Fastenal (NASDAQ:FAST) Shares Acquired by Oak Thistle LLC

Oak Thistle LLC lifted its stake in shares of Fastenal (NASDAQ:FAST) by 331.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 33,935 shares of the company’s stock after purchasing an additional 26,077 shares during the period. Fastenal comprises 0.7% of Oak Thistle LLC’s investment portfolio, making the stock its 13th biggest position. Oak Thistle LLC’s holdings in Fastenal were worth $2,440,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the stock. Aaron Wealth Advisors LLC acquired a new position in shares of Fastenal during the third quarter valued at approximately $310,000. Comgest Global Investors S.A.S. raised its stake in Fastenal by 73.0% in the 3rd 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. lifted its holdings in Fastenal by 1.8% in the 3rd 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 in the last quarter. Franklin Resources Inc. boosted its stake in Fastenal by 3.8% during the 3rd quarter. Franklin Resources Inc. now owns 4,572,999 shares of the company’s stock worth $350,703,000 after purchasing an additional 165,423 shares during the last quarter. Finally, Matrix Trust Co purchased a new stake in shares of Fastenal during the fourth quarter worth $1,756,000. Institutional investors and hedge funds own 81.38% of the company’s stock.

Fastenal Stock Performance

NASDAQ FAST opened at $73.74 on Wednesday. The stock has a fifty day simple moving average of $78.41 and a 200-day simple moving average of $72.81. 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 market cap of $42.24 billion, a PE ratio of 36.69, a P/E/G ratio of 4.64 and a beta of 1.02. Fastenal has a twelve month low of $61.36 and a twelve month high of $84.88.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Stifel Nicolaus downgraded shares of Fastenal from a “buy” rating to a “hold” rating and set a $86.00 price target on the stock. in a research note on Wednesday, December 11th. Stephens boosted their target price on Fastenal from $56.00 to $75.00 and gave the stock an “equal weight” rating in a report on Monday, October 14th. Hsbc Global Res cut Fastenal from a “hold” rating to a “moderate sell” rating in a report on Wednesday, December 11th. Jefferies Financial Group boosted their price objective on Fastenal from $74.00 to $85.00 and gave the stock a “hold” rating in a research note on Friday, December 6th. Finally, Robert W. Baird raised their target price on Fastenal from $67.00 to $80.00 and gave the stock a “neutral” rating in a research note on Monday, October 14th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $77.40.

Insider Buying and Selling at Fastenal

In other news, CEO Daniel L. Florness sold 31,818 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $84.50, for a total value of $2,688,621.00. Following the sale, the chief executive officer now directly owns 286,018 shares of the company’s stock, valued at approximately $24,168,521. The trade was a 10.01 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Charles S. Miller sold 23,480 shares of the stock in a transaction that occurred on Wednesday, November 13th. The stock was 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 have sold 74,660 shares of company stock valued at $6,211,126 over the last 90 days. 0.41% of the stock is owned by insiders.

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.