45,269 Shares in Fastenal Company $FAST Purchased by Donoghue Forlines LLC

Donoghue Forlines LLC acquired a new stake in shares of Fastenal Company (NASDAQ:FAST) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 45,269 shares of the company’s stock, valued at approximately $2,220,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of FAST. Riverview Trust Co grew its position in shares of Fastenal by 100.0% during the second quarter. Riverview Trust Co now owns 584 shares of the company’s stock worth $25,000 after buying an additional 292 shares in the last quarter. Hilltop National Bank acquired a new position in Fastenal during the 2nd quarter worth $27,000. Private Wealth Management Group LLC increased its position in shares of 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 during the last quarter. Twin Peaks Wealth Advisors LLC acquired a new stake in shares of Fastenal in the 2nd quarter valued at about $27,000. Finally, Armstrong Advisory Group Inc. raised its stake in shares of Fastenal by 100.0% in the 2nd quarter. Armstrong Advisory Group Inc. now owns 696 shares of the company’s stock valued at $29,000 after purchasing an additional 348 shares in the last quarter. 81.38% of the stock is currently owned by hedge funds and other institutional investors.

Fastenal Trading Up 0.5%

NASDAQ:FAST opened at $43.74 on Friday. The stock has a market cap of $50.22 billion, a price-to-earnings ratio of 40.88, a PEG ratio of 3.14 and a beta of 0.90. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.19 and a current ratio of 4.26. Fastenal Company has a 1 year low of $35.31 and a 1 year high of $50.63. The business has a fifty day moving average of $41.17 and a 200-day moving average of $44.41.

Insider Activity at Fastenal

In other news, Director Sarah N. Nielsen bought 1,000 shares of the business’s stock in a transaction on Wednesday, November 19th. The stock was purchased at an average cost of $39.60 per share, for a total transaction of $39,600.00. Following the completion of the transaction, the director directly owned 5,000 shares of the company’s stock, valued at approximately $198,000. This trade represents a 25.00% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Hsenghung Sam Hsu purchased 1,000 shares of the stock in a transaction dated Thursday, November 13th. The shares were purchased at an average price of $49.58 per share, for a total transaction of $49,580.00. Following the completion of the transaction, the director owned 10,000 shares in the company, valued at $495,800. This trade represents a 11.11% increase in their position. The SEC filing for this purchase provides additional information. 0.37% of the stock is owned by insiders.

Analysts Set New Price Targets

Several brokerages recently weighed in on FAST. Barclays lowered their price objective on Fastenal from $45.00 to $44.00 and set an “equal weight” rating for the company in a report on Thursday, November 13th. UBS Group raised shares of Fastenal from a “hold” rating to a “buy” rating and increased their target price for the stock from $45.00 to $52.00 in a report on Monday, December 15th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Fastenal in a report on Monday, December 29th. Sanford C. Bernstein reaffirmed an “underperform” rating on shares of Fastenal in a research report on Monday, December 29th. Finally, Wolfe Research raised shares of Fastenal from an “underperform” rating to a “peer perform” rating and set a $43.00 target price on the stock in a report on Thursday, November 13th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Fastenal currently has an average rating of “Hold” and a consensus target price of $48.73.

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.