Fastenal Rises On Unusually High Volume (FAST)

NEW YORK ( TheStreet) -- Fastenal Company (Nasdaq: FAST) is trading at unusually high volume Thursday with 3.9 million shares changing hands. It is currently at 2.3 times its average daily volume and trading up 97 cents (+2.1%) at $46.74 as of 3:31 p.m. ET.

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Fastenal has a market cap of $13.97 billion and is part of the industrial goods sector and materials & construction industry. Shares are down 1.9% year to date as of the close of trading on Wednesday.

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.

TheStreet Ratings rates Fastenal as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, notable return on equity, expanding profit margins and growth in earnings per share. We feel these strengths outweigh the fact that the company is trading at a premium valuation based on our review of its current price compared to such things as earnings and book value. You can view the full Fastenal Ratings Report.

See all heavy volume stocks in our stocks moving on unusual volume list or get investment ideas from our investment research center.

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