45,269 Shares in Fastenal Company $FAST Acquired by Donoghue Forlines LLC

Donoghue Forlines LLC purchased a new position in Fastenal Company (NASDAQ:FAST) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 45,269 shares of the company’s stock, valued at approximately $2,220,000.

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

Fastenal Trading Up 0.5%

Fastenal stock opened at $43.74 on Friday. Fastenal Company has a 12 month low of $35.31 and a 12 month high of $50.63. The company has a quick ratio of 2.19, a current ratio of 4.26 and a debt-to-equity ratio of 0.03. The stock has a market cap of $50.22 billion, a P/E ratio of 40.88, a P/E/G ratio of 3.14 and a beta of 0.90. The company’s fifty day simple moving average is $41.17 and its 200-day simple moving average is $44.41.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on FAST shares. UBS Group raised shares of Fastenal from a “hold” rating to a “buy” rating and lifted their target price for the stock from $45.00 to $52.00 in a research report on Monday, December 15th. Barclays lowered their price objective on shares of Fastenal from $45.00 to $44.00 and set an “equal weight” rating on the stock in a research report on Thursday, November 13th. Weiss Ratings reissued a “buy (b-)” rating on shares of Fastenal in a research note on Monday, December 29th. Jefferies Financial Group set a $52.00 target price on Fastenal and gave the stock a “buy” rating in a research report on Monday, December 15th. Finally, Sanford C. Bernstein reissued an “underperform” rating on shares of Fastenal in a research report on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $48.73.

Insider Activity

In other news, Director Sarah N. Nielsen acquired 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 19th. The shares were purchased at an average price of $39.60 per share, for a total transaction of $39,600.00. Following the completion of the acquisition, the director owned 5,000 shares of the company’s stock, valued at approximately $198,000. This represents a 25.00% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Hsenghung Sam Hsu bought 1,000 shares of Fastenal stock in a transaction on Thursday, November 13th. The stock was acquired at an average price of $49.58 per share, with a total value of $49,580.00. Following the completion of the purchase, the director directly owned 10,000 shares of the company’s stock, valued at approximately $495,800. The trade was a 11.11% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Corporate insiders own 0.37% of the company’s stock.

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.