Conning Inc. Buys 340 Shares of Fastenal Co. (FAST)
Conning Inc. boosted its stake in Fastenal Co. (NASDAQ:FAST) by 5.1% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,972 shares of the company’s stock after buying an additional 340 shares during the period. Conning Inc.’s holdings in Fastenal were worth $309,000 as of its most recent filing with the SEC.
Other hedge funds have also recently added to or reduced their stakes in the company. Genesee Valley Trust Co. raised its position in Fastenal by 2.2% in the second quarter. Genesee Valley Trust Co. now owns 27,567 shares of the company’s stock worth $1,224,000 after buying an additional 587 shares during the period. Strs Ohio raised its position in Fastenal by 90.6% in the second quarter. Strs Ohio now owns 23,561 shares of the company’s stock worth $1,045,000 after buying an additional 11,197 shares during the period. HL Financial Services LLC raised its position in Fastenal by 3.2% in the second quarter. HL Financial Services LLC now owns 1,683,802 shares of the company’s stock worth $74,744,000 after buying an additional 52,626 shares during the period. Bank of Montreal Can bought a new position in Fastenal during the second quarter worth approximately $12,211,000. Finally, Shell Asset Management Co. raised its position in Fastenal by 34.1% in the second quarter. Shell Asset Management Co. now owns 34,798 shares of the company’s stock worth $1,545,000 after buying an additional 8,843 shares during the period. 82.12% of the stock is owned by institutional investors and hedge funds.
Shares of Fastenal Co. (NASDAQ:FAST) traded down 1.68% on Tuesday, reaching $41.45. The company’s stock had a trading volume of 1,551,611 shares. The stock has a 50 day moving average of $42.03 and a 200-day moving average of $44.37. The firm has a market cap of $11.98 billion, a price-to-earnings ratio of 23.69 and a beta of 0.99. Fastenal Co. has a 12 month low of $35.10 and a 12 month high of $49.99.
Fastenal (NASDAQ:FAST) last issued its quarterly earnings data on Tuesday, July 12th. The company reported $0.45 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.48 by $0.03. Fastenal had a return on equity of 27.83% and a net margin of 12.91%. The company earned $1.01 billion during the quarter. During the same period in the previous year, the business earned $0.48 EPS. Fastenal’s revenue for the quarter was up 1.7% compared to the same quarter last year. On average, analysts anticipate that Fastenal Co. will post $1.74 EPS for the current year.
FAST has been the topic of several recent analyst reports. Morgan Stanley initiated coverage on Fastenal in a research note on Thursday, July 7th. They issued an “equal weight” rating and a $46.00 price target on the stock. Zacks Investment Research upgraded Fastenal from a “sell” rating to a “hold” rating in a research note on Tuesday, September 13th. Vetr lowered Fastenal from a “strong-buy” rating to a “hold” rating and set a $42.46 price target on the stock. in a research note on Tuesday, September 6th. Wells Fargo & Co. reiterated a “hold” rating on shares of Fastenal in a research note on Sunday, September 4th. Finally, BMO Capital Markets reiterated a “market perform” rating and issued a $47.00 price target on shares of Fastenal in a research note on Wednesday, July 13th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and two have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $47.44.
Fastenal Company Profile
Fastenal Company is engaged in wholesale distribution of industrial and construction supplies. The Company distributes these supplies through a network of approximately 2,600 Company-owned stores. The Company sells industrial and construction supplies to end users (business-to-business), and also has a walk-in retail business.
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