Sawyer & Company Inc Decreases Holdings in Fastenal (NASDAQ:FAST)

Sawyer & Company Inc lessened its position in Fastenal (NASDAQ:FAST) by 3.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund 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 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. American Century Companies Inc. lifted its position in shares of Fastenal by 13.7% in the 2nd quarter. American Century Companies Inc. now owns 630,377 shares of the company’s stock worth $39,613,000 after purchasing an additional 75,957 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Fastenal by 19.9% during the second quarter. Dimensional Fund Advisors LP now owns 3,837,530 shares of the company’s stock worth $241,161,000 after acquiring an additional 636,546 shares during the last quarter. Citizens Financial Group Inc. RI increased its holdings in shares of Fastenal by 399.5% during the second quarter. Citizens Financial Group Inc. RI now owns 13,940 shares of the company’s stock valued at $876,000 after acquiring an additional 11,149 shares in the last quarter. Renaissance Technologies LLC acquired a new stake in Fastenal in the 2nd quarter worth approximately $37,659,000. Finally, Moors & Cabot Inc. grew its position in Fastenal by 2.9% during the 2nd quarter. Moors & Cabot Inc. now owns 10,216 shares of the company’s stock worth $642,000 after purchasing an additional 284 shares during the last quarter. Institutional investors own 81.38% of the company’s stock.

Insiders Place Their Bets

In other Fastenal news, VP Charles S. Miller sold 23,480 shares of the company’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $83.92, for a total value of $1,970,441.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Rita J. Heise sold 10,888 shares of Fastenal stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $77.67, for a total transaction of $845,670.96. Following the sale, the director now 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. Over the last ninety days, insiders sold 74,660 shares of company stock worth $6,211,126. Company insiders own 0.41% of the company’s stock.

Analysts Set New Price Targets

FAST has been the subject of several research reports. Robert W. Baird lifted their price objective on shares of Fastenal from $67.00 to $80.00 and gave the stock a “neutral” rating in a research note on Monday, October 14th. Stephens increased their price objective on Fastenal from $56.00 to $75.00 and gave the company an “equal weight” rating in a report on Monday, October 14th. JPMorgan Chase & Co. lifted their target price on Fastenal from $57.00 to $63.00 and gave the stock a “neutral” rating in a report on Thursday, October 10th. HSBC downgraded shares of Fastenal from a “hold” rating to a “reduce” rating and set a $70.00 price target on the stock. in a report on Wednesday, December 11th. Finally, Jefferies Financial Group lifted their price objective on shares of Fastenal from $74.00 to $85.00 and gave the company a “hold” rating in a research note on Friday, December 6th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, Fastenal presently has an average rating of “Hold” and a consensus target price of $77.40.

Fastenal Stock Up 0.7 %

Fastenal stock opened at $74.27 on Thursday. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.40 and a quick ratio of 2.29. The stock has a market capitalization of $42.55 billion, a PE ratio of 36.95, a price-to-earnings-growth ratio of 4.64 and a beta of 1.02. The business has a 50 day simple moving average of $78.41 and a 200-day simple moving average of $72.81. Fastenal has a 12 month low of $61.36 and a 12 month high of $84.88.

About 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.