Mandatum Life Insurance Co Ltd Lowers stake in Fastenal Company (FAST)

Fastenal Company (FAST) : Mandatum Life Insurance Co Ltd reduced its stake in Fastenal Company by 1.19% during the most recent quarter end. The investment management company now holds a total of 74,439 shares of Fastenal Company which is valued at $3.4 Million after selling 900 shares in Fastenal Company , the firm said in a disclosure report filed with the SEC on May 11, 2016.Fastenal Company makes up approximately 0.46% of Mandatum Life Insurance Co Ltd’s portfolio.

Other Hedge Funds, Including , Amalgamated Bank boosted its stake in FAST in the latest quarter, The investment management firm added 2,774 additional shares and now holds a total of 11,643 shares of Fastenal Company which is valued at $529,524. Fastenal Company makes up approx 0.05% of Amalgamated Bank’s portfolio.Commonwealth Of Pennsylvania Public School Empls Retrmt Sys boosted its stake in FAST in the latest quarter, The investment management firm added 2,484 additional shares and now holds a total of 21,411 shares of Fastenal Company which is valued at $973,772. Fastenal Company makes up approx 0.02% of Commonwealth Of Pennsylvania Public School Empls Retrmt Sys’s portfolio. Bank Of Hawaii added FAST to its portfolio by purchasing 17,660 company shares during the most recent quarter which is valued at $826,311. Fastenal Company makes up approx 0.09% of Bank Of Hawaii’s portfolio.Sawtooth Asset Management reduced its stake in FAST by selling 44,738 shares or 88.87% in the most recent quarter. The Hedge Fund company now holds 5,601 shares of FAST which is valued at $262,071. Fastenal Company makes up approx 0.16% of Sawtooth Asset Management’s portfolio.

Fastenal Company opened for trading at $45.62 and hit $46.1 on the upside on Monday, eventually ending the session at $45.72, with a gain of 0.53% or 0.24 points. The heightened volatility saw the trading volume jump to 22,27,018 shares. Company has a market cap of $13,208 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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