Aston Asset Management Lowers stake in Fastenal Company (FAST)

Fastenal Company (FAST) : Aston Asset Management reduced its stake in Fastenal Company by 0.28% during the most recent quarter end. The investment management company now holds a total of 57,794 shares of Fastenal Company which is valued at $2,510,571 after selling 162 shares in Fastenal Company , the firm said in a disclosure report filed with the SEC on Aug 11, 2016.Fastenal Company makes up approximately 1.46% of Aston Asset Management’s portfolio.

Other Hedge Funds, Including , Baillie Gifford Co boosted its stake in FAST in the latest quarter, The investment management firm added 33,752 additional shares and now holds a total of 835,653 shares of Fastenal Company which is valued at $36,300,766. Fastenal Company makes up approx 0.06% of Baillie Gifford Co’s portfolio.Aberdeen Asset Management Plcuk reduced its stake in FAST by selling 500 shares or 0.95% in the most recent quarter. The Hedge Fund company now holds 52,111 shares of FAST which is valued at $2,191,789. Fastenal Company makes up approx 0.01% of Aberdeen Asset Management Plcuk’s portfolio.Capstone Asset Management Co boosted its stake in FAST in the latest quarter, The investment management firm added 2,075 additional shares and now holds a total of 50,241 shares of Fastenal Company which is valued at $2,175,435. Fastenal Company makes up approx 0.06% of Capstone Asset Management Co’s portfolio.

Fastenal Company closed down -0.13 points or -0.29% at $44.03 with 11,21,742 shares getting traded on Tuesday. Post opening the session at $44.57, the shares hit an intraday low of $43.96 and an intraday high of $44.57 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

On the company’s financial health, Fastenal Company reported $0.46 EPS for the quarter, missing the analyst consensus estimate by $ -0.02 based on the information available during the earnings call on Jul 12, 2016. Analyst had a consensus of $0.48. The company had revenue of $1014.30 million for the quarter, compared to analysts expectations of $1023.17 million. The company’s revenue was up 1.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.48 EPS.

Many Wall Street Analysts have commented on Fastenal Company. Morgan Stanley Initiated Fastenal Company on Jul 7, 2016 to “Equal-Weight”, Price Target of the shares are set at $46.Fastenal Company was Resumed by Credit Suisse to “Neutral” on Jun 17, 2016.

Fastenal Company sells industrial and construction supplies to end-users (business-to-business) and also has some walk-in retail business. The Company’s product offerings include fasteners and other industrial and construction supplies many of which are sold under the Fastenal product name. The Company’s product line which it refers to as the fastener product line consists of two categories: threaded fasteners such as bolts nuts screws studs and related washers and miscellaneous supplies and hardware such as various pins and machinery keys concrete anchors metal framing systems wire rope strut rivets and related accessories. The Company’s product line includes fasteners cutting tools tools hydraulics and pneumatics material handling janitorial supplies electrical supplies welding supplies safety supplies metals direct ship and office supplies. It operates approximately 14 distribution centers in North America.

Comments (0)

Leave a Reply

Your email address will not be published. Required fields are marked *