Fastenal (FAST) Shares Sold by Cullinan Associates Inc.

Cullinan Associates Inc. lowered its stake in shares of Fastenal (NASDAQ:FAST) by 3.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 99,300 shares of the company’s stock after selling 4,000 shares during the period. Cullinan Associates Inc.’s holdings in Fastenal were worth $5,192,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. Bank of Montreal Can grew its stake in Fastenal by 23.8% in the 3rd quarter. Bank of Montreal Can now owns 494,532 shares of the company’s stock valued at $28,693,000 after buying an additional 95,225 shares in the last quarter. Global X Management Co LLC boosted its holdings in Fastenal by 16.4% in the 2nd quarter. Global X Management Co LLC now owns 69,024 shares of the company’s stock valued at $3,322,000 after purchasing an additional 9,734 shares during the period. Marshall Wace LLP bought a new position in Fastenal in the 2nd quarter valued at $1,322,000. Verition Fund Management LLC boosted its holdings in Fastenal by 69.9% in the 2nd quarter. Verition Fund Management LLC now owns 14,501 shares of the company’s stock valued at $698,000 after purchasing an additional 5,967 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in Fastenal by 18.5% in the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,049,956 shares of the company’s stock valued at $60,918,000 after purchasing an additional 164,235 shares during the period. Institutional investors own 85.04% of the company’s stock.

In other news, CFO Holden Lewis acquired 500 shares of the firm’s stock in a transaction on Tuesday, October 16th. The shares were purchased at an average price of $52.28 per share, for a total transaction of $26,140.00. Following the completion of the transaction, the chief financial officer now owns 3,500 shares of the company’s stock, valued at $182,980. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider William Joseph Drazkowski acquired 830 shares of the firm’s stock in a transaction on Tuesday, October 23rd. The stock was purchased at an average price of $50.54 per share, for a total transaction of $41,948.20. Following the transaction, the insider now directly owns 2,790 shares of the company’s stock, valued at approximately $141,006.60. The disclosure for this purchase can be found here. Insiders acquired 2,295 shares of company stock valued at $117,844 over the last three months. 0.56% of the stock is currently owned by insiders.



Several research analysts have commented on the stock. Longbow Research raised shares of Fastenal from a “neutral” rating to a “buy” rating and set a $63.00 price target for the company in a report on Tuesday, December 4th. They noted that the move was a valuation call. Zacks Investment Research raised shares of Fastenal from a “hold” rating to a “buy” rating and set a $65.00 price target for the company in a report on Wednesday, October 3rd. BidaskClub raised shares of Fastenal from a “hold” rating to a “buy” rating in a report on Saturday, November 17th. ValuEngine downgraded shares of Fastenal from a “buy” rating to a “hold” rating in a report on Wednesday, December 5th. Finally, Morgan Stanley initiated coverage on shares of Fastenal in a report on Tuesday, December 18th. They issued an “equal weight” rating and a $55.00 price target for the company. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have given a buy rating to the stock. Fastenal has an average rating of “Hold” and a consensus price target of $56.77.

Fastenal stock traded up $0.29 during mid-day trading on Friday, hitting $54.77. The company’s stock had a trading volume of 848,046 shares, compared to its average volume of 2,463,934. The company has a quick ratio of 2.48, a current ratio of 5.35 and a debt-to-equity ratio of 0.17. The company has a market capitalization of $15.47 billion, a PE ratio of 28.38, a P/E/G ratio of 1.21 and a beta of 1.11. Fastenal has a 12 month low of $47.37 and a 12 month high of $61.14.

Fastenal (NASDAQ:FAST) last posted its quarterly earnings results on Wednesday, October 10th. The company reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.02. The business had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.27 billion. Fastenal had a net margin of 15.25% and a return on equity of 32.29%. The firm’s revenue for the quarter was up 13.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.50 earnings per share. As a group, equities analysts expect that Fastenal will post 2.6 earnings per share for the current fiscal year.

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Fastenal Profile

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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