Sawyer & Company Inc Cuts Stock Position in Fastenal (NASDAQ:FAST)

Sawyer & Company Inc decreased its holdings in Fastenal (NASDAQ:FASTFree Report) by 3.0% in the 4th quarter, HoldingsChannel reports. The firm owned 10,018 shares of the company’s stock after selling 305 shares during the quarter. Sawyer & Company Inc’s holdings in Fastenal were worth $720,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the business. State Street Corp grew its stake in Fastenal by 5.1% during the 3rd quarter. State Street Corp now owns 27,989,485 shares of the company’s stock worth $1,999,009,000 after purchasing an additional 1,346,863 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Fastenal by 3.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 19,878,045 shares of the company’s stock worth $1,419,690,000 after buying an additional 608,596 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Fastenal by 5.6% during the third quarter. Geode Capital Management LLC now owns 16,683,751 shares of the company’s stock worth $1,188,251,000 after buying an additional 880,372 shares during the period. Legal & General Group Plc raised its holdings in Fastenal by 3.4% in the second quarter. Legal & General Group Plc now owns 5,909,206 shares of the company’s stock valued at $371,334,000 after acquiring an additional 193,734 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Fastenal by 5.0% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,718,200 shares of the company’s stock worth $336,974,000 after acquiring an additional 226,126 shares during the last quarter. Institutional investors and hedge funds own 81.38% of the company’s stock.

Insider Activity

In related news, Director Daniel L. Johnson sold 8,474 shares of the company’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 value of $706,392.64. Following the sale, the director now owns 10,595 shares in the company, valued at $883,199.20. This represents a 44.44 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Rita J. Heise sold 10,888 shares of Fastenal stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $77.67, for a total value of $845,670.96. Following the transaction, 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 74,660 shares of company stock worth $6,211,126 in the last 90 days. 0.41% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. HSBC lowered shares of Fastenal from a “hold” rating to a “reduce” rating and set a $70.00 price objective on the stock. in a report on Wednesday, December 11th. Stephens raised their price target on Fastenal from $56.00 to $75.00 and gave the company an “equal weight” rating in a research note on Monday, October 14th. Bank of America initiated coverage on Fastenal in a report on Monday, October 7th. They issued a “buy” rating and a $85.00 price objective on the stock. Robert W. Baird boosted their target price on Fastenal from $67.00 to $80.00 and gave the stock a “neutral” rating in a research note on Monday, October 14th. Finally, Morgan Stanley raised their price objective on shares of Fastenal from $72.00 to $76.00 and gave the stock an “equal weight” rating in a report on Monday, October 14th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $77.40.

Get Our Latest Report on Fastenal

Fastenal Trading Up 0.7 %

Shares of FAST stock opened at $74.27 on Thursday. The firm has a market capitalization of $42.55 billion, a PE ratio of 36.95, a P/E/G ratio of 4.64 and a beta of 1.02. Fastenal has a 1-year low of $61.36 and a 1-year high of $84.88. The business’s fifty day moving average price is $78.41 and its 200 day moving average price is $72.81. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.40 and a quick ratio of 2.29.

About Fastenal

(Free Report)

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.

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Institutional Ownership by Quarter for Fastenal (NASDAQ:FAST)

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