$FAST New Position in Fastenal
Our latest position, voted on in our January meeting, is in Fastenal (FAST). We entered the position on Wednesday at a price of $45.32 after commissions.
According to Yahoo Finance,
The Company Is Engaged As A Wholesaler And Retailer Of Industrial And Construction Supplies. The Industrial And Construction Supplies Were Grouped Into Ten Product Lines: Fasteners, Tools And EquipmeNt, Cutting Tools And Abrasives, Hydraulics, Pneumatics, Plumbing And Hvac, Material Handling, Storage And Packaging, Janitorial Supplies, Chemicals And Paints, Electrical Supplies, Welding Supplies, Safety Supplies And Metals, Alloys And Materials.
We are excited about the growth prospects of this company, growing EPS by 44.84% this year and expected EPS growth of 17.32% over the next 5 years. We also feel their FAST SolutionsSM Product will gain traction as American industrial companies continue to cut costs, control inventories, and become leaner businesses.
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