Winona-based Fastenal posted fourth-quarter profit below analysts’ estimates on Friday, as a sustained slowdown in construction sector dented demand for its fasteners and other safety products. Its stock price dropped 5.7 percent afterward. The company says U.S. construction activity has slowed due to increased financing costs for big projects amid higher interest rates, hurting demand for industrial supplies. (More on this its recent performance here.) The company also declared a dividend of $0.43 per share to be paid in cash on February 28, 2025 to shareholders of record at the close of business on January 31, 2025. (More on this here.)
Fastenal Profit Comes in Below Analyst Expectations, Declares Cash Dividend
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