Pensionfund Sabic Exits Position in Fastenal Company (FAST)

Fastenal Company (FAST) : Pensionfund Sabic has sold out all of its stake in Fastenal Company during the most recent quarter, according to a report filed by the company on Apr 4, 2016 with the SEC. The investment management company has sold out 37,000 shares of Fastenal Company which is valued at $1.7 Million.

Other Hedge Funds, Including , Pensionfund Dsm Netherlands sold out all of its stake in FAST during the most recent quarter. The investment firm sold 76,000 shares of FAST which is valued $3.6 Million.Beacon Financial Group reduced its stake in FAST by selling 130 shares or 0.14% in the most recent quarter. The Hedge Fund company now holds 95,007 shares of FAST which is valued at $4.6 Million. Fastenal Company makes up approx 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.

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