Compass Capital Management Inc. Purchases 18,880 Shares of Fastenal Company (FAST)
Compass Capital Management Inc. boosted its stake in shares of Fastenal Company (NASDAQ:FAST) by 4.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 446,778 shares of the company’s stock after buying an additional 18,880 shares during the period. Fastenal Company makes up approximately 3.8% of Compass Capital Management Inc.’s portfolio, making the stock its 16th largest position. Compass Capital Management Inc. owned approximately 0.15% of Fastenal Company worth $19,832,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Washington Trust Bank increased its position in Fastenal Company by 2.3% in the second quarter. Washington Trust Bank now owns 2,762 shares of the company’s stock valued at $123,000 after buying an additional 62 shares in the last quarter. Brookstone Capital Management purchased a new position in Fastenal Company during the second quarter valued at about $204,000. Silvercrest Asset Management Group LLC purchased a new position in Fastenal Company during the first quarter valued at about $249,000. TNB Financial purchased a new position in Fastenal Company during the second quarter valued at about $233,000. Finally, Conning Inc. increased its position in Fastenal Company by 5.1% in the second quarter. Conning Inc. now owns 6,972 shares of the company’s stock valued at $309,000 after buying an additional 340 shares in the last quarter. 82.12% of the stock is owned by institutional investors.
Shares of Fastenal Company (NASDAQ:FAST) traded up 0.93% during trading on Monday, hitting $42.17. The company had a trading volume of 2,547,425 shares. The company’s 50 day moving average is $42.13 and its 200 day moving average is $44.51. The firm has a market capitalization of $12.19 billion, a P/E ratio of 24.10 and a beta of 0.99. Fastenal Company has a 1-year low of $35.10 and a 1-year high of $49.99.
Fastenal Company (NASDAQ:FAST) last announced its quarterly earnings data on Tuesday, July 12th. The company reported $0.45 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.48 by $0.03. Fastenal Company 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 period in the prior year, the firm earned $0.48 EPS. The business’s revenue was up 1.7% on a year-over-year basis. Analysts anticipate that Fastenal Company will post $1.74 earnings per share for the current fiscal year.
Several research firms have recently issued reports on FAST. Wells Fargo & Co. reaffirmed a “hold” rating on shares of Fastenal Company in a research note on Sunday, September 4th. Zacks Investment Research downgraded shares of Fastenal Company from a “hold” rating to a “strong sell” rating in a research report on Thursday, July 14th. Macquarie started coverage on shares of Fastenal Company in a research report on Thursday, August 25th. They set a “neutral” rating and a $50.00 target price for the company. Credit Suisse Group AG reissued a “neutral” rating and set a $43.00 target price on shares of Fastenal Company in a research report on Friday, June 17th. Finally, BMO Capital Markets reissued a “market perform” rating and set a $47.00 target price on shares of Fastenal Company in a research report on Wednesday, July 13th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating and two have given a buy rating to the company. Fastenal Company presently has a consensus rating of “Hold” and a consensus target price of $47.44.
About Fastenal Company
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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