River & Mercantile Asset Management LLP acquired a new position in Fastenal (NASDAQ:FAST) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 15,000 shares of the company’s stock, valued at approximately $489,000.
Other hedge funds also recently bought and sold shares of the company. Farmers & Merchants Investments Inc. raised its position in Fastenal by 94.0% in the 2nd quarter. Farmers & Merchants Investments Inc. now owns 774 shares of the company’s stock worth $25,000 after purchasing an additional 375 shares during the last quarter. Advisors Preferred LLC bought a new position in Fastenal in the 2nd quarter valued at about $26,000. Wealthcare Advisory Partners LLC raised its holdings in Fastenal by 101.2% in the 2nd quarter. Wealthcare Advisory Partners LLC now owns 843 shares of the company’s stock valued at $27,000 after acquiring an additional 424 shares during the period. Clarus Wealth Advisors raised its holdings in Fastenal by 101.2% in the 2nd quarter. Clarus Wealth Advisors now owns 845 shares of the company’s stock valued at $28,000 after acquiring an additional 425 shares during the period. Finally, FTB Advisors Inc. bought a new position in Fastenal in the 2nd quarter valued at about $29,000. Hedge funds and other institutional investors own 83.85% of the company’s stock.
Shares of NASDAQ:FAST traded up $0.20 on Friday, reaching $31.21. 272,192 shares of the company’s stock were exchanged, compared to its average volume of 4,109,413. The company has a fifty day moving average of $31.29 and a 200-day moving average of $43.12. Fastenal has a twelve month low of $24.00 and a twelve month high of $35.94. The company has a market capitalization of $17.87 billion, a price-to-earnings ratio of 23.64, a PEG ratio of 1.45 and a beta of 1.24. The company has a current ratio of 4.68, a quick ratio of 2.13 and a debt-to-equity ratio of 0.25.
Several research analysts have weighed in on the stock. Cleveland Research reissued a “hold” rating on shares of Fastenal in a report on Tuesday, September 24th. Wells Fargo & Co decreased their target price on shares of Fastenal from $35.00 to $30.00 and set a “market perform” rating on the stock in a research report on Friday, July 12th. Morgan Stanley decreased their target price on shares of Fastenal from $31.50 to $29.00 and set an “equal weight” rating on the stock in a research report on Friday, July 12th. ValuEngine lowered shares of Fastenal from a “sell” rating to a “strong sell” rating in a research report on Wednesday. Finally, Zacks Investment Research upgraded shares of Fastenal from a “sell” rating to a “hold” rating and set a $34.00 target price on the stock in a research report on Tuesday, September 10th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $31.64.
In related news, CAO Sheryl Ann Lisowski sold 5,615 shares of the stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $33.50, for a total transaction of $188,102.50. Following the sale, the chief accounting officer now owns 10,382 shares in the company, valued at approximately $347,797. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Daniel L. Johnson purchased 2,500 shares of Fastenal stock in a transaction that occurred on Thursday, August 1st. The shares were purchased at an average price of $30.49 per share, for a total transaction of $76,225.00. The disclosure for this purchase can be found here. Insiders have purchased a total of 4,604 shares of company stock worth $138,479 in the last quarter. 0.56% of the stock is currently owned by company insiders.
Fastenal Company 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.
Further Reading: Buyback
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