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FAST · Analysis updated Nov 10, 2026, 6:00 PM ET
Why is Fastenal Co (FAST) stock moving?
FAST has risen steadily over the last two weeks, from a 30-day low of $50.69 on Oct 22 to a close of $54.84 on Nov 10, which sits near the 30-day high of $54.99 set on Nov 9. Volume rose on the advance: 10.8M shares on Nov 4 and 12.0M on Nov 5 were followed by a rally of 2.9% on 7.5M shares on Nov 9. On Nov 5 the stock hit an intraday high of $54.96 but closed at $52.90, so the rally has been tested rather than one-directional. The Nov 10 close of $54.84 sits just under the session high of $54.97 and above the VWAP of $54.68, which suggests buyers held control into the close. The news flow is thin. The Oct 14 results 8-K and the Oct 19 10-Q carry no figures in the text provided, and the Oct 28 Benzinga piece is historical performance context. No dated catalyst inside the window explains the move, so the trend is the main evidence.
News behind the analysis
- $1000 Invested In Fastenal 10 Years Ago Would Be Worth This Much TodayBenzinga reports Fastenal outperformed the market over 10 years by 4.4% annualized, with an 18.22% average annual return and a $59.14B market capitalization. The piece is historical performance context, not a new company event.
- 8-K (results of operations, exhibits)Fastenal filed an 8-K on Oct 14 under Item 2.02 announcing results for its most recently ended fiscal quarter, with the press release attached as Exhibit 99.1. The filing text provided does not include the results figures.
- 10-QFastenal filed its quarterly report on Oct 19. The filing text was not included, so no figures are drawn from it.
About Fastenal Co
Fastenal is a Minnesota-based wholesale distributor of industrial and construction supplies such as fasteners, safety gear, tools and cutting products, selling mainly to manufacturers and contractors. What sets it apart is its 'Onsite' model, where branches sit inside customer facilities, along with a large network of FASTBin and FASTVend inventory-management devices (vending machines and smart bins) placed at customer sites.
How it makes money
It makes money on the markup of the supplies it sells, with a gross margin of about 45%. Quarterly sales were roughly $2.5 billion in Q3 2026, up about 15% from a year earlier. About 76% of sales come from contract customers, mostly larger manufacturers in heavy industry. More than 61% of sales go through digital channels: its on-site vending and bin devices plus eBusiness. Fasteners are its historic core, but safety products and other consumable supplies now make up most of its revenue. It also pays a quarterly dividend, most recently about $0.26 a share.
What usually moves FAST
- US industrial production and manufacturing activity
- New Onsite and contract customer signings
- FASTBin/FASTVend device installations
- Pricing and tariff-related cost changes, including steel
- Gross margin and operating expense control