Fastenal Shares Rise As Quarterly Results Beat Analysts' View

(RTTNews) - Shares of Fastenal Company (FAST), a distributor of industrial and construction supplies, are rising more than 6% Thursday morning after reporting upbeat quarterly results.

Profit for the fourth quarter increased 8.5% to $266.4 million or $0.46 per share from $245.6 million or $0.43 per share a year ago. Analysts on average polled by Thomson-Reuters were expecting earnings of $0.45 per share.

Sales for the quarter grew 3.7% to $1.759 billion from $1.696 billion in the previous year. The consensus estimate was for $1.75 billion.

FAST, currently at $67.24, has traded in the range of $45.70 - $67.54 in the last 1 year.