Shares of Fastenal Co., (NASDAQ:FAST) a leading distributor of industrial supplies, rose during the first quarter after reporting improving sales trends to start the year. We view the sequential strengthening of sales as evidence of abating energy and F/X headwinds as well as share gains in manufacturing and construction end markets. Based on several growth initiatives, including Vending and On-Site programs, we believe Fastenal is poised to deliver outstanding customer service to its key accounts and generate accelerating earnings growth over the next two years. (Matt Weiss)
From Baron Partners Fund first quarter 2016 commentary.
