FASTENAL COMPANY (NASDAQ:FAST) Files An 8-K Other EventsItem 8.01. Other Events
On July 11, 2017, the board of directors of Fastenal Company (the 'Company') authorized repurchases by the Company of up to 5,000,000 shares of its common stock.
As previously disclosed, the Company purchased 1,300,000 shares of its common stock during the second quarter of 2017. These purchases exhausted the then-remaining stock purchase authorization. With the July 11, 2017 authorization, the Company currently has authority to repurchase up to a total of 5,000,000 shares of its common stock. This authorization does not have an expiration date.
About FASTENAL COMPANY (NASDAQ:FAST)
Fastenal Company is engaged in wholesale distribution of industrial and construction supplies. The Company distributes these supplies through a network of approximately 2,600 Company-owned stores. The Company sells industrial and construction supplies to end users (business-to-business), and also has a walk-in retail business. The Company operates approximately 10 distribution centers in North America. The Company’s original product offerings were fasteners and other industrial and construction supplies, many of which are sold under the Fastenal product name. The Company’s product line consists of approximately two categories, including threaded fasteners, such as bolts, nuts, screws, studs and related washers, and miscellaneous supplies and hardware, such as various pins and machinery keys, concrete anchors, metal framing systems, wire rope, strut, rivets and related accessories. Its customers are in the manufacturing and non-residential construction markets.
