Fastenal (NASDAQ:FAST) Stock Position Trimmed by Carolina Wealth Advisors LLC

Carolina Wealth Advisors LLC trimmed its holdings in shares of Fastenal (NASDAQ:FAST) by 1.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 100,414 shares of the company’s stock after selling 1,687 shares during the period. Fastenal comprises 3.9% of Carolina Wealth Advisors LLC’s investment portfolio, making the stock its 8th biggest holding. Carolina Wealth Advisors LLC’s holdings in Fastenal were worth $7,221,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. State Street Corp raised its position in Fastenal by 5.1% in the third quarter. State Street Corp now owns 27,989,485 shares of the company’s stock worth $1,999,009,000 after acquiring an additional 1,346,863 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Fastenal by 3.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 19,878,045 shares of the company’s stock worth $1,419,690,000 after purchasing an additional 608,596 shares during the period. Geode Capital Management LLC grew its stake in shares of Fastenal by 5.6% during the 3rd quarter. Geode Capital Management LLC now owns 16,683,751 shares of the company’s stock worth $1,188,251,000 after purchasing an additional 880,372 shares during the period. Legal & General Group Plc increased its holdings in shares of Fastenal by 3.4% in the 2nd quarter. Legal & General Group Plc now owns 5,909,206 shares of the company’s stock valued at $371,334,000 after purchasing 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 shares of 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 valued at $336,974,000 after purchasing an additional 226,126 shares during the period. 81.38% of the stock is owned by institutional investors and hedge funds.

Fastenal Stock Performance

NASDAQ:FAST opened at $74.27 on Thursday. Fastenal has a fifty-two week low of $61.36 and a fifty-two week high of $84.88. The firm’s 50 day moving average is $78.41 and its two-hundred day moving average is $72.81. The company has a market cap of $42.55 billion, a P/E ratio of 36.95, a P/E/G ratio of 3.94 and a beta of 1.02. The company has a quick ratio of 2.29, a current ratio of 4.40 and a debt-to-equity ratio of 0.03.

Insider Buying and Selling

In other Fastenal news, Director Daniel L. Johnson sold 8,474 shares of Fastenal stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $83.36, for a total transaction of $706,392.64. Following the transaction, the director now directly owns 10,595 shares of the company’s stock, valued at $883,199.20. The trade was a 44.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Rita J. Heise sold 10,888 shares of the stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $77.67, for a total transaction of $845,670.96. Following the completion of the sale, the director now directly owns 20,000 shares of the company’s stock, valued at $1,553,400. The trade was a 35.25 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 74,660 shares of company stock valued at $6,211,126. 0.41% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

FAST has been the topic of a number of research reports. HSBC cut 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. Stephens lifted their target price on shares of Fastenal from $56.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Monday, October 14th. Morgan Stanley upped their price target on shares of Fastenal from $72.00 to $76.00 and gave the company an “equal weight” rating in a report on Monday, October 14th. Robert W. Baird upped their target price on Fastenal from $67.00 to $80.00 and gave the company a “neutral” rating in a research note on Monday, October 14th. Finally, JPMorgan Chase & Co. boosted their price target on Fastenal from $57.00 to $63.00 and gave the stock a “neutral” rating in a report on Thursday, October 10th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $77.40.

Fastenal Profile

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.