Community Trust & Investment Co. Boosts Position in Fastenal (NASDAQ:FAST)

Community Trust & Investment Co. lifted its position in Fastenal (NASDAQ:FAST) by 5.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,630 shares of the company’s stock after purchasing an additional 420 shares during the quarter. Community Trust & Investment Co.’s holdings in Fastenal were worth $549,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. King Luther Capital Management Corp lifted its position in shares of Fastenal by 1.6% during the 3rd quarter. King Luther Capital Management Corp now owns 8,664 shares of the company’s stock worth $619,000 after buying an additional 136 shares during the last quarter. Verdence Capital Advisors LLC raised its stake in Fastenal by 1.9% during the 3rd quarter. Verdence Capital Advisors LLC now owns 7,628 shares of the company’s stock worth $545,000 after acquiring an additional 142 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. lifted its position in Fastenal by 5.8% in the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,607 shares of the company’s stock valued at $186,000 after acquiring an additional 143 shares during the last quarter. Compass Ion Advisors LLC increased its position in shares of Fastenal by 1.5% during the third quarter. Compass Ion Advisors LLC now owns 9,927 shares of the company’s stock worth $709,000 after purchasing an additional 146 shares in the last quarter. Finally, Catalina Capital Group LLC lifted its holdings in shares of Fastenal by 4.5% in the 3rd quarter. Catalina Capital Group LLC now owns 3,359 shares of the company’s stock valued at $240,000 after purchasing an additional 146 shares during the last quarter. 81.38% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO Daniel L. Florness sold 31,818 shares of Fastenal stock in a transaction that occurred on Monday, November 11th. The shares were 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 directly owns 286,018 shares in the company, valued at approximately $24,168,521. This trade represents a 10.01 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Rita J. Heise sold 10,888 shares of the company’s stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $77.67, for a total value of $845,670.96. Following the completion of the sale, the director now owns 20,000 shares in the company, valued at approximately $1,553,400. This represents a 35.25 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 74,660 shares of company stock worth $6,211,126. Corporate insiders own 0.41% of the company’s stock.

Fastenal Stock Up 1.2 %

Fastenal stock opened at $73.74 on Wednesday. The stock’s 50 day moving average price is $78.41 and its 200 day moving average price is $72.81. The company has a market cap 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 company has a debt-to-equity ratio of 0.03, a current ratio of 4.40 and a quick ratio of 2.29. Fastenal has a 1-year low of $61.36 and a 1-year high of $84.88.

Analyst Ratings Changes

Several research firms have commented on FAST. Stifel Nicolaus lowered Fastenal from a “buy” rating to a “hold” rating and set a $86.00 price target on the stock. in a research report on Wednesday, December 11th. Stephens lifted their price objective on shares of Fastenal from $56.00 to $75.00 and gave the company an “equal weight” rating in a research note on Monday, October 14th. Morgan Stanley increased their target price on shares of Fastenal from $72.00 to $76.00 and gave the stock an “equal weight” rating in a research note on Monday, October 14th. JPMorgan Chase & Co. boosted their price target on Fastenal from $57.00 to $63.00 and gave the company a “neutral” rating in a research report on Thursday, October 10th. Finally, UBS Group began coverage on Fastenal in a research report on Wednesday, November 13th. They set a “neutral” rating and a $88.00 price objective for the company. One analyst has rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $77.40.

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.