Willard Oberton, CEO of Fastenal Company, bought 2,000 shares of Fastenal Company (Stock Symbol: FAST) at $45.14 per share for a total amount of $90.3 thousand on July 15, 2014.
Fastenal Company is based in Winona, Minnesota.
On July 10th, 2014, Fastenal Company reported its Board of Directors declared a dividend of $0.25 per share to be paid in cash on August 22, 2014 to shareholders of record at the close of business on July 25, 2014.
On July 11, 2014, Fastenal Company announced its latest quarterly results. In July 2013, they disclosed their intention to increase our investment in people at the store level and in additional leadership personnel at the district and regional levels. They felt this expanded investment was necessary to add ‘selling energy’ to the organization. With expanded investment, comes expanded expectations – in July 2013 they grew average daily sales over the same month in the preceding year in the low single digits, in June 2014 they grew average daily sales over the same month in the preceding year by 12.7%.
According to Capital IQ, Fastenal Company has a market cap of $13.33 billion, an enterprise value of $13.30 billion, and trailing 12 month revenues of $29.56 million.
Fastenal Company, together with its subsidiaries, operates as a wholesaler and retailer of industrial and construction supplies in the United States, Canada, and internationally. The company offers fasteners and other industrial and construction supplies under the Fastenal name. Its fastener products include threaded fasteners, such as bolts, nuts, screws, studs, and related washers, which are used in manufactured products and building projects, as well as in the maintenance and repair of machines and structures; and miscellaneous supplies and hardware consisting of various pins and machinery keys, concrete anchors, metal framing systems, wire ropes, strut products, rivets, and related accessories. The company serves the manufacturing market that comprise original equipment manufacturers, and maintenance and repair operations, as well as other users, such as farmers, truckers, railroads, mining companies, federal, state and local governmental entities, schools, and retail trades; and construction market, which include general, electrical, plumbing, sheet metal, and road contractors. As of December 31, 2012, it operated 2,700 company-owned or leased stores. Fastenal Company was founded in 1967 and is headquartered in Winona, Minnesota.
Willard Oberton’s most recent annual compensation from Fastenal Company is a salary of $790,296, $4,465 in other compensation, and a total compensation of $794,761. Mr. Oberton is 55 years old.
According to his biography, Mr. Willard D. Oberton is Chairman of the Board, Chief Executive Officer of Fastenal Co. He has been the company’s chief executive officer since December 2002. He also served as the company’s president from July 2001 through July 2012 when he relinquished that position. He began his business career with Fastenal in January 1980, and was promoted to branch manager, then district manager, and later to general operations manager. He served as our vice-president from March 1997 through June 2000, as our executive vice-president from June 2000 through July 2001, and as our chief operating officer from March 1997 through December 2002. Mr. Oberton’s professional career has grown from within Fastenal as he has successfully worked, managed, and provided leadership to most of the departments and disciplines integral to the company’s growth and financial success. This varied experience with the company gives him unique insights into the company’s ‘success drivers’ and in developing and leading the execution of the company’s strategy. He truly epitomizes Fastenal’s philosophy of ‘promotion from within whenever possible’. In addition, Mr. Oberton serves on the board of directors of publicly-held Donaldson Company, which gives him useful insight into another organization’s corporate governance, compensation planning, and strategic development. Also, he serves on the board of WinCraft Inc., a privately-held company involved in manufacturing and distributing promotional marketing merchandise, which are important disciplines helpful to successfully managing Fastenal. Additionally, he has served on the boards of various community and educational organizations, including the board of trustees of St. Benedict’s College, St. Joseph, Minnesota.
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