Boston Research Management Inc buys $3 Million stake in Fastenal Company (FAST)

Fastenal Company (FAST) : Boston Research Management Inc scooped up 7,185 additional shares in Fastenal Company during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 13, 2016. The investment management firm now holds a total of 66,370 shares of Fastenal Company which is valued at $3 Million.Fastenal Company makes up approximately 1.89% of Boston Research Management Inc’s portfolio.

Other Hedge Funds, Including , Nicholas Co Inc Wi boosted its stake in FAST in the latest quarter, The investment management firm added 1,560 additional shares and now holds a total of 311,125 shares of Fastenal Company which is valued at $14.1 Million. Fastenal Company makes up approx 0.29% of Nicholas Co Inc Wi’s portfolio.Stearns Financial Services Group boosted its stake in FAST in the latest quarter, The investment management firm added 140 additional shares and now holds a total of 9,801 shares of Fastenal Company which is valued at $445,749. Fastenal Company makes up approx 0.13% of Stearns Financial Services Group’s portfolio.Ibm Retirement Fund reduced its stake in FAST by selling 36,572 shares or 51.38% in the most recent quarter. The Hedge Fund company now holds 34,602 shares of FAST which is valued at $1.6 Million. Fastenal Company makes up approx 0.06% of Ibm Retirement Fund’s portfolio.First Mercantile Trust Co boosted its stake in FAST in the latest quarter, The investment management firm added 12,771 additional shares and now holds a total of 129,483 shares of Fastenal Company which is valued at $6.1 Million. Fastenal Company makes up approx 0.73% of First Mercantile Trust Co’s portfolio.

Fastenal Company opened for trading at $45.76 and hit $46.05 on the upside on Wednesday, eventually ending the session at $45.94, with a gain of 0.53% or 0.24 points. The heightened volatility saw the trading volume jump to 18,81,901 shares. Company has a market cap of $13,271 M.

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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