Oregon Public Employees Retirement Fund Acquires 32,084 Shares of Fastenal Company $FAST

Oregon Public Employees Retirement Fund lifted its holdings in shares of Fastenal Company (NASDAQ:FAST) by 32.4% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 131,222 shares of the company’s stock after purchasing an additional 32,084 shares during the period. Oregon Public Employees Retirement Fund’s holdings in Fastenal were worth $6,435,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Integrated Wealth Concepts LLC raised its position in 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 purchasing an additional 147 shares during the last quarter. Sowell Financial Services LLC increased its stake in shares of Fastenal by 4.7% in the third quarter. Sowell Financial Services LLC now owns 5,308 shares of the company’s stock valued at $260,000 after buying an additional 238 shares during the period. Rowlandmiller & PARTNERS.ADV increased its stake in shares of Fastenal by 1.7% in the third quarter. Rowlandmiller & PARTNERS.ADV now owns 14,704 shares of the company’s stock valued at $721,000 after buying an additional 250 shares during the period. SOA Wealth Advisors LLC. raised its position in shares of Fastenal by 71.6% during the third quarter. SOA Wealth Advisors LLC. now owns 611 shares of the company’s stock worth $30,000 after acquiring an additional 255 shares during the last quarter. Finally, Harfst & Associates Inc. lifted its stake in shares of Fastenal by 0.4% in the third quarter. Harfst & Associates Inc. now owns 63,720 shares of the company’s stock worth $3,125,000 after acquiring an additional 256 shares during the period. 81.38% of the stock is currently owned by institutional investors and hedge funds.

Fastenal Stock Up 0.4%

Shares of NASDAQ FAST opened at $41.98 on Friday. The company has a quick ratio of 2.19, a current ratio of 4.26 and a debt-to-equity ratio of 0.03. The firm has a market cap of $48.19 billion, a PE ratio of 39.23, a P/E/G ratio of 3.01 and a beta of 0.90. The company’s fifty day simple moving average is $41.01 and its 200 day simple moving average is $44.38. Fastenal Company has a 12-month low of $35.31 and a 12-month high of $50.63.

Fastenal (NASDAQ:FAST) last announced its quarterly earnings data on Tuesday, October 14th. The company reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.01). The company had revenue of $2.13 billion for the quarter, compared to analyst estimates of $2.13 billion. Fastenal had a net margin of 15.34% and a return on equity of 32.69%. Fastenal’s revenue for the quarter was up 11.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.26 EPS. As a group, sell-side analysts forecast that Fastenal Company will post 2.15 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Sarah N. Nielsen purchased 1,000 shares of the business’s stock in a transaction on Wednesday, November 19th. The shares were acquired at an average price of $39.60 per share, for a total transaction of $39,600.00. Following the completion of the acquisition, the director owned 5,000 shares in the company, valued at approximately $198,000. The trade was a 25.00% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Hsenghung Sam Hsu acquired 1,000 shares of Fastenal stock in a transaction on Thursday, November 13th. The stock was purchased at an average cost of $49.58 per share, with a total value of $49,580.00. Following the purchase, the director directly owned 10,000 shares of the company’s stock, valued at approximately $495,800. This trade represents a 11.11% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders have purchased 3,000 shares of company stock worth $131,630. 0.37% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several brokerages recently commented on FAST. Robert W. Baird reduced their target price on Fastenal from $53.00 to $49.00 and set an “outperform” rating on the stock in a report on Tuesday, October 14th. Barclays dropped their price target on shares of Fastenal from $45.00 to $44.00 and set an “equal weight” rating on the stock in a research report on Thursday, November 13th. Sanford C. Bernstein reiterated an “underperform” rating on shares of Fastenal in a research report on Monday, December 29th. 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. Finally, UBS Group upgraded shares of Fastenal from a “hold” rating to a “buy” rating and boosted their target price for the company from $45.00 to $52.00 in a report on Monday, December 15th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Fastenal has an average rating of “Hold” and a consensus target price of $48.73.

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.