Route One Investment Company buys $166,764,509 stake in Fastenal Company (FAST)

Fastenal Company (FAST) : Route One Investment Company scooped up 327,655 additional shares in Fastenal Company during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 12, 2016. The investment management firm now holds a total of 3,838,962 shares of Fastenal Company which is valued at $166,764,509.Fastenal Company makes up approximately 8.92% of Route One Investment Company’s portfolio.

Other Hedge Funds, Including , Barrington Strategic Wealth Management Group reduced its stake in FAST by selling 740 shares or 3.0% in the most recent quarter. The Hedge Fund company now holds 23,935 shares of FAST which is valued at $1,039,736. Fastenal Company makes up approx 0.58% of Barrington Strategic Wealth Management Group’s portfolio.State Of Wisconsin Investment Board reduced its stake in FAST by selling 13,390 shares or 18.35% in the most recent quarter. The Hedge Fund company now holds 59,564 shares of FAST which is valued at $2,587,460. Fastenal Company makes up approx 0.01% of State Of Wisconsin Investment Board’s portfolio.New York State Common Retirement Fund boosted its stake in FAST in the latest quarter, The investment management firm added 88,100 additional shares and now holds a total of 958,800 shares of Fastenal Company which is valued at $41,650,272. Fastenal Company makes up approx 0.06% of New York State Common Retirement Fund’s portfolio.Commonwealth Equity Services Inc boosted its stake in FAST in the latest quarter, The investment management firm added 72,860 additional shares and now holds a total of 121,110 shares of Fastenal Company which is valued at $5,191,986. Fastenal Company makes up approx 0.04% of Commonwealth Equity Services Inc’s portfolio. Sanders Morris Harris sold out all of its stake in FAST during the most recent quarter. The investment firm sold 41,922 shares of FAST which is valued $1,756,532.

Fastenal Company opened for trading at $43.7 and hit $44.04 on the upside on Monday, eventually ending the session at $44, with a gain of 0.57% or 0.25 points. The heightened volatility saw the trading volume jump to 8,89,972 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. Macquarie Initiated Fastenal Company on Aug 26, 2016 to “Neutral”, Price Target of the shares are set at $50.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.

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