Livingston Group Asset Management CO operating as Southport Capital Management decreased its stake in Fastenal Co. (NASDAQ:FAST) by 6.4% during the second quarter, Holdings Channel reports. The firm owned 22,002 shares of the company’s stock after selling 1,500 shares during the period. Livingston Group Asset Management CO operating as Southport Capital Management’s holdings in Fastenal were worth $977,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also made changes to their positions in the company. Stearns Financial Services Group raised its position in Fastenal by 1.4% in the first quarter. Stearns Financial Services Group now owns 9,801 shares of the company’s stock worth $480,000 after buying an additional 140 shares during the last quarter. Aston Asset Management LLC raised its position in Fastenal by 4.4% in the first quarter. Aston Asset Management LLC now owns 57,956 shares of the company’s stock worth $2,840,000 after buying an additional 2,466 shares during the last quarter. FDO Partners LLC purchased a new position in Fastenal during the first quarter worth about $377,000. Allegis Investment Advisors LLC raised its position in Fastenal by 14.0% in the first quarter. Allegis Investment Advisors LLC now owns 26,421 shares of the company’s stock worth $1,295,000 after buying an additional 3,252 shares during the last quarter. Finally, Prudential Financial Inc. raised its position in Fastenal by 2.9% in the first quarter. Prudential Financial Inc. now owns 357,903 shares of the company’s stock worth $17,537,000 after buying an additional 10,130 shares during the last quarter. Institutional investors own 82.12% of the company’s stock.
Shares of Fastenal Co. (NASDAQ:FAST) traded down 0.07% during midday trading on Thursday, hitting $40.84. 1,690,322 shares of the company were exchanged. The company has a market capitalization of $11.80 billion, a P/E ratio of 23.34 and a beta of 0.90. The company has a 50-day moving average of $42.23 and a 200 day moving average of $44.58. Fastenal Co. has a one year low of $34.45 and a one year high of $49.99.
Fastenal (NASDAQ:FAST) last released 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 net margin of 12.91% and a return on equity of 27.83%. The company earned $1.01 billion during the quarter. During the same quarter in the prior year, the company posted $0.48 EPS. Fastenal’s revenue was up 1.7% on a year-over-year basis. On average, equities research analysts expect that Fastenal Co. will post $1.74 earnings per share for the current fiscal year.
FAST has been the topic of a number of research analyst reports. Wells Fargo & Co. reiterated a “hold” rating on shares of Fastenal in a research note on Wednesday, June 8th. Credit Suisse Group AG reiterated a “neutral” rating and issued a $43.00 target price on shares of Fastenal in a research note on Friday, June 17th. Morgan Stanley initiated coverage on shares of Fastenal in a research note on Thursday, July 7th. They issued an “equal weight” rating and a $46.00 target price on the stock. BMO Capital Markets reiterated a “market perform” rating and issued a $47.00 target price on shares of Fastenal in a research note on Wednesday, July 13th. Finally, Zacks Investment Research lowered shares of Fastenal from a “hold” rating to a “strong sell” rating in a research note on Thursday, July 14th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating and two have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target 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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