Fastenal Co. (FAST) Holder Confluence Investment Management LLC Has Decreased Stake as Valuation Declined

August 10, 2018 - By Harriett Tippett

Fastenal Company (NASDAQ:FAST) LogoInvestors sentiment decreased to 0.83 in 2018 Q1. Its down 0.22, from 1.05 in 2017Q4. It worsened, as 45 investors sold FAST shares while 231 reduced holdings. 56 funds opened positions while 174 raised stakes. 236.95 million shares or 2.01% more from 232.28 million shares in 2017Q4 were reported. Archford Cap Strategies Limited Liability Corporation owns 25,578 shares. Btc Incorporated accumulated 7,390 shares. Bessemer Grp Inc owns 33,120 shares or 0.01% of their US portfolio. Balyasny Asset Mngmt Ltd Liability Com owns 0% invested in Fastenal Company (NASDAQ:FAST) for 13,133 shares. 5,480 are owned by Research And Management. Cibc Markets accumulated 0% or 16,992 shares. Retirement Of Alabama accumulated 137,415 shares. New York-based Silvercrest Asset Mngmt Ltd Company has invested 0% in Fastenal Company (NASDAQ:FAST). Exxonmobil Mngmt Tx owns 44,036 shares or 0.07% of their US portfolio. Ftb Advsr holds 0% or 277 shares in its portfolio. Liberty Mutual Gru Asset Management invested in 0.02% or 11,478 shares. Keybank Association Oh has invested 0% in Fastenal Company (NASDAQ:FAST). Mackay Shields Lc accumulated 0.02% or 48,374 shares. Point72 Asset Management LP invested in 0% or 13,800 shares. International Group Incorporated holds 0.07% of its portfolio in Fastenal Company (NASDAQ:FAST) for 354,734 shares.

Since March 6, 2018, it had 4 insider buys, and 3 insider sales for $1.79 million activity. Eastman Stephen L. also bought $35,219 worth of Fastenal Company (NASDAQ:FAST) shares. Jansen James C sold $14,036 worth of stock or 242 shares. Ancius Michael J had bought 455 shares worth $22,181 on Wednesday, April 25. Drazkowski William Joseph had sold 7,500 shares worth $424,808 on Tuesday, March 6. Another trade for 2,000 shares valued at $103,700 was bought by Owen Terry Modock.

Confluence Investment Management Llc decreased its stake in Fastenal Co. (FAST) by 3.54% based on its latest 2018Q1 regulatory filing with the SEC. Confluence Investment Management Llc sold 85,323 shares as the company’s stock declined 6.35% with the market. The institutional investor held 2.33 million shares of the building materials company at the end of 2018Q1, valued at $127.05M, down from 2.41M at the end of the previous reported quarter. Confluence Investment Management Llc who had been investing in Fastenal Co. for a number of months, seems to be less bullish one the $16.50 billion market cap company. The stock decreased 0.48% or $0.28 during the last trading session, reaching $57.51. About 1.22 million shares traded. Fastenal Company (NASDAQ:FAST) has risen 21.28% since August 10, 2017 and is uptrending. It has outperformed by 8.71% the S&P500.

Confluence Investment Management Llc, which manages about $2.30 billion and $5.41B US Long portfolio, upped its stake in Iron Mountain (NYSE:IRM) by 225,000 shares to 2.66 million shares, valued at $87.29M in 2018Q1, according to the filing. It also increased its holding in Kinder Morgan Inc. (NYSE:KMI) by 373,990 shares in the quarter, for a total of 4.74 million shares, and has risen its stake in Northern Trust Corporation (NASDAQ:NTRS).

Analysts await Fastenal Company (NASDAQ:FAST) to report earnings on October, 10. They expect $0.67 EPS, up 34.00 % or $0.17 from last year’s $0.5 per share. FAST’s profit will be $192.25M for 21.46 P/E if the $0.67 EPS becomes a reality. After $0.74 actual EPS reported by Fastenal Company for the previous quarter, Wall Street now forecasts -9.46 % negative EPS growth.

More important recent Fastenal Company (NASDAQ:FAST) news were published by: Fool.com which released: “3 Income Stocks That Could Double Their Dividend” on July 24, 2018, also Nasdaq.com published article titled: “Fastenal Named Top Dividend Stock With Insider Buying and 2.88% Yield (FAST)”, Seekingalpha.com published: “Fastenal’s Familiar ‘Strong Growth/High Expectations’ Profile” on July 12, 2018. More interesting news about Fastenal Company (NASDAQ:FAST) was released by: Seekingalpha.com and their article: “Fastenal: Outstanding Quarter, Company Remains A Buy” with publication date: July 19, 2018.

Fastenal Company (NASDAQ:FAST) Ratings Coverage

Among 10 analysts covering Fastenal Company (NASDAQ:FAST), 4 have Buy rating, 1 Sell and 5 Hold. Therefore 40% are positive. Fastenal Company had 17 analyst reports since March 2, 2018 according to SRatingsIntel. The firm earned “Hold” rating on Tuesday, April 3 by Stifel Nicolaus. Susquehanna maintained it with “Hold” rating and $5400 target in Thursday, April 12 report. As per Thursday, April 12, the company rating was maintained by KeyBanc Capital Markets. On Thursday, April 12 the stock rating was maintained by Stifel Nicolaus with “Hold”. The rating was maintained by Northcoast on Friday, March 2 with “Buy”. The company was maintained on Tuesday, March 6 by Robert W. Baird. The firm earned “Neutral” rating on Tuesday, July 3 by Robert W. Baird. The company was maintained on Monday, March 19 by Susquehanna. Wells Fargo maintained Fastenal Company (NASDAQ:FAST) rating on Thursday, April 12. Wells Fargo has “Hold” rating and $4900 target. Stifel Nicolaus maintained the stock with “Hold” rating in Friday, July 13 report.

Fastenal Company (NASDAQ:FAST) Institutional Positions Chart

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