Aprio Wealth Management LLC Takes $217,000 Position in Fastenal (NASDAQ:FAST)

Aprio Wealth Management LLC bought a new position in shares of Fastenal (NASDAQ:FAST) in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor bought 3,023 shares of the company’s stock, valued at approximately $217,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in FAST. Ashton Thomas Securities LLC acquired a new position in Fastenal during the third quarter worth $25,000. Knuff & Co LLC purchased a new stake in shares of Fastenal during the third quarter worth about $27,000. Moisand Fitzgerald Tamayo LLC raised its position in shares of Fastenal by 1,019.0% during the 3rd quarter. Moisand Fitzgerald Tamayo LLC now owns 470 shares of the company’s stock worth $34,000 after purchasing an additional 428 shares during the last quarter. First Personal Financial Services purchased a new position in Fastenal in the 3rd quarter valued at about $36,000. Finally, CVA Family Office LLC boosted its holdings in Fastenal by 51.0% in the 3rd quarter. CVA Family Office LLC now owns 533 shares of the company’s stock worth $38,000 after buying an additional 180 shares during the last quarter. Hedge funds and other institutional investors own 81.38% of the company’s stock.

Insider Transactions at Fastenal

In other Fastenal news, Director Rita J. Heise sold 10,888 shares of the stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $77.67, for a total transaction of $845,670.96. Following the completion of the transaction, the director now owns 20,000 shares of the company’s stock, valued at $1,553,400. This trade represents a 35.25 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Charles S. Miller sold 23,480 shares of the business’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $83.92, for a total transaction of $1,970,441.60. The disclosure for this sale can be found here. Insiders sold 74,660 shares of company stock worth $6,211,126 in the last 90 days. Insiders own 0.41% of the company’s stock.

Fastenal Price Performance

Shares of FAST stock opened at $73.74 on Wednesday. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.40 and a quick ratio of 2.29. The company has a market capitalization of $42.24 billion, a PE ratio of 36.69, a price-to-earnings-growth ratio of 4.64 and a beta of 1.02. The firm’s 50-day moving average is $78.41 and its two-hundred day moving average is $72.81. Fastenal has a 12 month low of $61.36 and a 12 month high of $84.88.

Analyst Upgrades and Downgrades

A number of brokerages have commented on FAST. JPMorgan Chase & Co. increased their target price on Fastenal from $57.00 to $63.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. Bank of America began coverage on Fastenal in a report on Monday, October 7th. They issued a “buy” rating and a $85.00 price objective on the stock. Robert W. Baird upped their target price on shares of Fastenal from $67.00 to $80.00 and gave the stock a “neutral” rating in a report on Monday, October 14th. HSBC downgraded shares of Fastenal from a “hold” rating to a “reduce” rating and set a $70.00 price target on the stock. in a research note on Wednesday, December 11th. Finally, Hsbc Global Res cut shares of Fastenal from a “hold” rating to a “moderate sell” rating in a research note on Wednesday, December 11th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the company. According to MarketBeat.com, Fastenal presently has a consensus rating of “Hold” and an average target price of $77.40.

About Fastenal

Fastenal Company, together with its subsidiaries, engages in the wholesale distribution of industrial and construction supplies in the United States, Canada, Mexico, North America, and internationally. It offers fasteners, and related industrial and construction supplies under the Fastenal name. The company’s fastener products include threaded fasteners, bolts, nuts, screws, studs, and related washers that are used in manufactured products and construction projects, as well as in the maintenance and repair of machines.