Livingston Group Asset Management CO operating as Southport Capital Management Purchases 1,489 Shares of Fastenal (NASDAQ:FAST)

Livingston Group Asset Management CO operating as Southport Capital Management raised its position in shares of Fastenal (NASDAQ:FAST) by 3.7% in the fourth quarter, HoldingsChannel reports. The firm owned 41,335 shares of the company’s stock after acquiring an additional 1,489 shares during the period. Livingston Group Asset Management CO operating as Southport Capital Management’s holdings in Fastenal were worth $1,527,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of FAST. Vanguard Group Inc. raised its position in Fastenal by 103.6% during the 2nd quarter. Vanguard Group Inc. now owns 67,317,971 shares of the company’s stock valued at $2,193,894,000 after purchasing an additional 34,249,134 shares in the last quarter. BlackRock Inc. raised its position in Fastenal by 114.3% during the 2nd quarter. BlackRock Inc. now owns 43,456,381 shares of the company’s stock valued at $1,416,246,000 after purchasing an additional 23,182,045 shares in the last quarter. Invesco Ltd. raised its position in Fastenal by 241.9% during the 2nd quarter. Invesco Ltd. now owns 13,737,816 shares of the company’s stock valued at $447,715,000 after purchasing an additional 9,719,267 shares in the last quarter. Bares Capital Management Inc. raised its position in Fastenal by 94.5% during the 2nd quarter. Bares Capital Management Inc. now owns 8,677,098 shares of the company’s stock valued at $282,787,000 after purchasing an additional 4,214,984 shares in the last quarter. Finally, Nuveen Asset Management LLC raised its position in Fastenal by 42,634.1% during the 2nd quarter. Nuveen Asset Management LLC now owns 2,986,684 shares of the company’s stock valued at $97,336,000 after purchasing an additional 2,979,695 shares in the last quarter. 84.45% of the stock is owned by institutional investors and hedge funds.

Several research firms have recently commented on FAST. Morgan Stanley boosted their price target on Fastenal from $31.00 to $34.00 and gave the stock an “equal weight” rating in a research report on Wednesday, December 11th. Edward Jones lowered shares of Fastenal from a “buy” rating to a “hold” rating in a research report on Wednesday, October 30th. Raymond James cut shares of Fastenal from a “strong-buy” rating to a “market perform” rating in a report on Monday, October 14th. Stephens downgraded shares of Fastenal from an “overweight” rating to an “equal” rating and lifted their price objective for the stock from $36.00 to $37.00 in a research report on Monday, October 14th. Finally, ValuEngine lowered shares of Fastenal from a “sell” rating to a “strong sell” rating in a research note on Wednesday, October 2nd. Four analysts have rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the company’s stock. Fastenal has a consensus rating of “Hold” and a consensus target price of $73.78.

In related news, Director Willard D. Oberton sold 100,000 shares of the stock in a transaction that occurred 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 sale, the director now owns 114,194 shares of the company’s stock, valued at $4,225,178. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Charles S. Miller sold 4,376 shares of the stock in a transaction that occurred 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 sale, the executive vice president now directly owns 11,876 shares of the company’s stock, valued at approximately $427,298.48. The disclosure for this sale can be found here. Insiders have sold 141,620 shares of company stock valued at $5,230,409 in the last three months. 0.56% of the stock is currently owned by corporate insiders.

NASDAQ:FAST traded up $0.11 during midday trading on Thursday, reaching $36.90. 116,096 shares of the stock traded hands, compared to its average volume of 2,870,862. Fastenal has a 12-month low of $27.01 and a 12-month high of $37.94. The business has a 50-day moving average of $36.45 and a two-hundred day moving average of $33.68. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.06 and a current ratio of 4.51. The stock has a market capitalization of $21.12 billion, a PE ratio of 27.94, a price-to-earnings-growth ratio of 1.80 and a beta of 1.25.

Fastenal Company 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.

Further Reading: Understanding debt-to-equity ratio in fundamental analysis

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Institutional Ownership by Quarter for Fastenal (NASDAQ:FAST)

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