NN Investment Partners Holdings N.V. raised its holdings in shares of Fastenal (NASDAQ:FAST) by 0.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 191,191 shares of the company’s stock after acquiring an additional 1,100 shares during the period. NN Investment Partners Holdings N.V.’s holdings in Fastenal were worth $9,867,000 at the end of the most recent quarter.
Several other hedge funds have also added to or reduced their stakes in the company. JFS Wealth Advisors LLC raised its holdings in shares of Fastenal by 141.0% during the third quarter. JFS Wealth Advisors LLC now owns 482 shares of the company’s stock worth $25,000 after purchasing an additional 282 shares during the last quarter. Spectrum Management Group LLC acquired a new stake in Fastenal during the 3rd quarter worth about $44,000. Strategic Blueprint LLC purchased a new stake in shares of Fastenal in the second quarter worth about $52,000. Dark Forest Capital Management LP acquired a new stake in Fastenal during the second quarter worth about $60,000. Finally, Farmers & Merchants Investments Inc. raised its position in Fastenal by 28.6% during the third quarter. Farmers & Merchants Investments Inc. now owns 1,208 shares of the company’s stock valued at $62,000 after acquiring an additional 269 shares in the last quarter. 77.19% of the stock is currently owned by institutional investors and hedge funds.
FAST stock opened at $59.20 on Friday. The company has a market cap of $34.05 billion, a price-to-earnings ratio of 38.19, a PEG ratio of 3.91 and a beta of 1.25. The firm has a 50-day moving average of $61.45 and a two-hundred day moving average of $56.82. Fastenal has a 12 month low of $43.37 and a 12 month high of $64.75. The company has a current ratio of 4.18, a quick ratio of 2.07 and a debt-to-equity ratio of 0.11.
Several research firms recently issued reports on FAST. Morgan Stanley boosted their target price on shares of Fastenal from $48.00 to $53.00 and gave the company an “underweight” rating in a research note on Friday. Wells Fargo & Company lowered Fastenal from an “equal weight” rating to an “underweight” rating and decreased their target price for the company from $50.00 to $45.00 in a research report on Friday, October 8th. Robert W. Baird boosted their price target on shares of Fastenal from $59.00 to $62.00 and gave the stock an “outperform” rating in a report on Tuesday, December 7th. Loop Capital upped their price objective on shares of Fastenal from $53.00 to $57.00 and gave the stock a “hold” rating in a research report on Tuesday, December 7th. They noted that the move was a valuation call. Finally, Zacks Investment Research upgraded shares of Fastenal from a “hold” rating to a “buy” rating and set a $57.00 target price on the stock in a research report on Tuesday, September 28th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $56.50.
In other news, VP John Lewis Soderberg sold 6,428 shares of the firm’s stock in a transaction that occurred on Friday, November 5th. The shares were sold at an average price of $59.36, for a total transaction of $381,566.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP James C. Jansen sold 25,000 shares of Fastenal stock in a transaction that occurred on Monday, December 6th. The shares were sold at an average price of $62.02, for a total transaction of $1,550,500.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 38,058 shares of company stock valued at $2,349,690. 0.56% of the stock is owned by company insiders.
Fastenal Co engages in the provision of fasteners, tools, and supplies which can help in the manufacture of products, build structures, protect personnel, and maintain facilities and equipment. It products include cutting tools & metalworking, fasteners, material handling, storage & packaging power, transmission & motors, tools & equipment, electricals, abrasives, hydraulics & pneumatics, plumbing, lifting & rigging, raw materials, fleet & automotive, welding, office products & furniture, janitorial and lighting.
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