Stephens Investment Management Group LLC Has $22.89 Million Position in Fastenal Company $FAST

Stephens Investment Management Group LLC raised its holdings in Fastenal Company (NASDAQ:FAST) by 3.3% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 466,719 shares of the company’s stock after acquiring an additional 14,727 shares during the quarter. Stephens Investment Management Group LLC’s holdings in Fastenal were worth $22,888,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Brighton Jones LLC bought a new stake in Fastenal in the fourth quarter valued at about $496,000. Integrated Wealth Concepts LLC grew its position in shares of Fastenal by 2.4% during the 1st quarter. Integrated Wealth Concepts LLC now owns 6,276 shares of the company’s stock worth $487,000 after buying an additional 147 shares during the period. Sovran Advisors LLC increased its stake in shares of Fastenal by 77.8% in the 2nd quarter. Sovran Advisors LLC now owns 18,238 shares of the company’s stock valued at $781,000 after acquiring an additional 7,979 shares during the last quarter. Focus Financial Network Inc. raised its position in shares of Fastenal by 124.8% in the 2nd quarter. Focus Financial Network Inc. now owns 18,624 shares of the company’s stock valued at $782,000 after acquiring an additional 10,341 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in Fastenal by 120.8% during the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 147,046 shares of the company’s stock worth $6,176,000 after acquiring an additional 80,439 shares during the last quarter. Institutional investors and hedge funds own 81.38% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on FAST. Wolfe Research raised shares of Fastenal from an “underperform” rating to a “peer perform” rating and set a $43.00 target price for the company in a research note on Thursday, November 13th. Robert W. Baird decreased their price target on shares of Fastenal from $53.00 to $49.00 and set an “outperform” rating for the company in a report on Tuesday, October 14th. Jefferies Financial Group set a $52.00 price objective on shares of Fastenal and gave the company a “buy” rating in a research report on Monday, December 15th. Barclays reduced their target price on Fastenal from $45.00 to $44.00 and set an “equal weight” rating on the stock in a report on Thursday, November 13th. Finally, UBS Group upgraded Fastenal from a “hold” rating to a “buy” rating and increased their price target for the stock from $45.00 to $52.00 in a report on Monday, December 15th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Fastenal has an average rating of “Hold” and a consensus price target of $48.73.

Fastenal Trading Up 0.5%

NASDAQ:FAST opened at $43.74 on Friday. The company has a market cap of $50.22 billion, a P/E ratio of 40.88, a price-to-earnings-growth ratio of 3.14 and a beta of 0.90. Fastenal Company has a twelve month low of $35.31 and a twelve month high of $50.63. The business has a 50 day moving average price of $41.17 and a two-hundred day moving average price of $44.41. The company has a quick ratio of 2.19, a current ratio of 4.26 and a debt-to-equity ratio of 0.03.

Insider Transactions at Fastenal

In related news, Director Sarah N. Nielsen bought 1,000 shares of the stock in a transaction that occurred on Wednesday, November 19th. The shares were acquired at an average price of $39.60 per share, with a total value of $39,600.00. Following the completion of the transaction, the director owned 5,000 shares in the company, valued at $198,000. The trade was a 25.00% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Hsenghung Sam Hsu acquired 1,000 shares of the business’s stock in a transaction dated Thursday, November 13th. The stock was bought at an average cost of $49.58 per share, with a total value of $49,580.00. Following the acquisition, the director owned 10,000 shares in the company, valued at $495,800. The trade was a 11.11% increase in their position. The disclosure for this purchase is available in the SEC filing. 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.