Hussman Strategic Advisors adds Fastenal Company (FAST) to its portfolio

Fastenal Company (FAST) : Hussman Strategic Advisors added new position in Fastenal Company during the most recent quarter end. The investment management firm now holds 177,900 shares of Fastenal Company which is valued at $7,482,474 , the company said in a statement filed on Aug 1, 2016 with the SEC.Fastenal Company makes up approximately 1.10% of Hussman Strategic Advisors’s portfolio.

Other Hedge Funds, Including , Integrated Wealth Management boosted its stake in FAST in the latest quarter, The investment management firm added 1,612 additional shares and now holds a total of 3,610 shares of Fastenal Company which is valued at $151,837. Fastenal Company makes up approx 0.06% of Integrated Wealth Management’s portfolio.Eads Heald Investment Counsel reduced its stake in FAST by selling 405 shares or 2.18% in the most recent quarter. The Hedge Fund company now holds 18,144 shares of FAST which is valued at $775,656. Fastenal Company makes up approx 0.52% of Eads Heald Investment Counsel’s portfolio.Strs Ohio boosted its stake in FAST in the latest quarter, The investment management firm added 11,197 additional shares and now holds a total of 23,561 shares of Fastenal Company which is valued at $987,206.

Fastenal Company opened for trading at $42.8 and hit $43.235 on the upside on Thursday, eventually ending the session at $42.4, with a gain of 0.81% or 0.34 points. The heightened volatility saw the trading volume jump to 38,77,617 shares. Company has a market cap of $12,252 M.

On the company’s financial health, Fastenal Company reported $0.46 EPS for the quarter, missing the analyst consensus estimate by $ -0.02 based on the information available during the earnings call on Jul 12, 2016. Analyst had a consensus of $0.48. The company had revenue of $1014.30 million for the quarter, compared to analysts expectations of $1023.17 million. The company’s revenue was up 1.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.48 EPS.

Many Wall Street Analysts have commented on Fastenal Company. Morgan Stanley Initiated Fastenal Company on Jul 7, 2016 to “Equal-Weight”, Price Target of the shares are set at $46.Fastenal Company was Resumed by Credit Suisse to “Neutral” on Jun 17, 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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