Topic: How To Invest

Spinoffs & Takeovers Hotline – Friday, November 1, 2024

Article Excerpt

FASTENAL COMPANY, $78.23, symbol FAST on Nasdaq, is a leading wholesale distributor of industrial and construction supplies. It draws almost all its clients from the construction and manufacturing industries. Those construction customers include general, electrical, plumbing, sheet-metal, and road contractors. In manufacturing, Fastenal sells to original-equipment manufacturers and maintenance/repair operations. The company also serves farmers, truckers, railroads, mining companies, governments, schools, and certain retail trades. Fastenal’s product lines are varied: threaded fasteners; tools and equipment; abrasives and cutting tools; components and accessories for hydraulics, pneumatics, plumbing and HVAC; material-handling products; and janitorial, welding, safety, and electrical supplies. It also sells personal protective equipment (PPE), hand sanitizer and related products. The company has about 1,597 retail locations in the U.S., Canada, Mexico, and elsewhere internationally. It also has 1,986 onsite locations (providing dedicated sales and service to one or two clients from within, or close by, their own facilities). By setting up in a customer’s facility, it creates a closer and more secure relationship…