Fastenal Q2 Earnings: Stock Fairly Valued As Manufacturing Outlook Remains Soft

Those monitoring the macroeconomic landscape for clues on whether a slowdown is on the horizon can look no further than Fastenal's (NASDAQ:FAST) earnings results. With more than 80% of its sales coming from the manufacturing and construction sectors, FAST stock remains a reliable proxy for the health of the broader industrial economy. In my view, today's earnings results show continuing softness in a key sector of the economy. In prior coverage on FAST, I've maintained neutral positioning due to a combinati ...