Fastenal (NASDAQ:FAST) Shares Acquired by Wedmont Private Capital

Wedmont Private Capital increased its holdings in Fastenal (NASDAQ:FAST) by 57.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 7,281 shares of the company’s stock after acquiring an additional 2,667 shares during the quarter. Wedmont Private Capital’s holdings in Fastenal were worth $522,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Aaron Wealth Advisors LLC bought a new position in shares of Fastenal during the third quarter valued at approximately $310,000. Comgest Global Investors S.A.S. grew its holdings in shares of Fastenal by 73.0% during the third quarter. Comgest Global Investors S.A.S. now owns 87,081 shares of the company’s stock valued at $6,219,000 after purchasing an additional 36,742 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of Fastenal by 1.8% during the third quarter. PNC Financial Services Group Inc. now owns 369,267 shares of the company’s stock valued at $26,373,000 after purchasing an additional 6,488 shares during the last quarter. Franklin Resources Inc. grew its holdings in Fastenal by 3.8% in the 3rd quarter. Franklin Resources Inc. now owns 4,572,999 shares of the company’s stock worth $350,703,000 after buying an additional 165,423 shares in the last quarter. Finally, Matrix Trust Co acquired a new stake in Fastenal in the 4th quarter valued at approximately $1,756,000. Institutional investors and hedge funds own 81.38% of the company’s stock.

Wall Street Analysts Forecast Growth

FAST has been the topic of several analyst reports. UBS Group started coverage on Fastenal in a research report on Wednesday, November 13th. They issued a “neutral” rating and a $88.00 target price on the stock. Morgan Stanley lifted their price target on Fastenal from $72.00 to $76.00 and gave the company an “equal weight” rating in a research report on Monday, October 14th. JPMorgan Chase & Co. lifted their target price on Fastenal from $57.00 to $63.00 and gave the stock a “neutral” rating in a report on Thursday, October 10th. Bank of America initiated coverage on Fastenal in a report on Monday, October 7th. They issued a “buy” rating and a $85.00 target price on the stock. Finally, HSBC cut Fastenal from a “hold” rating to a “reduce” rating and set a $70.00 target price on the stock. in a report on Wednesday, December 11th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $77.40.

Insider Activity at Fastenal

In related news, CEO Daniel L. Florness sold 31,818 shares of Fastenal stock in a transaction on Monday, November 11th. The stock was sold at an average price of $84.50, for a total transaction of $2,688,621.00. Following the completion of the sale, the chief executive officer now owns 286,018 shares of the company’s stock, valued at approximately $24,168,521. This trade represents a 10.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Daniel L. Johnson sold 8,474 shares of Fastenal stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $83.36, for a total value of $706,392.64. Following the sale, the director now directly owns 10,595 shares of the company’s stock, valued at approximately $883,199.20. The trade was a 44.44 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 74,660 shares of company stock valued at $6,211,126. Insiders own 0.41% of the company’s stock.

Fastenal Price Performance

FAST opened at $74.27 on Thursday. The stock has a market cap of $42.55 billion, a price-to-earnings ratio of 36.95, a PEG ratio of 4.64 and a beta of 1.02. Fastenal has a 1 year low of $61.36 and a 1 year high of $84.88. The company has a current ratio of 4.40, a quick ratio of 2.29 and a debt-to-equity ratio of 0.03. The stock has a fifty day moving average price of $78.41 and a 200 day moving average price of $72.81.

Fastenal Profile

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.