B & T Capital Management DBA Alpha Capital Management Buys 268 Fastenal (NASDAQ:FAST) Shares

VaselineOctober 10, 2024

0 4 minutes read

B & T Capital Management DBA Alpha Capital Management boosted its stake in Fastenal (NASDAQ:FAST – Free Report) by 0.4% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 68,490 shares of the company’s stock after acquiring an additional 268 shares during the period. B & T Capital Management DBA Alpha Capital Management’s holdings in Fastenal were worth $4,892,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their positions in FAST. Central Valley Advisors LLC bought a new stake in shares of Fastenal in the second quarter valued at about $28,000. MCF Advisors LLC boosted its stake in Fastenal by 2,172.2% in the first quarter. MCF Advisors LLC now owns 409 shares of the company’s stock worth $32,000 after buying an additional 391 shares during the last quarter. Triad Wealth Partners LLC bought a new stake in shares of Fastenal during the second quarter valued at about $32,000. Crewe Advisors LLC boosted its stake in Fastenal by 528.4% in the second quarter. Crewe Advisors LLC now owns 509 shares of the company’s stock worth $32,000 after buying an additional 428 shares in the last quarter. Finally, OFI Invest Asset Management bought a new stake in shares of Fastenal in the second quarter valued at about $35,000. Institutional investors own 81.38% of the company’s shares.

Insider transactions at Fastenal

In related news, CEO Daniel L. Florness sold 50,000 shares of the business’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $69.68, for a total value of $3,484,000.00. Following the sale, the chief executive officer now directly owns 286,018 shares of the company’s stock, valued at $19,929,734.24. This trade represents a decrease of 0.00 % in the stock holding. The transaction was disclosed in a filing with the SEC, which is available via this link. In related news, CEO Daniel L. Florness sold 45,744 shares of the business’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $68.14, for a total value of $3,116,996.16. Following the sale, the chief executive officer now directly owns 286,018 shares of the company’s stock, valued at $19,489,266.52. This trade represents a decrease of 0.00 % in the stock holding. The transaction was disclosed in a filing with the SEC, which is available via this link. Also, CEO Daniel L. Florness sold 50,000 shares of the firm’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $69.68, for a total value of $3,484,000.00. Following the completion of the sale, the chief executive officer now directly owns 286,018 shares in the company, valued at $19,929,734.24. This trade represents a decrease of 0.00 % in the stock holding. The disclosure for this sale can be found here. 0.41% of shares are currently owned by insiders.

Changes in Analyst Ratings

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FAST has been the subject of a number of research analyst reports. Stephens restated an “equal weight” rating and issued a $56.00 target price on shares of Fastenal in a research note on Monday, July 15th. Bank of America initiated coverage on Fastenal in a research note on Monday. They issued a “buy” rating and a $85.00 target price on the stock. Jefferies Financial Group decreased their price target on Fastenal from $74.00 to $65.00 and set a “hold” rating on the stock in a research note on Thursday, July 11th. Morgan Stanley initiated coverage on Fastenal in a research note on Friday, September 6th. They issued an “equal weight” rating and a $72.00 target price on the stock. Finally, Stifel Nicolaus restated a “buy” rating and issued a $80.00 target price (down previously from $85.00) on shares of Fastenal in a research note on Monday, 15 July. Six analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $69.63.

Get the latest analysis on Fastenal

Fastenal stock performance

Shares of FAST traded up $0.10 during trading hours on Thursday, reaching $70.71. 1,318,581 shares of the stock exchanged hands, compared to its average volume of 3,326,321. The company has a current ratio of 4.39, a quick ratio of 2.29, and a debt-to-equity ratio of 0.04. The firm has a market cap of $40.48 billion, a P/E ratio of 35.13, a P/E/G ratio of 3.92 and a beta of 1.01. The company has a 50 day simple moving average of $68.53 and a two hundred day simple moving average of $68.00. Fastenal has a 12-month low of $55.42 and a 12-month high of $79.04.

Fastenal (NASDAQ:FAST – Get Your Free Report ) last released its earnings results on Friday, July 12th. The company reported $0.51 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.51. The company had revenue of $1.92 billion for the quarter, compared to analyst estimates of $1.91 billion. Fastenal had a return on equity of 33.54% and a net margin of 15.54%. Fastenal’s quarterly revenue was up 1.8% on a year-over-year basis. During the same period in the previous year, the firm posted EPS of $0.52. On average, analysts expect that Fastenal will post 2.04 earnings per share for the current fiscal year.

Fixing profile

(Free report)

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, screws, nuts, bolts, studs and related washers that are used in manufactured products and construction projects, as well as in machine maintenance and repair.