Stephens Investment Management Group LLC Has $22.89 Million Stock Position in Fastenal Company $FAST

Stephens Investment Management Group LLC raised its holdings in shares of Fastenal Company (NASDAQ:FAST) by 3.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 466,719 shares of the company’s stock after buying an additional 14,727 shares during the quarter. Stephens Investment Management Group LLC’s holdings in Fastenal were worth $22,888,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of FAST. Integrated Wealth Concepts LLC grew its position in Fastenal by 2.4% in the 1st quarter. Integrated Wealth Concepts LLC now owns 6,276 shares of the company’s stock worth $487,000 after purchasing an additional 147 shares during the last quarter. Sowell Financial Services LLC grew its position in Fastenal by 4.7% during the third quarter. Sowell Financial Services LLC now owns 5,308 shares of the company’s stock worth $260,000 after buying an additional 238 shares in the last quarter. Rowlandmiller & PARTNERS.ADV raised its holdings in Fastenal by 1.7% in the 3rd quarter. Rowlandmiller & PARTNERS.ADV now owns 14,704 shares of the company’s stock valued at $721,000 after acquiring an additional 250 shares in the last quarter. SOA Wealth Advisors LLC. lifted its position in shares of Fastenal by 71.6% in the 3rd quarter. SOA Wealth Advisors LLC. now owns 611 shares of the company’s stock worth $30,000 after acquiring an additional 255 shares during the period. Finally, Harfst & Associates Inc. grew its holdings in shares of Fastenal by 0.4% during the 3rd quarter. Harfst & Associates Inc. now owns 63,720 shares of the company’s stock worth $3,125,000 after purchasing an additional 256 shares in the last quarter. Institutional investors and hedge funds own 81.38% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Robert W. Baird decreased their price target on shares of Fastenal from $53.00 to $49.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 14th. Jefferies Financial Group set a $52.00 target price on shares of Fastenal and gave the company a “buy” rating in a research report on Monday, December 15th. Barclays dropped their price target on shares of Fastenal from $45.00 to $44.00 and set an “equal weight” rating for the company in a research report on Thursday, November 13th. Sanford C. Bernstein reaffirmed an “underperform” rating on shares of Fastenal in a report on Monday, December 29th. Finally, Wolfe Research raised Fastenal from an “underperform” rating to a “peer perform” rating and set a $43.00 target price for the company in a report on Thursday, November 13th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $48.73.

Fastenal Trading Up 0.5%

FAST stock opened at $43.74 on Friday. The business has a fifty day moving average price of $41.17 and a 200 day moving average price of $44.41. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.26 and a quick ratio of 2.19. Fastenal Company has a fifty-two week low of $35.31 and a fifty-two week high of $50.63. The stock has a market capitalization of $50.22 billion, a price-to-earnings ratio of 40.88, a P/E/G ratio of 3.14 and a beta of 0.90.

Insider Activity

In related news, Director Sarah N. Nielsen acquired 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 19th. The stock was purchased at an average price of $39.60 per share, for a total transaction of $39,600.00. Following the transaction, the director directly owned 5,000 shares of the company’s stock, valued at approximately $198,000. This trade represents a 25.00% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Hsenghung Sam Hsu acquired 1,000 shares of the firm’s stock in a transaction on Thursday, November 13th. The stock was purchased at an average price of $49.58 per share, for a total transaction of $49,580.00. Following the completion of the transaction, the director directly owned 10,000 shares in the company, valued at approximately $495,800. The trade was a 11.11% increase in their position. The disclosure for this purchase is available in the SEC filing. 0.37% of the stock is owned by corporate insiders.

Fastenal Company Profile

Fastenal (NASDAQ: FAST) is a wholesale distributor of industrial and construction supplies, best known for its broad assortment of fasteners such as bolts, nuts, screws and anchors. Founded in Winona, Minnesota, Fastenal has grown from a regional supplier into a national and international distributor serving a wide range of end markets, including manufacturing, construction, maintenance, repair and operations (MRO), and government customers. The company is publicly traded and operates through a network of locally staffed branches combined with national distribution capabilities.

Product offerings extend beyond fasteners to include tools, safety and personal protective equipment, power transmission components, cutting and welding supplies, janitorial and material handling items, and other industrial consumables.