B & T Capital Management DBA Alpha Capital Management Buys 268 Shares of Fastenal (NASDAQ:FAST)

B & T Capital Management DBA Alpha Capital Management lifted its stake in shares of Fastenal (NASDAQ:FASTFree Report) by 0.4% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 68,490 shares of the company’s stock after purchasing an additional 268 shares during the period. B & T Capital Management DBA Alpha Capital Management’s holdings in Fastenal were worth $4,892,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in FAST. Central Valley Advisors LLC bought a new stake in shares of Fastenal during the 2nd quarter worth approximately $28,000. MCF Advisors LLC raised its stake in shares of Fastenal by 2,172.2% during the 1st quarter. MCF Advisors LLC now owns 409 shares of the company’s stock worth $32,000 after purchasing an additional 391 shares in the last quarter. Triad Wealth Partners LLC bought a new stake in shares of Fastenal during the 2nd quarter worth approximately $32,000. Crewe Advisors LLC raised its stake in shares of Fastenal by 528.4% during the 2nd quarter. Crewe Advisors LLC now owns 509 shares of the company’s stock worth $32,000 after purchasing an additional 428 shares in the last quarter. Finally, OFI Invest Asset Management bought a new stake in shares of Fastenal during the 2nd quarter worth approximately $35,000. Institutional investors own 81.38% of the company’s stock.

Insider Transactions at Fastenal

In related news, CEO Daniel L. Florness sold 50,000 shares of the firm’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $69.68, for a total value of $3,484,000.00. Following the sale, the chief executive officer now directly owns 286,018 shares of the company’s stock, valued at $19,929,734.24. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, CEO Daniel L. Florness sold 45,744 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $68.14, for a total value of $3,116,996.16. Following the sale, the chief executive officer now directly owns 286,018 shares of the company’s stock, valued at $19,489,266.52. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Daniel L. Florness sold 50,000 shares of the firm’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $69.68, for a total value of $3,484,000.00. Following the completion of the sale, the chief executive officer now directly owns 286,018 shares in the company, valued at $19,929,734.24. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.41% of the stock is currently owned by insiders.

Analyst Ratings Changes

FAST has been the topic of a number of research analyst reports. Stephens restated an “equal weight” rating and issued a $56.00 price target on shares of Fastenal in a research note on Monday, July 15th. Bank of America initiated coverage on Fastenal in a research note on Monday. They issued a “buy” rating and a $85.00 price target on the stock. Jefferies Financial Group dropped their price target on Fastenal from $74.00 to $65.00 and set a “hold” rating on the stock in a research note on Thursday, July 11th. Morgan Stanley initiated coverage on Fastenal in a research note on Friday, September 6th. They issued an “equal weight” rating and a $72.00 price target on the stock. Finally, Stifel Nicolaus restated a “buy” rating and issued a $80.00 price target (down previously from $85.00) on shares of Fastenal in a research note on Monday, July 15th. Six analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $69.63.

Get Our Latest Analysis on Fastenal

Fastenal Stock Performance

FAST stock traded up $0.10 during trading hours on Thursday, hitting $70.71. 1,318,581 shares of the stock were exchanged, compared to its average volume of 3,326,321. The company has a current ratio of 4.39, a quick ratio of 2.29 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $40.48 billion, a P/E ratio of 35.13, a P/E/G ratio of 3.92 and a beta of 1.01. The company has a 50-day simple moving average of $68.53 and a two-hundred day simple moving average of $68.00. Fastenal has a 12 month low of $55.42 and a 12 month high of $79.04.

Fastenal (NASDAQ:FASTGet Free Report) last released its earnings results on Friday, July 12th. The company reported $0.51 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.51. The company had revenue of $1.92 billion for the quarter, compared to analyst estimates of $1.91 billion. Fastenal had a return on equity of 33.54% and a net margin of 15.54%. Fastenal’s quarterly revenue was up 1.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.52 EPS. On average, analysts forecast that Fastenal will post 2.04 earnings per share for the current fiscal year.

Fastenal Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Fastenal (NASDAQ:FAST)

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