FAST Fastenal Company

Fastenal Co. (FAST) approved a two-for-one stock split, a move that generally makes shares more attractive to a larger group of investors.

Fastenal, which sells fasteners, office products and other industrial and construction supplies, has seen results improve the past several quarters as its manufacturing customers snap out of their recessionary slumps. It reported last week its first-quarter profit rose sharply on improved margins and stronger sales at each of its customer segments.

Fastenal had about 147.4 million shares outstanding as of Tuesday. The split will take place May 20.

Shares were recently down 27 cents to $63.47 Tuesday. The stock has gained 16% over the past 12 months.

-By Drew FitzGerald, Dow Jones Newswires; 212-416-2909; Andrew.FitzGerald@dowjones.com