Hennion & Walsh Asset Management Inc. Sells 15,926 Shares of Fastenal Company $FAST

Hennion & Walsh Asset Management Inc. lowered its holdings in Fastenal Company (NASDAQ:FAST) by 52.7% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 14,315 shares of the company’s stock after selling 15,926 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in Fastenal were worth $702,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of FAST. Vanguard Group Inc. increased its position in Fastenal by 103.5% during the second quarter. Vanguard Group Inc. now owns 149,169,494 shares of the company’s stock worth $6,265,119,000 after acquiring an additional 75,852,223 shares during the period. State Street Corp grew its position in Fastenal by 99.6% in the 2nd quarter. State Street Corp now owns 54,317,385 shares of the company’s stock worth $2,281,330,000 after purchasing an additional 27,107,520 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Fastenal by 103.4% during the second quarter. Charles Schwab Investment Management Inc. now owns 45,995,937 shares of the company’s stock worth $1,931,830,000 after buying an additional 23,380,022 shares in the last quarter. Geode Capital Management LLC raised its holdings in Fastenal by 103.8% in the 2nd quarter. Geode Capital Management LLC now owns 35,984,281 shares of the company’s stock valued at $1,506,141,000 after acquiring an additional 18,329,847 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of Fastenal by 87.9% during the second quarter. Bank of New York Mellon Corp now owns 34,851,036 shares of the company’s stock valued at $1,463,743,000 after purchasing an additional 16,308,254 shares during the period. 81.38% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Fastenal

In other Fastenal 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 transaction, the director owned 10,000 shares in the company, valued at approximately $495,800. This trade represents a 11.11% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Sarah N. Nielsen bought 1,000 shares of the stock in a transaction on Wednesday, November 19th. The shares were acquired at an average cost of $39.60 per share, with a total value of $39,600.00. Following the acquisition, the director directly owned 5,000 shares in the company, valued at approximately $198,000. This trade represents a 25.00% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have bought 3,000 shares of company stock worth $131,630 in the last ninety days. 0.37% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on FAST shares. Robert W. Baird lowered their price target on shares of Fastenal from $53.00 to $49.00 and set an “outperform” rating on the stock in a report on Tuesday, October 14th. Sanford C. Bernstein reaffirmed an “underperform” rating on shares of Fastenal in a report on Monday, December 29th. Jefferies Financial Group set a $52.00 price target on Fastenal and gave the company a “buy” rating in a research note on Monday, December 15th. UBS Group raised Fastenal from a “hold” rating to a “buy” rating and lifted their price objective for the company from $45.00 to $52.00 in a report on Monday, December 15th. Finally, Wolfe Research raised shares of Fastenal from an “underperform” rating to a “peer perform” rating and set a $43.00 target price on the stock in a report on Thursday, November 13th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $48.73.

Fastenal Price Performance

Shares of FAST stock opened at $41.98 on Friday. Fastenal Company has a 52 week low of $35.31 and a 52 week high of $50.63. The stock has a market capitalization of $48.19 billion, a PE ratio of 39.23, a PEG ratio of 3.01 and a beta of 0.90. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.19 and a current ratio of 4.26. The stock’s fifty day moving average is $41.01 and its 200-day moving average is $44.38.

Fastenal (NASDAQ:FAST) last issued its quarterly earnings data on Tuesday, October 14th. The company reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.01). Fastenal had a return on equity of 32.69% and a net margin of 15.34%.The company had revenue of $2.13 billion for the quarter, compared to the consensus estimate of $2.13 billion. During the same period in the prior year, the company earned $0.26 EPS. The firm’s revenue was up 11.7% compared to the same quarter last year. Equities research analysts expect that Fastenal Company will post 2.15 EPS for the current fiscal year.

Fastenal 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.