growth has rebound. Says trends year-to-date in the company's overall business are "quite strong" as 2015 approaches. Says heavy equipment operations have stabilized. Says has potential to initiate share buybacks. Comments made during the company's Q3 earnings conference call.
07:47 EDTFASTFastenal cuts view of 'normal' gross profit range to 51%-52%
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06:54 EDTFASTFastenal reports July sales growth up 14.7%, August sales growth up 15%
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06:52 EDTFASTFastenal: Sales growth greatest driver of long-term operating profit gains
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06:50 EDTFASTFastenal reports Q3 EPS 45c, consensus 45c
Reports Q3 revenue $980.81M, consensus $980.1M

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