Concurrent Investment Advisors LLC Increases Stock Holdings in Fastenal Company $FAST

Concurrent Investment Advisors LLC grew its stake in Fastenal Company (NASDAQ:FAST) by 41.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 41,008 shares of the company’s stock after purchasing an additional 12,060 shares during the period. Concurrent Investment Advisors LLC’s holdings in Fastenal were worth $2,011,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Riverview Trust Co increased its stake in Fastenal by 100.0% in the 2nd quarter. Riverview Trust Co now owns 584 shares of the company’s stock valued at $25,000 after buying an additional 292 shares during the period. Hilltop National Bank acquired a new stake in shares of Fastenal in the 2nd quarter worth $27,000. Private Wealth Management Group LLC boosted its holdings in shares of Fastenal by 111.9% in the second quarter. Private Wealth Management Group LLC now owns 642 shares of the company’s stock valued at $27,000 after acquiring an additional 339 shares in the last quarter. Twin Peaks Wealth Advisors LLC purchased a new stake in shares of Fastenal in the second quarter valued at about $27,000. Finally, Armstrong Advisory Group Inc. increased its stake in shares of Fastenal by 100.0% during the second quarter. Armstrong Advisory Group Inc. now owns 696 shares of the company’s stock worth $29,000 after acquiring an additional 348 shares during the period. Hedge funds and other institutional investors own 81.38% of the company’s stock.

Insider Buying and Selling at Fastenal

In other Fastenal news, Director Hsenghung Sam Hsu acquired 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 13th. The shares were acquired at an average cost of $49.58 per share, for a total transaction of $49,580.00. Following the transaction, the director directly owned 10,000 shares of the company’s stock, valued at approximately $495,800. This represents a 11.11% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Sarah N. Nielsen bought 1,000 shares of the company’s stock in a transaction on Wednesday, November 19th. The shares were acquired at an average price of $39.60 per share, with a total value of $39,600.00. Following the completion of the acquisition, the director directly owned 5,000 shares in the company, valued at $198,000. This represents a 25.00% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 0.37% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on FAST shares. Wolfe Research upgraded shares of Fastenal from an “underperform” rating to a “peer perform” rating and set a $43.00 price objective for the company in a research report on Thursday, November 13th. Robert W. Baird cut their target price on Fastenal from $53.00 to $49.00 and set an “outperform” rating for the company in a research note on Tuesday, October 14th. Jefferies Financial Group set a $52.00 price target on Fastenal and gave the company a “buy” rating in a report on Monday, December 15th. Weiss Ratings restated a “buy (b-)” rating on shares of Fastenal in a research note on Monday, December 29th. Finally, Barclays cut their price objective on Fastenal from $45.00 to $44.00 and set an “equal weight” rating for the company in a research report on Thursday, November 13th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $48.73.

Fastenal Price Performance

Shares of NASDAQ:FAST opened at $43.53 on Friday. The firm has a market capitalization of $49.97 billion, a price-to-earnings ratio of 40.68, a price-to-earnings-growth ratio of 3.04 and a beta of 0.90. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.26 and a quick ratio of 2.19. The business’s 50 day simple moving average is $41.11 and its 200-day simple moving average is $44.39. Fastenal Company has a 12 month low of $35.31 and a 12 month high of $50.63.

Fastenal (NASDAQ:FAST) last issued its quarterly earnings data 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 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 business’s revenue for the quarter was up 11.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.26 earnings per share. As a group, equities analysts forecast that Fastenal Company will post 2.15 earnings per share for the current fiscal year.

Fastenal 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.