WINONA, Minn. – President Trump’s chaotic, ever-shifting and poorly explained tariff attacks on almost every nation continued wreaking havoc on financial markets worldwide. Not unaffected has been Winona- based Fastenal, a construction supplies distributor. Fastenal stock on the New York Stock Exchange dropped to $73.56 at mid-day before rising to $72.29 when the exchange closed for the day. All this was roughly was in a range 20% below the company’s 2-week high.
> 52-week high: $84.88.
> Friday: $75.42.
> Monday: $72.16.
> Tuesday: $71.20.
> Wednesday: $76.47.
> Thursday: $75.79.
The whipsaw on Thursday:
Opening price: $76.47.
Low at 12:30 p.m.: $73.56.
Close: $75.79.
Despite stock market uncertaintes, Fastenal’s governing board declared a quarterly dividend of 44 cents a share on Thursday. The board also named Sheryl Lisowski as interim chief financial officer. She will continue also as a vice president. Her new salary was not announced. Fastenal vice presidents are paid $174,000 to $310,000.
Fastenal investors
Fastenal has been a favorite of local Winona investors, some of whom bought in at $9 a share when the company went public in 1987. The ownership, however, is 84% with far-away institutional investors. A total of 21 of investors together have a majority stake in the company with 50% ownership.