By Kathryn Hardison
Fastenal Co.’s board of administrators has accepted repurchases for as much as an extra eight million shares of its widespread inventory.
The corporate mentioned Tuesday that the buyback authorization does not have an expiration date. The share buyback is on prime of the remaining authority Fastenal had as of June 30 to repurchase one other 2.2 million shares.
The corporate mentioned it repurchased 1 million shares in its second quarter.
Fastenal, a distributor of fasteners, instruments and different provides, is scheduled to report its second-quarter earnings Wednesday morning, in accordance with FactSet.
Write to Kathryn Hardison at kathryn.hardison@wsj.com
