Fastenal Company (FAST): Today's Featured Industrial Goods Winner

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

Fastenal Company ( FAST) pushed the Industrial Goods sector higher today making it today's featured industrial goods winner. The sector as a whole was unchanged today. By the end of trading, Fastenal Company rose $0.61 (1.3%) to $46.67 on heavy volume. Throughout the day, 3,735,565 shares of Fastenal Company exchanged hands as compared to its average daily volume of 1,904,200 shares. The stock ranged in a price between $45.85-$46.78 after having opened the day at $46.00 as compared to the previous trading day's close of $46.06. Other companies within the Industrial Goods sector that increased today were: Hydrogenics Corporation ( HYGS), up 8.8%, LSI Industries ( LYTS), up 7.3%, Altair Nanotechnologies ( ALTI), up 6.9% and Real Goods Solar ( RSOL), up 6.9%.

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. Fastenal Company has a market cap of $14.3 billion and is part of the materials & construction industry. The company has a P/E ratio of 31.9, above the S&P 500 P/E ratio of 17.7. Shares are down 3.0% year to date as of the close of trading on Wednesday. Currently there are 3 analysts that rate Fastenal Company a buy, 1 analyst rates it a sell, and 6 rate it a hold.

TheStreet Ratings rates Fastenal Company 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 has had lackluster performance in the stock itself.

On the negative front, MagneGas Corporation ( MNGA), down 16.1%, Clarcor ( CLC), down 9.0%, Generac Holdings ( GNRC), down 7.9% and Caesarstone Sdot-Yam ( CSTE), down 5.0% , were all laggards within the industrial goods sector with AGCO ( AGCO) being today's industrial goods sector laggard.

For investors not wanting singular stock exposure, ETFs may be of interest. Investors who are bullish on the industrial goods sector could consider Industrial Select Sector SPDR ( XLI) while those bearish on the industrial goods sector could consider ProShares Short Dow 30 ( DOG).

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