Fastenal Company (FAST) : Beacon Financial Group reduced its stake in Fastenal Company by 0.14% during the most recent quarter end. The investment management company now holds a total of 95,007 shares of Fastenal Company which is valued at $4.6 Million after selling 130 shares in Fastenal Company according to a report filed by the company on Apr 1, 2016 with the SEC.Fastenal Company makes up approximately 1.00% of Beacon Financial Group’s portfolio.
On the company’s financial health, Fastenal Company reported $0.44 EPS for the quarter, based on the information available during the earnings call on Apr 12, 2016. Analyst had a consensus estimate of $0.44. The company had revenue of $986.70 million for the quarter, compared to analysts expectations of $988.57 million. The company’s revenue was up 3.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.43 EPS.
Many Wall Street Analysts have commented on Fastenal Company. Company shares were Reiterated by Barclays on Apr 8, 2016 to “Underweight”, Firm has raised the Price Target to $ 38 from a previous price target of $29 .Fastenal Company was Downgraded by Stifel to ” Hold” on Apr 1, 2016. Fastenal Company was Initiated by Sterne Agee CRT to “Neutral” on Mar 22, 2016.
Fastenal Company closed down -0.19 points or -0.40% at $46.94 with 37,99,940 shares getting traded on Monday. Post opening the session at $47.31, the shares hit an intraday low of $46.8 and an intraday high of $47.615 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.
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.