Fastenal (NASDAQ:FAST) Shares Bought by Cullinan Associates Inc.

Cullinan Associates Inc. grew its stake in shares of Fastenal (NASDAQ:FAST) by 30.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,700 shares of the company’s stock after acquiring an additional 2,500 shares during the period. Cullinan Associates Inc.’s holdings in Fastenal were worth $395,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Neo Ivy Capital Management acquired a new position in shares of Fastenal in the 2nd quarter valued at about $32,000. Executive Wealth Management LLC boosted its holdings in shares of Fastenal by 120.7% in the 3rd quarter. Executive Wealth Management LLC now owns 1,249 shares of the company’s stock valued at $40,000 after buying an additional 683 shares during the period. Massmutual Trust Co. FSB ADV boosted its holdings in shares of Fastenal by 97.7% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 1,400 shares of the company’s stock valued at $46,000 after buying an additional 692 shares during the period. Simon Quick Advisors LLC boosted its holdings in shares of Fastenal by 133.4% in the 4th quarter. Simon Quick Advisors LLC now owns 1,620 shares of the company’s stock valued at $60,000 after buying an additional 926 shares during the period. Finally, CSat Investment Advisory L.P. boosted its holdings in shares of Fastenal by 504.9% in the 2nd quarter. CSat Investment Advisory L.P. now owns 1,621 shares of the company’s stock valued at $53,000 after buying an additional 1,353 shares during the period. 84.45% of the stock is owned by institutional investors.

Fastenal stock opened at $36.79 on Thursday. The company has a quick ratio of 2.06, a current ratio of 4.51 and a debt-to-equity ratio of 0.23. The firm has a 50-day moving average price of $36.45 and a two-hundred day moving average price of $33.68. The firm has a market capitalization of $21.12 billion, a price-to-earnings ratio of 27.87, a PEG ratio of 1.80 and a beta of 1.25. Fastenal has a 52-week low of $27.01 and a 52-week high of $37.94.

FAST has been the subject of several research reports. Robert W. Baird lifted their price target on shares of Fastenal from $34.00 to $37.00 and gave the company a “neutral” rating in a report on Monday, October 14th. Edward Jones lowered shares of Fastenal from a “buy” rating to a “hold” rating in a report on Wednesday, October 30th. Raymond James lowered shares of Fastenal from a “strong-buy” rating to a “market perform” rating in a report on Monday, October 14th. Morgan Stanley lifted their price target on shares of Fastenal from $31.00 to $34.00 and gave the company an “equal weight” rating in a report on Wednesday, December 11th. Finally, Zacks Investment Research lowered shares of Fastenal from a “hold” rating to a “sell” rating and set a $38.00 price target for the company. in a report on Monday, October 14th. Four analysts have rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $73.78.

In other Fastenal news, EVP Charles S. Miller sold 4,376 shares of the business’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $35.98, for a total transaction of $157,448.48. Following the completion of the transaction, the executive vice president now directly owns 11,876 shares of the company’s stock, valued at approximately $427,298.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Willard D. Oberton sold 100,000 shares of the business’s stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $37.00, for a total transaction of $3,700,000.00. Following the transaction, the director now directly owns 114,194 shares of the company’s stock, valued at $4,225,178. The disclosure for this sale can be found here. Insiders have sold a total of 141,620 shares of company stock valued at $5,230,409 over the last three months. 0.56% of the stock is currently owned by company insiders.

About Fastenal

Fastenal Company, together with its subsidiaries, engages in the wholesale distribution of industrial and construction supplies in the United States, Canada, and internationally. It offers fasteners, and other industrial and construction supplies under the Fastenal name. The company's fastener products include threaded fasteners, such as bolts, nuts, screws, studs, and related washers, which 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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