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Middlebury woman to ring NASDAQ opening bell Monday

The northern Indiana district manager for Fastenal earned the honor of opening trading Monday, Aug. 18, on the NASDAQ stock exchange after her company exceeded its quarterly sales goal by 201 percent.

 

Posted on Aug. 15, 2014 at 6:27 a.m.

ELKHART — A Middlebury woman will ring the bell to begin the day’s trading Monday, Aug. 18, on the NASDAQ exchange in New York City, thanks to her company’s strong performance in this year’s first quarter.

Katy Pickett is the northern Indiana district manager for Fastenal (NASDAQ symbol FAST), an industrial products distributor. She said she won the honor because her district’s sales exceeded their quarterly goal by 201 percent, the highest mark of any Fastenal district in the nation. The Winona, Minn.-based company, with $3.3 billion in annual sales, set the goals for each district.

Pickett said her district, with 67 sales representatives working out of an office in Elkhart, typically is among the company’s leaders. Although the company offers a full line of industrial products, this contest was specifically for fasteners, essentially meaning nuts and bolts.

Of course, it helps to have a lot of manufacturing in the South Bend and Elkhart areas, but Pickett noted that a significant number of the district’s clients saw flat sales this year compared to the year prior. That means they achieved the growth by stealing market share from their competitors. In this area, that includes Wesco International, American Bolt & Screw, Grainger and MSC.

Pickett said Grainger is the largest player nationally, but ABS has the most market share locally.

Pickett, 36, has been with Fastenal for 13 years.

"I took it as an internship,“ she said. ”I thought it would be a summer deal in college. I fell in love with the company, got promoted and worked my way up.“

She said she’s excited to see New York for the first time. She’ll make the trip with Justin Davis, one of her top-performing sales representatives, leaving Saturday, Aug. 16, and returning Tuesday, Aug. 19.

"My sales team is outstanding,“ she said. ”They work hard, they’re committed to our customers. Plus I kept them updated weekly as to where we stood. When I heard what the contest was, I was like, ’I’m sure we will win this.’“




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