Peregrine Asset Advisers adds Fastenal Company (FAST) to its portfolio

Fastenal Company (FAST) : Peregrine Asset Advisers added new position in Fastenal Company during the most recent quarter end. The investment management firm now holds 131,771 shares of Fastenal Company which is valued at $5,724,132 , the company said in a statement filed on Aug 15, 2016 with the SEC.Fastenal Company makes up approximately 4.02% of Peregrine Asset Advisers’s portfolio.

Other Hedge Funds, Including , Laffer Investments sold out all of its stake in FAST during the most recent quarter. The investment firm sold 37,895 shares of FAST which is valued $1,646,159.Brown Capital Management boosted its stake in FAST in the latest quarter, The investment management firm added 41,478 additional shares and now holds a total of 46,123 shares of Fastenal Company which is valued at $1,977,293. Fastenal Company makes up approx 0.03% of Brown Capital Management’s portfolio.Roberts Glore Co Inc Il reduced its stake in FAST by selling 148 shares or 2.65% in the most recent quarter. The Hedge Fund company now holds 5,436 shares of FAST which is valued at $232,389. Fastenal Company makes up approx 0.17% of Roberts Glore Co Inc Il’s portfolio.Armstrong Henry H Associates Inc boosted its stake in FAST in the latest quarter, The investment management firm added 12,300 additional shares and now holds a total of 35,825 shares of Fastenal Company which is valued at $1,501,068. Fastenal Company makes up approx 0.29% of Armstrong Henry H Associates 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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