Marshfield Associates buys $84,038,981 stake in Fastenal Company (FAST)

Fastenal Company (FAST) : Marshfield Associates scooped up 19,380 additional shares in Fastenal Company during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 15, 2016. The investment management firm now holds a total of 1,934,599 shares of Fastenal Company which is valued at $84,038,981.Fastenal Company makes up approximately 5.69% of Marshfield Associates’s portfolio.

Other Hedge Funds, Including , Winfield Associates reduced its stake in FAST by selling 200 shares or 18.18% in the most recent quarter. The Hedge Fund company now holds 900 shares of FAST which is valued at $39,096. Fastenal Company makes up approx 0.02% of Winfield Associates’s portfolio.Mitsubishi Ufj Trust Banking Corp boosted its stake in FAST in the latest quarter, The investment management firm added 10,814 additional shares and now holds a total of 1,123,135 shares of Fastenal Company which is valued at $48,788,984. Fastenal Company makes up approx 0.10% of Mitsubishi Ufj Trust Banking Corp’s portfolio.Geneva Advisors reduced its stake in FAST by selling 437 shares or 1.04% in the most recent quarter. The Hedge Fund company now holds 41,437 shares of FAST which is valued at $1,800,023. Fastenal Company makes up approx 0.03% of Geneva Advisors’s portfolio.State Board Of Administration Of Florida Retirement System boosted its stake in FAST in the latest quarter, The investment management firm added 57,555 additional shares and now holds a total of 440,583 shares of Fastenal Company which is valued at $18,887,793. Fastenal Company makes up approx 0.06% of State Board Of Administration Of Florida Retirement System’s portfolio.Albert D Mason Inc boosted its stake in FAST in the latest quarter, The investment management firm added 940 additional shares and now holds a total of 13,230 shares of Fastenal Company which is valued at $562,937. Fastenal Company makes up approx 0.34% of Albert D Mason Inc’s portfolio.

Fastenal Company closed down -0.29 points or -0.67% at $42.82 with 24,08,860 shares getting traded on Thursday. Post opening the session at $43.25, the shares hit an intraday low of $42.45 and an intraday high of $43.37 and the price fluctuated in this range throughout the day.Shares ended Thursday 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. Macquarie Initiated Fastenal Company on Aug 26, 2016 to “Neutral”, Price Target of the shares are set at $50.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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