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Fastenal missed quarterly profit, sales, and operating profit margin estimates, which it attributed to weaker demand because of a soft manufacturing sector.
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Fastenal Co. shares rose 7.2% Thursday to close at an all-time high as the biggest U.S. supplier of fasteners beat profit and sales estimates.
These three dividend stocks to buy and hold don’t all have high dividend yields, but they manage to deliver for shareholders anyway.
Investors need to be patient before buying aggressively into the industrial sector on the basis of sales data.
Fastenal shares jumped after the maker of fasteners and other construction and hardware equipment beat profit forecasts.