Industrial vending and on-site programs support a long growth runway for wide-moat Fastenal.
Fastenal’s impressive sales growth was the highlight of the company’s third-quarter results, in our view. The wide-moat industrial distributor grew reported sales 11.8% year over year, and daily sales (which adjusts for one less business day in third-quarter 2017 versus third-quarter 2016) were up 13.6%. Daily sales growth accelerated through the third quarter and culminated with 15.3% year-over-year growth in September. Still, Fastenal’s gross margin, which contracted 20 basis points year over ...Fastenal is engaged in the wholesale distribution of industrial and construction supplies. The company is a distributor of fasteners and related industrial and construction supplies. This includes threaded fasteners, bolts, nuts, screws, studs, and related washers, as well as miscellaneous supplies and hardware, such as pins, machinery keys, concrete anchors, metal framing systems, wire rope, strut, rivets, and related accessories. The company's fastener product line is primarily sold under the Fastenal product name.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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