114,763 Shares in Fastenal Company $FAST Bought by CPC Advisors LLC

CPC Advisors LLC acquired a new position in Fastenal Company (NASDAQ:FAST) during the third quarter, Holdings Channel.com reports. The firm acquired 114,763 shares of the company’s stock, valued at approximately $5,628,000.

Several other large investors also recently modified their holdings of the business. Riverview Trust Co boosted its holdings in Fastenal by 100.0% in the second quarter. Riverview Trust Co now owns 584 shares of the company’s stock valued at $25,000 after purchasing an additional 292 shares during the last quarter. Hilltop National Bank acquired a new position in shares of Fastenal in the 2nd quarter valued at approximately $27,000. Private Wealth Management Group LLC raised 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 valued at $27,000 after purchasing an additional 339 shares in the last quarter. Twin Peaks Wealth Advisors LLC purchased a new position in shares of Fastenal during the 2nd quarter valued at approximately $27,000. Finally, Armstrong Advisory Group Inc. grew its position 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 buying an additional 348 shares in the last quarter. 81.38% of the stock is currently owned by institutional investors and hedge funds.

Fastenal Price Performance

FAST opened at $41.70 on Tuesday. The firm has a market cap of $47.87 billion, a price-to-earnings ratio of 38.97, a price-to-earnings-growth ratio of 3.01 and a beta of 0.90. Fastenal Company has a fifty-two week low of $35.31 and a fifty-two week high of $50.63. The company’s 50-day moving average price is $41.02 and its 200 day moving average price is $44.41. The company has a quick ratio of 2.19, a current ratio of 4.26 and a debt-to-equity ratio of 0.03.

Fastenal (NASDAQ:FAST) last issued its earnings results on Tuesday, October 14th. The company reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.01). The company had revenue of $2.13 billion during the quarter, compared to analyst estimates of $2.13 billion. Fastenal had a net margin of 15.34% and a return on equity of 32.69%. The business’s revenue was up 11.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.26 earnings per share. As a group, sell-side analysts expect that Fastenal Company will post 2.15 earnings per share for the current year.

Analyst Ratings Changes

Several research firms recently issued reports on FAST. Wolfe Research raised shares of Fastenal from an “underperform” rating to a “peer perform” rating and set a $43.00 price target on the stock in a report on Thursday, November 13th. Barclays dropped their target price on shares of Fastenal from $45.00 to $44.00 and set an “equal weight” rating for the company in a research report on Thursday, November 13th. Sanford C. Bernstein reiterated an “underperform” rating on shares of Fastenal in a research note on Monday, December 29th. Robert W. Baird lowered their price objective on Fastenal from $53.00 to $49.00 and set an “outperform” rating for the company in a report on Tuesday, October 14th. Finally, UBS Group raised 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. One investment 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 assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $48.73.

Insider Activity at Fastenal

In related news, Director Hsenghung Sam Hsu bought 1,000 shares of the business’s stock in a transaction on Thursday, November 13th. The shares were bought at an average cost of $49.58 per share, for a total transaction of $49,580.00. Following the completion of the purchase, the director owned 10,000 shares of the company’s stock, valued at $495,800. This represents a 11.11% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Sarah N. Nielsen purchased 1,000 shares of Fastenal stock in a transaction dated Wednesday, November 19th. The shares were purchased at an average cost of $39.60 per share, with a total value of $39,600.00. Following the acquisition, the director 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 SEC filing for this purchase provides additional information. In the last three months, insiders purchased 3,000 shares of company stock worth $131,630. Company insiders own 0.37% of the company’s stock.

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.