New York State Teachers Retirement System Sells 28,342 Shares of Fastenal Company $FAST

New York State Teachers Retirement System reduced its stake in Fastenal Company (NASDAQ:FAST) by 2.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 940,090 shares of the company’s stock after selling 28,342 shares during the quarter. New York State Teachers Retirement System owned approximately 0.08% of Fastenal worth $46,102,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Riverview Trust Co raised its holdings in shares of Fastenal by 100.0% in the second quarter. Riverview Trust Co now owns 584 shares of the company’s stock valued at $25,000 after purchasing an additional 292 shares during the last quarter. SOA Wealth Advisors LLC. boosted its holdings in Fastenal by 71.6% during the third quarter. SOA Wealth Advisors LLC. now owns 611 shares of the company’s stock worth $30,000 after purchasing an additional 255 shares during the last quarter. Private Wealth Management Group LLC grew its position in Fastenal by 111.9% in the 2nd quarter. Private Wealth Management Group LLC now owns 642 shares of the company’s stock worth $27,000 after purchasing an additional 339 shares in the last quarter. Twin Peaks Wealth Advisors LLC purchased a new stake in Fastenal in the 2nd quarter valued at about $27,000. Finally, Hilltop National Bank purchased a new stake in Fastenal in the 2nd quarter valued at about $27,000. 81.38% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Fastenal

In other Fastenal news, Director Hsenghung Sam Hsu bought 1,000 shares of Fastenal stock in a transaction dated Thursday, November 13th. The stock was purchased at an average price of $49.58 per share, for a total transaction of $49,580.00. Following the completion of the purchase, the director directly owned 10,000 shares of the company’s stock, valued at approximately $495,800. This trade represents a 11.11% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Sarah N. Nielsen purchased 1,000 shares of the stock in a transaction dated Wednesday, November 19th. The stock was acquired at an average cost of $39.60 per share, for a total transaction of $39,600.00. Following the transaction, the director owned 5,000 shares of the company’s stock, valued at approximately $198,000. This trade represents a 25.00% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders purchased a total of 3,000 shares of company stock worth $131,630 over the last 90 days. 0.37% of the stock is currently owned by company insiders.

Analyst Ratings Changes

FAST has been the topic of a number of research analyst reports. Sanford C. Bernstein restated an “underperform” rating on shares of Fastenal in a research note on Monday, December 29th. Jefferies Financial Group set a $52.00 price target on Fastenal and gave the stock a “buy” rating in a report on Monday, December 15th. Wolfe Research upgraded Fastenal from an “underperform” rating to a “peer perform” rating and set a $43.00 price objective for the company in a research note on Thursday, November 13th. UBS Group raised Fastenal from a “hold” rating to a “buy” rating and raised their target price for the company from $45.00 to $52.00 in a research report on Monday, December 15th. Finally, Robert W. Baird lowered their target price on Fastenal from $53.00 to $49.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 14th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $48.73.

Fastenal Price Performance

Shares of NASDAQ FAST opened at $41.98 on Monday. 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 has a fifty day simple moving average of $41.01 and a two-hundred day simple moving average of $44.40. Fastenal Company has a 1-year low of $35.31 and a 1-year high of $50.63. The firm has a market cap of $48.19 billion, a price-to-earnings ratio of 39.23, a price-to-earnings-growth ratio of 3.01 and a beta of 0.90.

Fastenal (NASDAQ:FAST) last issued its earnings results on Tuesday, October 14th. The company reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.01). The firm had revenue of $2.13 billion during the quarter, compared to the consensus estimate of $2.13 billion. Fastenal had a net margin of 15.34% and a return on equity of 32.69%. The business’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.26 earnings per share. Analysts anticipate that Fastenal Company will post 2.15 earnings per share for the current year.

Fastenal Company Profile

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.