Fastenal Company (FAST) Sets 52-Week High; Strong Momentum for Holders

Fastenal Company (NASDAQ:FAST) Logo

Investors sentiment decreased to 1.03 in Q4 2018. Its down 0.01, from 1.04 in 2018Q3. It worsened, as 51 investors sold Fastenal Company shares while 189 reduced holdings. 54 funds opened positions while 194 raised stakes. 238.60 million shares or 2.10% more from 233.70 million shares in 2018Q3 were reported.
Gam Holdings Ag holds 8,659 shares. Cantillon Mgmt Lc owns 3.24M shares. Ftb Advsrs accumulated 0% or 97 shares. California Employees Retirement has 0.04% invested in Fastenal Company (NASDAQ:FAST). Millennium Mngmt Limited Liability Company stated it has 840,773 shares. Ashmore Wealth Mngmt Limited Liability Company has invested 3.47% in Fastenal Company (NASDAQ:FAST). Canada Pension Plan Invest Board holds 0.02% of its portfolio in Fastenal Company (NASDAQ:FAST) for 134,508 shares. Whittier Trust Of Nevada reported 0.01% in Fastenal Company (NASDAQ:FAST). Green Square Capital Ltd Liability Co has 131,767 shares. Swiss Bank & Trust has 0.06% invested in Fastenal Company (NASDAQ:FAST) for 932,377 shares. Pacific Investment holds 0.11% or 8,249 shares in its portfolio. California State Teachers Retirement holds 0.06% or 479,898 shares. Parkside Finance Bank & Trust And Tru stated it has 0.05% in Fastenal Company (NASDAQ:FAST). Of Virginia Va reported 106,810 shares stake. State Of Wisconsin Inv Board has invested 0.04% in Fastenal Company (NASDAQ:FAST).

Since October 22, 2018, it had 2 insider purchases, and 5 sales for $3.77 million activity. $49,754 worth of Fastenal Company (NASDAQ:FAST) was bought by Johnson Daniel L.. $41,948 worth of Fastenal Company (NASDAQ:FAST) was bought by Drazkowski William Joseph. $150,000 worth of stock was sold by DOLAN MICHAEL JOHN on Tuesday, January 29. 5,000 shares were sold by LUNDQUIST NICHOLAS J, worth $302,550 on Thursday, January 31. Lisowski Sheryl Ann also sold $624,999 worth of Fastenal Company (NASDAQ:FAST) on Thursday, February 14.

The stock of Fastenal Company (NASDAQ:FAST) hit a new 52-week high and has $72.86 target or 4.00 % above today’s $70.06 share price. The 6 months bullish chart indicates low risk for the $20.06B company. The 1-year high was reported on Apr, 17 by Barchart.com. If the $72.86 price target is reached, the company will be worth $802.24M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock.

The stock increased 0.78% or $0.54 during the last trading session, reaching $70.06. About 1.05M shares traded. Fastenal Company (NASDAQ:FAST) has risen 16.47% since April 17, 2018 and is uptrending. It has outperformed by 12.10% the S&P500.

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Fastenal Company (NASDAQ:FAST) Ratings Coverage

Among 5 analysts covering Fastenal (NASDAQ:FAST), 2 have Buy rating, 0 Sell and 3 Hold. Therefore 40% are positive. Fastenal had 8 analyst reports since October 22, 2018 according to SRatingsIntel. Raymond James maintained Fastenal Company (NASDAQ:FAST) on Friday, April 12 with “Strong Buy” rating. Buckingham Research maintained Fastenal Company (NASDAQ:FAST) rating on Monday, April 8. Buckingham Research has “Neutral” rating and $60 target. The firm has “Equal-Weight” rating given on Tuesday, April 16 by Morgan Stanley. As per Tuesday, February 12, the company rating was downgraded by KeyBanc Capital Markets. Longbow upgraded Fastenal Company (NASDAQ:FAST) on Tuesday, December 4 to “Buy” rating.

More notable recent Fastenal Company (NASDAQ:FAST) news were published by: Nasdaq.com which released: “Fastenal (FAST) is a Great Momentum Stock: Should You Buy? – Nasdaq” on April 04, 2019, also Nasdaq.com with their article: “How excess speed, hasty commands and flawed software doomed an Ethiopian Airlines 737 MAX – Nasdaq” published on April 05, 2019, Benzinga.com published: “Earnings Scheduled For April 11, 2019 – Benzinga” on April 11, 2019. More interesting news about Fastenal Company (NASDAQ:FAST) were released by: Nasdaq.com and their article: “4 Questions We Still Have About Google’s New Gaming Platform – Nasdaq” published on April 10, 2019 as well as Nasdaq.com‘s news article titled: “How flawed software, high speed, other factors doomed an Ethiopian Airlines 737 MAX – Nasdaq” with publication date: April 08, 2019.

Fastenal Company, together with its subsidiaries, engages in the wholesale distribution of industrial and construction supplies in the United States, Canada, and internationally. The company has market cap of $20.06 billion. It offers fasteners, and other industrial and construction supplies primarily under the Fastenal name. It has a 26.04 P/E ratio. The companyÂ’s fastener products include threaded fasteners, such as bolts, nuts, screws, studs, and related washers, which are used in manufactured products and building projects, as well as in the maintenance and repair of machines and structures.

Fastenal Company (NASDAQ:FAST) Institutional Positions Chart