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Construction supply company Fastenal’s board of directors has authorized the company to purchase up to an additional 1 million shares of its common stock this week.
The company has purchased approximately 2.1 million shares this year to date.
The company has approximately 149 million shares of common stock outstanding, and these repurchases have consumed all of the previous stock repurchase authorizations.
Winona, Minn.-based Fastenal sells industrial and construction supplies and has 2,150 stores in the United States, Canada, Puerto Rico, Mexico and Singapore.