Kathmere Capital Management LLC Acquires 512 Shares of Fastenal (NASDAQ:FAST)

Kathmere Capital Management LLC raised its holdings in shares of Fastenal (NASDAQ:FAST) by 5.4% during the fourth quarter, HoldingsChannel reports. The fund owned 10,025 shares of the company’s stock after purchasing an additional 512 shares during the quarter. Kathmere Capital Management LLC’s holdings in Fastenal were worth $721,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in FAST. Ashton Thomas Securities LLC bought a new stake in shares of Fastenal during the 3rd quarter valued at $25,000. Knuff & Co LLC purchased a new position in Fastenal during the 3rd quarter valued at about $27,000. Moisand Fitzgerald Tamayo LLC increased its position in shares of Fastenal by 1,019.0% during the third quarter. Moisand Fitzgerald Tamayo LLC now owns 470 shares of the company’s stock valued at $34,000 after buying an additional 428 shares during the period. First Personal Financial Services purchased a new stake in shares of Fastenal in the third quarter worth about $36,000. Finally, CVA Family Office LLC boosted its position in shares of Fastenal by 51.0% in the third quarter. CVA Family Office LLC now owns 533 shares of the company’s stock valued at $38,000 after acquiring an additional 180 shares during the period. Hedge funds and other institutional investors own 81.38% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on FAST. Bank of America began coverage on shares of Fastenal in a report on Monday, October 7th. They set a “buy” rating and a $85.00 target price on the stock. Stifel Nicolaus downgraded Fastenal from a “buy” rating to a “hold” rating and set a $86.00 price objective on the stock. in a research report on Wednesday, December 11th. HSBC cut Fastenal from a “hold” rating to a “reduce” rating and set a $70.00 target price for the company. in a research report on Wednesday, December 11th. Morgan Stanley lifted their price target on Fastenal from $72.00 to $76.00 and gave the company an “equal weight” rating in a research report on Monday, October 14th. Finally, Jefferies Financial Group boosted their price objective on Fastenal from $74.00 to $85.00 and gave the stock a “hold” rating in a report on Friday, December 6th. One investment 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’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $77.40.

Fastenal Stock Up 0.7 %

Shares of NASDAQ FAST opened at $74.27 on Thursday. The stock has a market capitalization of $42.55 billion, a P/E ratio of 36.95, a PEG ratio of 4.64 and a beta of 1.02. Fastenal has a one year low of $61.36 and a one year high of $84.88. The firm’s 50 day simple moving average is $78.41 and its two-hundred day simple moving average is $72.81. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.40 and a quick ratio of 2.29.

Insider Activity

In other news, Director Daniel L. Johnson sold 8,474 shares of the business’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $83.36, for a total value of $706,392.64. Following the completion of the sale, the director now owns 10,595 shares of the company’s stock, valued at approximately $883,199.20. The trade was a 44.44 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Rita J. Heise sold 10,888 shares of the firm’s stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $77.67, for a total value of $845,670.96. Following the transaction, the director now owns 20,000 shares in the company, valued at approximately $1,553,400. The trade was a 35.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 74,660 shares of company stock valued at $6,211,126. Corporate insiders own 0.41% of the company’s stock.

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.