Taylor Frigon Capital Management Lowers stake in Fastenal Company (FAST)

Fastenal Company (FAST) : Taylor Frigon Capital Management reduced its stake in Fastenal Company by 1.04% during the most recent quarter end. The investment management company now holds a total of 32,084 shares of Fastenal Company which is valued at $1,349,453 after selling 336 shares in Fastenal Company , the firm said in a disclosure report filed with the SEC on Aug 3, 2016.Fastenal Company makes up approximately 1.35% of Taylor Frigon Capital Management’s portfolio.

Other Hedge Funds, Including , New Mexico Educational Retirement Board boosted its stake in FAST in the latest quarter, The investment management firm added 1,600 additional shares and now holds a total of 33,638 shares of Fastenal Company which is valued at $1,414,814. Fastenal Company makes up approx 0.06% of New Mexico Educational Retirement Board’s portfolio.Provise Management Group reduced its stake in FAST by selling 750 shares or 0.84% in the most recent quarter. The Hedge Fund company now holds 88,150 shares of FAST which is valued at $3,707,589. Fastenal Company makes up approx 0.67% of Provise Management Group’s portfolio.Evercore Wealth Management reduced its stake in FAST by selling 1,375 shares or 43.93% in the most recent quarter. The Hedge Fund company now holds 1,755 shares of FAST which is valued at $73,815. British Airways Pensions Investment Management Ltd sold out all of its stake in FAST during the most recent quarter. The investment firm sold 523,239 shares of FAST which is valued $21,923,714.Creative Planning boosted its stake in FAST in the latest quarter, The investment management firm added 443 additional shares and now holds a total of 9,756 shares of Fastenal Company which is valued at $422,435.

Fastenal Company closed down -0.02 points or -0.05% at $42.85 with 16,72,776 shares getting traded on Monday. Post opening the session at $42.98, the shares hit an intraday low of $42.79 and an intraday high of $43.12 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

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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