Board of the Pension Protection Fund Invests $748,000 in Fastenal (NASDAQ:FAST)


Board of the Pension Protection Fund Invests $748,000 in Fastenal (NASDAQ:FAST)

Board of the Pension Protection Fund bought a new position in shares of Fastenal (NASDAQ:FAST - Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor bought 10,400 shares of the company's stock, valued at approximately $748,000.

Other hedge funds also recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC purchased a new stake in shares of Fastenal during the third quarter worth $25,000. Knuff & Co LLC purchased a new stake in Fastenal during the 3rd quarter worth about $27,000. Moisand Fitzgerald Tamayo LLC increased its holdings in Fastenal by 1,019.0% during the 3rd quarter. Moisand Fitzgerald Tamayo LLC now owns 470 shares of the company's stock worth $34,000 after purchasing an additional 428 shares during the period. First Personal Financial Services acquired a new stake in Fastenal in the 3rd quarter valued at about $36,000. Finally, CVA Family Office LLC grew its position in shares of Fastenal by 51.0% during the third quarter. CVA Family Office LLC now owns 533 shares of the company's stock worth $38,000 after buying an additional 180 shares in the last quarter. 81.38% of the stock is currently owned by institutional investors and hedge funds.

FAST opened at $73.74 on Wednesday. The firm has a market cap of $42.24 billion, a price-to-earnings ratio of 36.69, a price-to-earnings-growth ratio of 4.64 and a beta of 1.02. Fastenal has a 52 week low of $61.36 and a 52 week high of $84.88. The business's 50 day moving average is $78.41 and its two-hundred day moving average is $72.81. The company has a quick ratio of 2.29, a current ratio of 4.40 and a debt-to-equity ratio of 0.03.

In related news, Director Daniel L. Johnson sold 8,474 shares of the business's stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $83.36, for a total value of $706,392.64. Following the transaction, the director now owns 10,595 shares in the company, valued at $883,199.20. The trade was a 44.44 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Rita J. Heise sold 10,888 shares of the company's stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $77.67, for a total value of $845,670.96. Following the sale, the director now directly owns 20,000 shares of the company's stock, valued at approximately $1,553,400. This represents a 35.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 74,660 shares of company stock worth $6,211,126 in the last 90 days. 0.41% of the stock is owned by insiders.

FAST has been the topic of several analyst reports. Jefferies Financial Group raised their target price on shares of Fastenal from $74.00 to $85.00 and gave the company a "hold" rating in a report on Friday, December 6th. Hsbc Global Res cut shares of Fastenal from a "hold" rating to a "moderate sell" rating in a research report on Wednesday, December 11th. Stifel Nicolaus downgraded shares of Fastenal from a "buy" rating to a "hold" rating and set a $86.00 target price for the company. in a research note on Wednesday, December 11th. Morgan Stanley raised their price target on Fastenal from $72.00 to $76.00 and gave the company an "equal weight" rating in a research note on Monday, October 14th. Finally, UBS Group assumed coverage on Fastenal in a research report on Wednesday, November 13th. They set a "neutral" rating and a $88.00 price objective for the company. One analyst has rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, Fastenal presently has a consensus rating of "Hold" and a consensus target price of $77.40.

Get Our Latest Stock Report on 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

Before you consider Fastenal, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Fastenal wasn't on the list.

While Fastenal currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.

Previous articleNext article

POPULAR CATEGORY

corporate

10742

tech

11464

entertainment

13188

research

6012

misc

14026

wellness

10686

athletics

14042