Fastenal (NASDAQ:FAST) Shares Purchased by Fulton Bank N.A.

Fulton Bank N.A. raised its position in Fastenal (NASDAQ:FAST) by 1.0% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 30,587 shares of the company’s stock after buying an additional 314 shares during the quarter. Fulton Bank N.A.’s holdings in Fastenal were worth $2,200,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. Aaron Wealth Advisors LLC purchased a new stake in shares of Fastenal in the third quarter valued at approximately $310,000. Comgest Global Investors S.A.S. lifted its holdings in Fastenal by 73.0% in 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 acquiring an additional 36,742 shares during the period. PNC Financial Services Group Inc. grew its stake in shares of Fastenal by 1.8% during the 3rd quarter. PNC Financial Services Group Inc. now owns 369,267 shares of the company’s stock worth $26,373,000 after purchasing an additional 6,488 shares during the period. Franklin Resources Inc. increased its holdings in shares of Fastenal by 3.8% in the 3rd quarter. Franklin Resources Inc. now owns 4,572,999 shares of the company’s stock valued at $350,703,000 after purchasing an additional 165,423 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Fastenal by 5.0% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,718,200 shares of the company’s stock valued at $336,974,000 after purchasing an additional 226,126 shares during the period. Hedge funds and other institutional investors own 81.38% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Holden Lewis sold 30,000 shares of the firm’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $76.52, for a total value of $2,295,600.00. Following the sale, the chief financial officer now directly owns 9,881 shares of the company’s stock, valued at approximately $756,094.12. This trade represents a 75.22 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Daniel L. Florness sold 31,818 shares of the company’s stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 286,018 shares of the company’s stock, valued at $24,168,521. This trade represents a 10.01 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 158,289 shares of company stock valued at $12,639,438 in the last quarter. 0.41% of the stock is currently owned by company insiders.

Fastenal Price Performance

NASDAQ:FAST opened at $72.94 on Thursday. The firm has a market cap of $41.79 billion, a price-to-earnings ratio of 36.29, a price-to-earnings-growth ratio of 4.64 and a beta of 1.02. Fastenal has a 12-month low of $61.33 and a 12-month 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 company’s 50-day moving average is $78.84 and its two-hundred day moving average is $72.49.

Fastenal (NASDAQ:FAST) last announced its quarterly earnings data on Friday, October 11th. The company reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.01. The business had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.90 billion. Fastenal had a net margin of 15.44% and a return on equity of 33.30%. The company’s quarterly revenue was up 3.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.52 earnings per share. Research analysts expect that Fastenal will post 2.03 EPS for the current year.

Analyst Upgrades and Downgrades

FAST has been the subject of a number of research analyst reports. Bank of America assumed coverage on shares of Fastenal in a report on Monday, October 7th. They issued a “buy” rating and a $85.00 target price for the company. Stephens raised their price objective on Fastenal from $56.00 to $75.00 and gave the company an “equal weight” rating in a research note on Monday, October 14th. Hsbc Global Res lowered Fastenal from a “hold” rating to a “moderate sell” rating in a report on Wednesday, December 11th. Stifel Nicolaus cut Fastenal from a “buy” rating to a “hold” rating and set a $86.00 price target for the company. in a research report on Wednesday, December 11th. Finally, Morgan Stanley increased their price objective on shares of Fastenal from $72.00 to $76.00 and gave the company an “equal weight” rating in a research note on Monday, October 14th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, Fastenal currently has an average rating of “Hold” and a consensus 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.