Saddle Road Partners buys $261,186 stake in Fastenal Company (FAST)

Fastenal Company (FAST) : Saddle Road Partners scooped up 3,758 additional shares in Fastenal Company during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Apr 21, 2016. The investment management firm now holds a total of 5,724 shares of Fastenal Company which is valued at $261,186.Fastenal Company makes up approximately 0.06% of Saddle Road Partners’s portfolio.

Fastenal Company opened for trading at $46.45 and hit $47.5 on the upside on Wednesday, eventually ending the session at $47.44, with a gain of 2.07% or 0.96 points. The heightened volatility saw the trading volume jump to 50,23,062 shares. Company has a market cap of $13,705 M.

Other Hedge Funds, Including , Alta Capital Management boosted its stake in FAST in the latest quarter, The investment management firm added 198,103 additional shares and now holds a total of 938,686 shares of Fastenal Company which is valued at $42,832,242. Fastenal Company makes up approx 2.62% of Alta Capital Management’s portfolio.Bath Savings Trust Co reduced its stake in FAST by selling 380 shares or 6.46% in the most recent quarter. The Hedge Fund company now holds 5,505 shares of FAST which is valued at $252,184. Fastenal Company makes up approx 0.08% of Bath Savings Trust Co’s portfolio.Capital Investment Services Of America reduced its stake in FAST by selling 2,200 shares or 0.98% in the most recent quarter. The Hedge Fund company now holds 222,803 shares of FAST which is valued at $10,458,373. Fastenal Company makes up approx 2.01% of Capital Investment Services Of America’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 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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