Fastenal Co. Rises On Upbeat Q3 Results

(RTTNews) - Shares of Fastenal Company (FAST), a distributer of industrial and construction supplies, are rising more than 5% Thursday morning after reporting third-quarter earnings above the Street view.

Net earnings in the third quarter increased to $295.5 million or $0.52 per share from $284.6 million or $0.50 per share in the same quarter a year ago. Analysts on average polled by Thomson-Reuters were expecting earnings of $0.50 per share.

Sales for the quarter increased to $1.846 billion from $1.802 billion last year. The consensus estimate was for $1.85 billion.

FAST is at $59.13 currently. It has traded in the range of $43.73 - $59.43 in the last 52 weeks.