Fastenal Company (FAST) : Boston Research Management Inc scooped up 1,200 additional shares in Fastenal Company during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 10, 2016. The investment management firm now holds a total of 67,570 shares of Fastenal Company which is valued at $2,935,241.Fastenal Company makes up approximately 1.72% of Boston Research Management Inc’s portfolio.
Other Hedge Funds, Including , Reliance Trust Co Of Delaware reduced its stake in FAST by selling 199 shares or 1.06% in the most recent quarter. The Hedge Fund company now holds 18,581 shares of FAST which is valued at $807,159. Fastenal Company makes up approx 0.07% of Reliance Trust Co Of Delaware’s portfolio. Herndon Capital Management added FAST to its portfolio by purchasing 27 company shares during the most recent quarter which is valued at $1,154.Louisiana State Employees Retirement System reduced its stake in FAST by selling 300 shares or 1.55% in the most recent quarter. The Hedge Fund company now holds 19,000 shares of FAST which is valued at $796,100. Fastenal Company makes up approx 0.04% of Louisiana State Employees Retirement System’s portfolio.
Fastenal Company opened for trading at $43.75 and hit $44.045 on the upside on Friday, eventually ending the session at $44, with a gain of 0.25% or 0.11 points. The heightened volatility saw the trading volume jump to 11,13,757 shares. Company has a market cap of $12,715 M.
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.