Fastenal Co (FAST) is a company with a large backing of
institutional shareholders who own around 83% to 84% of its stake. Several investors have recently modified their holdings in the stock:
QRG Capital Management,
Proficio Capital Partners, and
Fortress Financial Group notably increased their position, while others like the
Bank of New York Mellon Corp and
New York State Common Retirement Fund reduced theirs. Also, the company has been affected by
Q4 earnings and sales that did not meet expectations, resulting in a dip in its stock price. Despite slowed growth due to an unfavorable manufacturing environment, Fastenal still managed a resilient performance. In addition to this,
shareholder dividends continue and these are higher than the previous year's. Amid the financials, some excitement has been generated with the appointment of a new
Executive Vice President of Strategy and Communications and the announcement of the
CFO's resignation. Despite these developments, critics argue that the market may be too optimistic about the company's business outlook.
Fastenal Co FAST News Analytics from Thu, 18 Apr 2024 07:00:00 GMT to Sat, 01 Mar 2025 12:24:21 GMT -
Rating 2
- Innovation 1
- Information 6
- Rumor -5
