24,426 Shares in Fastenal (NASDAQ:FAST) Acquired by Matrix Trust Co

Matrix Trust Co purchased a new stake in Fastenal (NASDAQ:FAST) in the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 24,426 shares of the company’s stock, valued at approximately $1,756,000.

Several other large investors also recently modified their holdings of FAST. King Luther Capital Management Corp boosted its stake in Fastenal by 1.6% during the third quarter. King Luther Capital Management Corp now owns 8,664 shares of the company’s stock worth $619,000 after acquiring an additional 136 shares in the last quarter. Verdence Capital Advisors LLC raised its holdings in shares of Fastenal by 1.9% in the third quarter. Verdence Capital Advisors LLC now owns 7,628 shares of the company’s stock valued at $545,000 after purchasing an additional 142 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. raised its holdings in shares of Fastenal by 5.8% in the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,607 shares of the company’s stock valued at $186,000 after purchasing an additional 143 shares during the last quarter. Compass Ion Advisors LLC raised its holdings in shares of Fastenal by 1.5% in the third quarter. Compass Ion Advisors LLC now owns 9,927 shares of the company’s stock valued at $709,000 after purchasing an additional 146 shares during the last quarter. Finally, Catalina Capital Group LLC raised its holdings in shares of Fastenal by 4.5% in the third quarter. Catalina Capital Group LLC now owns 3,359 shares of the company’s stock valued at $240,000 after purchasing an additional 146 shares during the last quarter. 81.38% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently commented on FAST. Robert W. Baird increased their target price on shares of Fastenal from $67.00 to $80.00 and gave the company a “neutral” rating in a report on Monday, October 14th. JPMorgan Chase & Co. increased their target price on shares of Fastenal from $57.00 to $63.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. Morgan Stanley increased their target price on shares of Fastenal from $72.00 to $76.00 and gave the company an “equal weight” rating in a report on Monday, October 14th. UBS Group assumed coverage on shares of Fastenal in a report on Wednesday, November 13th. They set a “neutral” rating and a $88.00 price objective for the company. Finally, Stephens raised their price objective on shares of Fastenal from $56.00 to $75.00 and gave the stock an “equal weight” rating in a report on Monday, October 14th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $77.40.

Fastenal Price Performance

FAST opened at $71.63 on Monday. The company has a market capitalization of $41.04 billion, a price-to-earnings ratio of 35.64, a PEG ratio of 4.64 and a beta of 1.02. The company has a quick ratio of 2.29, a current ratio of 4.40 and a debt-to-equity ratio of 0.03. The firm has a 50-day moving average price of $78.60 and a 200-day moving average price of $72.66. Fastenal has a twelve month low of $61.36 and a twelve month high of $84.88.

Fastenal (NASDAQ:FAST) last released its quarterly earnings data on Friday, October 11th. The company reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.01. Fastenal had a net margin of 15.44% and a return on equity of 33.30%. The company had revenue of $1.91 billion during the quarter, compared to analyst estimates of $1.90 billion. During the same period last year, the business earned $0.52 earnings per share. Fastenal’s revenue was up 3.5% compared to the same quarter last year. Equities analysts expect that Fastenal will post 2.03 EPS for the current year.

Insider Activity

In other Fastenal news, VP Charles S. Miller sold 23,480 shares of Fastenal stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $83.92, for a total transaction of $1,970,441.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Daniel L. Johnson sold 8,474 shares of the business’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $83.36, for a total transaction of $706,392.64. Following the completion of the sale, the director now owns 10,595 shares of the company’s stock, valued at approximately $883,199.20. The trade was a 44.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 114,234 shares of company stock worth $9,272,924. 0.41% of the stock is owned by company insiders.

About Fastenal

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.