FAST (Update)

Fastenal Company

Industrial/Transportation


Presented:10/08/2013
Price:$50.45
Cap:$15.00B
Current Price:$76.91
Cap:$44.04B

Presented

Date10/08/2013
Price$50.45
Market Cap$15.00B
Ent Value$14.85B
P/E Ratio24.49x
Book Value$6.47
Div Yield2.7%
Shares O/S296.87M
Ave Daily Vol1,620,000
Short Int6.52%

Current

Price$76.91
Market Cap$44.04B
Fastenal Company, together with its subsidiaries, operates as a wholesaler and retailer of industrial and construction supplies in the United States, Canada, and internationally. The company offers fasteners and other industrial and construction supplies under the Fastenal name. Its fastener products include threaded fasteners, such as bolts, nuts, screws, studs, and related washers, which are used in manufactured products and building projects, as well as in the maintenance and repair of machines and structures; and miscellaneous supplies and hardware consisting of various pins and machinery keys, concrete anchors, metal framing systems, wire ropes, strut products, rivets, and related accessories. The company serves the manufacturing market that comprise original equipment manufacturers, and maintenance and repair operations, as well as other users, such as farmers, truckers, railroads, mining companies, federal, state and local governmental entities, schools, and retail trades; and construction market, which include general, electrical, plumbing, sheet metal, and road contractors. As of December 31, 2012, it operated 2,700 company-owned or leased stores. Fastenal Company was founded in 1967 and is headquartered in Winona, Minnesota.

Please note, this is an update to SHORT — Fastenal Company (FAST), which was originally presented on 6/12/13. As well, this idea was updated again on 3/21/14 and can be read here: SHORT — Fastenal Company (FAST).

Highlights

Since the presentation, Fastenal (FAST) reported 3Q 2013 earnings that missed Street EPS estimates slightly (40 cents, vs. 41 cents expected). The presenter expected a slight miss, but was not sure of the magnitude of the move in the stock. Generally speaking, he remains bearish on the outlook for FAST and provided the following update on his thesis:

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Idea Discussion

Commentor 1 - 2 weeks ago

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