Essex Investment Management Co. LLC held its position in Fastenal Co. (NASDAQ:FAST) during the second quarter, Holdings Channel reports. The firm owned 7,500 shares of the company’s stock at the end of the second quarter. Essex Investment Management Co. LLC’s holdings in Fastenal were worth $333,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Capital Fund Management S.A. purchased a new stake in Fastenal during the second quarter valued at approximately $17,477,000. Bank of Montreal Can purchased a new stake in Fastenal during the second quarter valued at approximately $12,211,000. TIAA CREF Investment Management LLC raised its stake in Fastenal by 21.0% in the first quarter. TIAA CREF Investment Management LLC now owns 1,558,766 shares of the company’s stock valued at $76,380,000 after buying an additional 271,027 shares during the last quarter. BB&T Securities LLC raised its stake in Fastenal by 235.9% in the first quarter. BB&T Securities LLC now owns 309,729 shares of the company’s stock valued at $15,176,000 after buying an additional 217,522 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in Fastenal by 6.4% in the first quarter. Geode Capital Management LLC now owns 2,551,508 shares of the company’s stock valued at $124,792,000 after buying an additional 153,032 shares during the last quarter. 82.12% of the stock is currently owned by institutional investors and hedge funds.
Fastenal Co. (NASDAQ:FAST) traded down 1.01% during mid-day trading on Friday, hitting $42.30. The stock had a trading volume of 2,887,736 shares. The company has a market cap of $12.22 billion, a price-to-earnings ratio of 24.17 and a beta of 0.99. Fastenal Co. has a one year low of $35.10 and a one year high of $49.99. The company has a 50 day moving average price of $41.91 and a 200-day moving average price of $44.29.
Fastenal (NASDAQ:FAST) last announced its earnings results on Tuesday, July 12th. The company reported $0.45 earnings per share (EPS) for the quarter, missing the Zacks’ 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 firm had revenue of $1.01 billion for the quarter. During the same quarter in the prior year, the business posted $0.48 EPS. The business’s revenue was up 1.7% compared to the same quarter last year. Equities analysts expect that Fastenal Co. will post $1.74 earnings per share for the current fiscal year.
Several analysts have recently commented on FAST shares. Vetr lowered shares of Fastenal from a “strong-buy” rating to a “hold” rating and set a $42.46 price target on the stock. in a research report on Tuesday, September 6th. Zacks Investment Research raised shares of Fastenal from a “sell” rating to a “hold” rating in a research report on Tuesday, September 13th. Morgan Stanley initiated coverage on shares of Fastenal in a research report on Thursday, July 7th. They set an “equal weight” rating and a $46.00 price target on the stock. BMO Capital Markets reissued a “market perform” rating and issued a $47.00 target price on shares of Fastenal in a research report on Wednesday, July 13th. Finally, Credit Suisse Group AG reissued a “neutral” rating and issued a $43.00 target price on shares of Fastenal in a research report on Friday, June 17th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and two have issued a buy rating to the stock. The company presently 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.