Fastenal Company $FAST Position Lowered by Hennion & Walsh Asset Management Inc.

Hennion & Walsh Asset Management Inc. decreased its position in Fastenal Company (NASDAQ:FAST) by 52.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,315 shares of the company’s stock after selling 15,926 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in Fastenal were worth $702,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in FAST. Vanguard Group Inc. raised its holdings in shares of Fastenal by 103.5% during the second quarter. Vanguard Group Inc. now owns 149,169,494 shares of the company’s stock worth $6,265,119,000 after purchasing an additional 75,852,223 shares during the period. State Street Corp lifted its holdings in shares of Fastenal by 99.6% in the 2nd quarter. State Street Corp now owns 54,317,385 shares of the company’s stock worth $2,281,330,000 after purchasing an additional 27,107,520 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in Fastenal by 103.4% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 45,995,937 shares of the company’s stock worth $1,931,830,000 after buying an additional 23,380,022 shares during the last quarter. Geode Capital Management LLC increased its position in Fastenal by 103.8% in the second quarter. Geode Capital Management LLC now owns 35,984,281 shares of the company’s stock worth $1,506,141,000 after buying an additional 18,329,847 shares during the period. Finally, Bank of New York Mellon Corp lifted its stake in Fastenal by 87.9% in the second quarter. Bank of New York Mellon Corp now owns 34,851,036 shares of the company’s stock valued at $1,463,743,000 after buying an additional 16,308,254 shares during the last quarter. 81.38% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on FAST shares. Jefferies Financial Group set a $52.00 price objective on shares of Fastenal and gave the stock a “buy” rating in a report on Monday, December 15th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Fastenal in a research note on Monday, December 29th. UBS Group raised shares of Fastenal from a “hold” rating to a “buy” rating and upped their price objective for the stock from $45.00 to $52.00 in a report on Monday, December 15th. Wolfe Research upgraded shares of Fastenal from an “underperform” rating to a “peer perform” rating and set a $43.00 price target on the stock in a research report on Thursday, November 13th. Finally, Robert W. Baird dropped their target price on Fastenal from $53.00 to $49.00 and set an “outperform” rating on the stock in a report on Tuesday, October 14th. 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 stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $48.73.

Insider Buying and Selling at Fastenal

In related news, Director Hsenghung Sam Hsu purchased 1,000 shares of the company’s stock in a transaction dated Thursday, November 13th. The shares were acquired at an average cost of $49.58 per share, with a total value of $49,580.00. Following the completion of the purchase, the director owned 10,000 shares of the company’s stock, valued at $495,800. The trade was a 11.11% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Sarah N. Nielsen purchased 1,000 shares of the stock in a transaction that occurred on Wednesday, November 19th. The stock was purchased at an average cost of $39.60 per share, with a total value of $39,600.00. Following the purchase, the director owned 5,000 shares in the company, valued at $198,000. This represents a 25.00% increase in their position. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders have bought 3,000 shares of company stock worth $131,630. 0.37% of the stock is currently owned by corporate insiders.

Fastenal Stock Performance

Shares of FAST stock opened at $41.98 on Friday. The company has a market capitalization of $48.19 billion, a price-to-earnings ratio of 39.23, a P/E/G ratio of 3.01 and a beta of 0.90. Fastenal Company has a 1-year low of $35.31 and a 1-year high of $50.63. The company has a current ratio of 4.26, a quick ratio of 2.19 and a debt-to-equity ratio of 0.03. The stock’s fifty day simple moving average is $41.01 and its 200-day simple moving average is $44.38.

Fastenal (NASDAQ:FAST) last announced its quarterly earnings data on Tuesday, October 14th. The company reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.01). The business had revenue of $2.13 billion for the quarter, compared to analyst estimates of $2.13 billion. Fastenal had a return on equity of 32.69% and a net margin of 15.34%.The company’s revenue was up 11.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.26 earnings per share. On average, sell-side analysts predict that Fastenal Company will post 2.15 earnings per share for the current fiscal year.

About Fastenal

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.