Wendell David Associates Inc. reduced its position in shares of Fastenal (NASDAQ:FAST) by 2.9% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 26,750 shares of the company’s stock after selling 800 shares during the period. Wendell David Associates Inc.’s holdings in Fastenal were worth $1,720,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in FAST. Berman Capital Advisors LLC acquired a new stake in Fastenal in the 4th quarter valued at about $26,000. AdvisorNet Financial Inc grew its position in shares of Fastenal by 46.9% during the 4th quarter. AdvisorNet Financial Inc now owns 564 shares of the company’s stock worth $29,000 after buying an additional 180 shares during the period. Avestar Capital LLC grew its position in shares of Fastenal by 3,163.2% during the 4th quarter. Avestar Capital LLC now owns 620 shares of the company’s stock worth $30,000 after buying an additional 601 shares during the period. Patriot Financial Group Insurance Agency LLC acquired a new stake in shares of Fastenal during the 4th quarter worth approximately $39,000. Finally, Bremer Trust National Association acquired a new stake in shares of Fastenal during the 4th quarter worth approximately $39,000. 86.58% of the stock is owned by hedge funds and other institutional investors.

In related news, insider Nicholas J. Lundquist sold 5,000 shares of Fastenal stock in a transaction that occurred on Thursday, January 31st. The shares were sold at an average price of $60.51, for a total transaction of $302,550.00. Following the transaction, the insider now owns 216,000 shares of the company’s stock, valued at approximately $13,070,160. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Sheryl Ann Lisowski sold 10,000 shares of Fastenal stock in a transaction that occurred on Thursday, February 14th. The stock was sold at an average price of $62.50, for a total transaction of $625,000.00. Following the transaction, the chief accounting officer now directly owns 10,300 shares in the company, valued at approximately $643,750. The disclosure for this sale can be found here. Insiders have sold a total of 87,083 shares of company stock worth $5,458,662 in the last three months. 0.56% of the stock is owned by insiders.

Several equities research analysts have recently commented on FAST shares. BidaskClub cut shares of Fastenal from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, February 20th. Zacks Investment Research upgraded shares of Fastenal from a “hold” rating to a “buy” rating and set a $66.00 price target for the company in a research report on Wednesday, January 23rd. ValuEngine upgraded shares of Fastenal from a “hold” rating to a “buy” rating in a research report on Thursday, January 17th. Morgan Stanley started coverage on shares of Fastenal in a research report on Tuesday, December 18th. They set an “equal weight” rating and a $55.00 price target for the company. Finally, Jefferies Financial Group started coverage on shares of Fastenal in a research report on Monday, January 7th. They set a “hold” rating and a $60.00 price target for the company. Nine research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $58.60.

Shares of NASDAQ:FAST traded up $3.20 during trading on Thursday, hitting $68.40. 4,847,291 shares of the company’s stock were exchanged, compared to its average volume of 1,591,232. Fastenal has a 1-year low of $47.37 and a 1-year high of $67.09. The company has a debt-to-equity ratio of 0.22, a current ratio of 5.30 and a quick ratio of 2.37. The stock has a market cap of $18.59 billion, a price-to-earnings ratio of 26.01, a P/E/G ratio of 1.43 and a beta of 1.17.

Fastenal (NASDAQ:FAST) last released its quarterly earnings data on Thursday, January 17th. The company reported $0.60 earnings per share for the quarter, hitting the consensus estimate of $0.60. Fastenal had a net margin of 15.14% and a return on equity of 33.48%. The business had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.22 billion. During the same quarter last year, the firm earned $0.45 EPS. Fastenal’s quarterly revenue was up 13.1% compared to the same quarter last year. Equities research analysts anticipate that Fastenal will post 2.84 earnings per share for the current year.

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About Fastenal

Fastenal Company, together with its subsidiaries, engages in the wholesale distribution of industrial and construction supplies in the United States, Canada, and internationally. It offers fasteners, and other industrial and construction supplies under the Fastenal name. The company's fastener products include threaded fasteners, such as bolts, nuts, screws, studs, and related washers, which are used in manufactured products and construction projects, as well as in the maintenance and repair of machines.

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Institutional Ownership by Quarter for Fastenal (NASDAQ:FAST)

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