Fastenal Company (FAST) : Ruane Cunniff Goldfarb Inc reduced its stake in Fastenal Company by 34.28% during the most recent quarter end. The investment management company now holds a total of 12,100,933 shares of Fastenal Company which is valued at $520,098,100 after selling 6,311,239 shares in Fastenal Company , the firm said in a disclosure report filed with the SEC on Jul 15, 2016.Fastenal Company makes up approximately 4.80% of Ruane Cunniff Goldfarb Inc’s portfolio.
Other Hedge Funds, Including , Arcadia Investment Management Corpmi reduced its stake in FAST by selling 6,100 shares or 4.57% in the most recent quarter. The Hedge Fund company now holds 127,256 shares of FAST which is valued at $5,469,463. Fastenal Company makes up approx 1.73% of Arcadia Investment Management Corpmi’s portfolio.Beacon Financial Group reduced its stake in FAST by selling 228 shares or 0.24% in the most recent quarter. The Hedge Fund company now holds 94,779 shares of FAST which is valued at $4,103,931. Fastenal Company makes up approx 0.86% of Beacon Financial Group’s portfolio.Pacwest Financial Management Inc boosted its stake in FAST in the latest quarter, The investment management firm added 265 additional shares and now holds a total of 36,845 shares of Fastenal Company which is valued at $1,595,389. Fastenal Company makes up approx 0.97% of Pacwest Financial Management Inc’s portfolio.Raymond James Trust N.a. reduced its stake in FAST by selling 338 shares or 1.96% in the most recent quarter. The Hedge Fund company now holds 16,886 shares of FAST which is valued at $763,754. Fastenal Company makes up approx 0.06% of Raymond James Trust N.a.’s portfolio.Integrated Investment Consultants boosted its stake in FAST in the latest quarter, The investment management firm added 1,150 additional shares and now holds a total of 7,435 shares of Fastenal Company which is valued at $329,965. Fastenal Company makes up approx 0.17% of Integrated Investment Consultants’s portfolio.
Fastenal Company closed down -0.47 points or -1.08% at $42.98 with 25,70,748 shares getting traded on Monday. Post opening the session at $43.36, the shares hit an intraday low of $42.93 and an intraday high of $43.44 and the price fluctuated in this range throughout the day.Shares ended Monday 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.
Investors should note that on Jul 12, 2016, Fastenal Company announced a cash dividend of $0.3000. The company’s management has announced Jul 22, 2016 as the ex-dividend date and fixed the record date on Jul 26, 2016. The payable date has been fixed on Aug 23, 2016.
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.