Live Stock Coverage: Could Fastenal Company Decline After Today’s Huge Increase?

Live Stock Coverage: Could Fastenal Company Decline After Today's Huge Increase?

The stock of Fastenal Company (NASDAQ:FAST) is a huge mover today! About 3.74M shares traded hands or 60.52% up from the average. Fastenal Company (NASDAQ:FAST) has declined 9.56% since March 8, 2016 and is downtrending. It has underperformed by 18.87% the S&P500.
The move comes after 7 months positive chart setup for the $11.62 billion company. It was reported on Oct, 11 by We have $67.84 PT which if reached, will make NASDAQ:FAST worth $7.90B more.

Fastenal Company (NASDAQ:FAST) Ratings Coverage

Out of 11 analysts covering Fastenal (NASDAQ:FAST), 1 rate it a “Buy”, 0 “Sell”, while 10 “Hold”. This means 9% are positive. Fastenal has been the topic of 24 analyst reports since July 21, 2015 according to StockzIntelligence Inc. Stifel Nicolaus maintained Fastenal Company (NASDAQ:FAST) on Wednesday, October 14 with “Buy” rating. The stock has “Neutral” rating given by Sterne Agee CRT on Tuesday, March 22. The firm has “Buy” rating given on Tuesday, March 8 by Argus Research. The stock has “Neutral” rating given by Robert W. Baird on Monday, August 24. As per Tuesday, September 15, the company rating was initiated by Credit Suisse. Stifel Nicolaus maintained Fastenal Company (NASDAQ:FAST) on Thursday, March 17 with “Buy” rating. As per Tuesday, July 21, the company rating was initiated by KeyBanc Capital Markets. On Friday, September 4 the stock rating was maintained by William Blair with “Hold”. Susquehanna maintained the stock with “Neutral” rating in Thursday, August 27 report. The firm has “Market Perform” rating given on Monday, March 21 by Avondale.

According to Zacks Investment Research, “Fastenal Company sells industrial and construction supplies grouped into eleven product lines. The traditional Fastenal® product line consists of threaded fasteners and other miscellaneous supplies. The Company also sells, in its other ten product lines, tools, metal cutting tool blades and blade resharpening services, fluid transfer components and accessories for hydraulic and pneumatic power, material handling and storage products, janitorial and paper products, electrical supplies, welding supplies, safety supplies, and raw materials.”

Insitutional Activity: The institutional sentiment increased to 1.29 in 2016 Q2. Its up 0.09, from 1.2 in 2016Q1. The ratio improved, as 49 funds sold all Fastenal Company shares owned while 166 reduced positions. 57 funds bought stakes while 220 increased positions. They now own 231.91 million shares or 8.00% less from 252.08 million shares in 2016Q1.
Brown Advisory Securities Limited Liability holds 0.07% of its portfolio in Fastenal Company (NASDAQ:FAST) for 4,839 shares. D E Shaw reported 290,984 shares or 0.02% of all its holdings. Jefferies Group Inc Ltd Limited Liability Company holds 0.01% of its portfolio in Fastenal Company (NASDAQ:FAST) for 46,403 shares. Blackrock Institutional Na holds 0.05% of its portfolio in Fastenal Company (NASDAQ:FAST) for 7.35M shares. Aviva Public Ltd Co accumulated 0.05% or 157,935 shares. Gateway Advisers Limited Liability holds 0.01% of its portfolio in Fastenal Company (NASDAQ:FAST) for 24,307 shares. North Star Inv Management has invested 0.04% of its portfolio in Fastenal Company (NASDAQ:FAST). The Florida-based Capital City Trust Com Fl has invested 0.38% in Fastenal Company (NASDAQ:FAST). Fil accumulated 0.01% or 48,436 shares. Dearborn Prtn Ltd holds 0.03% or 8,325 shares in its portfolio. The New York-based Bamco Ny has invested 0.59% in Fastenal Company (NASDAQ:FAST). Douglass Winthrop Advsrs Limited Liability Company has 508,350 shares for 1.47% of their US portfolio. Amp Invsts Ltd accumulated 0.02% or 75,467 shares. Leavell Inv Mgmt holds 15,750 shares or 0.1% of its portfolio. Paloma Prtn has 25,275 shares for 0.01% of their US portfolio.

Insider Transactions: Since September 9, 2016, the stock had 1 buying transaction, and 0 insider sales for $24,600 net activity. Shares for $24,600 were bought by Ancius Michael J on Friday, September 9.

More recent Fastenal Company (NASDAQ:FAST) news were published by: which released: “Fastenal Company Announces Cash Dividend” on October 10, 2016. Also published the news titled: “Investors’ Response Muted To Fastenal’s Mixed Q3 Results” on October 11, 2016.‘s news article titled: “Fastenal Company Announces Conference Call to Review 2016 Third Quarter Earnings” with publication date: September 26, 2016 was also an interesting one.

FAST Company Profile

Fastenal Company, incorporated on December 24, 1968, is engaged in wholesale distribution of industrial and construction supplies. The Firm distributes these supplies through a network of approximately 2,600 Company-owned stores. The Firm sells industrial and construction supplies to end users (business-to-business), and also has a walk-in retail business. The Firm operates approximately 10 distribution centers in North America. The Company’s clients are in the manufacturing and non-residential construction markets. The manufacturing market includes both original equipment manufacturers (OEM), and maintenance and repair activities (MRO). The non-residential construction market includes general, electrical, plumbing, sheet metal and road contractors. Other users of its products include farmers, truckers, railroads, mining companies, schools and certain retail trades.

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