Cullinan Associates Inc. Acquires 2,500 Shares of Fastenal (NASDAQ:FAST)

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Cullinan Associates Inc. grew its holdings in Fastenal (NASDAQ:FAST) by 30.5% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. 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 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Albert D Mason Inc. grew its position in Fastenal by 1.8% in the third quarter. Albert D Mason Inc. now owns 16,620 shares of the company’s stock worth $543,000 after acquiring an additional 290 shares in the last quarter. AdvisorNet Financial Inc grew its position in Fastenal by 19.0% in the third quarter. AdvisorNet Financial Inc now owns 1,814 shares of the company’s stock worth $59,000 after acquiring an additional 290 shares in the last quarter. Penserra Capital Management LLC grew its position in Fastenal by 7.3% in the third quarter. Penserra Capital Management LLC now owns 4,416 shares of the company’s stock worth $144,000 after acquiring an additional 300 shares in the last quarter. Capital City Trust Co. FL grew its position in Fastenal by 0.7% in the fourth quarter. Capital City Trust Co. FL now owns 46,790 shares of the company’s stock worth $1,729,000 after acquiring an additional 320 shares in the last quarter. Finally, Covenant Asset Management LLC grew its position in Fastenal by 3.0% in the third quarter. Covenant Asset Management LLC now owns 10,989 shares of the company’s stock worth $359,000 after acquiring an additional 325 shares in the last quarter. 84.45% of the stock is owned by institutional investors.

FAST has been the subject of a number of analyst reports. BidaskClub cut shares of Fastenal from a “hold” rating to a “sell” rating in a research note on Wednesday, January 8th. Morgan Stanley boosted their price objective on shares of Fastenal from $31.00 to $34.00 and gave the stock an “equal weight” rating in a research note on Wednesday, December 11th. Edward Jones cut shares of Fastenal from a “buy” rating to a “hold” rating in a research note on Wednesday, October 30th. Stephens cut shares of Fastenal from an “overweight” rating to an “equal” rating and boosted their price objective for the stock from $36.00 to $37.00 in a research note on Monday, October 14th. Finally, Cleveland Research restated a “hold” rating on shares of Fastenal in a research note on Tuesday, September 24th. Four analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $73.78.

In related news, Director Willard D. Oberton sold 100,000 shares of the company’s stock in a transaction on 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 completion of the transaction, the director now directly owns 114,194 shares in the company, valued at approximately $4,225,178. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Charles S. Miller sold 4,376 shares of the company’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $35.98, for a total transaction of $157,448.48. Following the transaction, the executive vice president now owns 11,876 shares of the company’s stock, valued at $427,298.48. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 141,620 shares of company stock valued at $5,230,409. Corporate insiders own 0.56% of the company’s stock.

NASDAQ:FAST opened at $36.79 on Thursday. The stock has a market cap of $21.12 billion, a P/E ratio of 27.87, a PEG ratio of 1.80 and a beta of 1.25. Fastenal has a one year low of $27.01 and a one year high of $37.94. The company has a fifty day moving average price of $36.45 and a 200 day moving average price of $33.68. The company has a debt-to-equity ratio of 0.23, a current ratio of 4.51 and a quick ratio of 2.06.

Fastenal Profile

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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