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Fastenal Company (FAST) traded on unusually high volume on Jul. 11, as the stock gained 10.05% to close at $54.51. On the day, Fastenal Company saw 26.29 million shares trade hands on 140,586 trades. Considering that the stock averages only a daily volume of 2.67 million shares a day over the last month, this represents a pretty significant bump in volume over the norm.
Generally speaking, when a stock experiences a sudden spike in trading volume, it may be seen as a bullish signal for investors. An increase in volume means more market awareness for the company, potentially setting up a more meaningful move in stock price. The added volume also provides a level of support and stability for price advances.
The stock has traded between $58.74 and $39.79 over the last 52-weeks, its 50-day SMA is now $51.47, and its 200-day SMA $51.29. Fastenal Company has a P/B ratio of 7.22. It also has a P/E ratio of 22.9.
Fastenal Co is an industrial supplies company. It distributes maintains, repairs, and operates supplies to industrial and construction customers. Its product portfolio includes OEM fasteners, safety products, tools and equipment.
Headquartered in Winona, MN, Fastenal Company has 21,002 employees and is currently under the leadership of CEO Daniel L. Florness.
For a complete fundamental analysis analysis of Fastenal Company, check out Equities.com’s Stock Valuation Analysis report for FAST.
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All data provided by QuoteMedia and was accurate as of 4:30PM ET.
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