What’s Ahead for Fastenal Company (NASDAQ:FAST) After More Shorted Shares?

January 19, 2018 - By Darrin Black

 What’s Ahead for Fastenal Company (NASDAQ:FAST) After More Shorted Shares?

Investors sentiment increased to 1.3 in 2017 Q3. Its up 0.01, from 1.29 in 2017Q2. It is positive, as 50 investors sold Fastenal Company shares while 161 reduced holdings. 62 funds opened positions while 213 raised stakes. 234.48 million shares or 1.45% more from 231.14 million shares in 2017Q2 were reported.
Asset Management invested 0.22% in Fastenal Company (NASDAQ:FAST). First Republic Invest Management has invested 0.01% in Fastenal Company (NASDAQ:FAST). Essex Ltd Company owns 7,500 shares or 0.05% of their US portfolio. Profund Ltd Liability accumulated 0.04% or 22,754 shares. Old Mutual Customised Solutions (Proprietary) Limited invested 0.06% in Fastenal Company (NASDAQ:FAST). Rfg Advisory Grp Lc stated it has 0.24% in Fastenal Company (NASDAQ:FAST). Liberty Incorporated reported 38,550 shares or 1.02% of all its holdings. Dekabank Deutsche Girozentrale stated it has 26,331 shares or 0.01% of all its holdings. Louisiana State Employees Retirement Systems holds 0.04% or 18,000 shares. Bb&T Corp reported 0.02% stake. Alps Inc stated it has 10,805 shares. Norinchukin Natl Bank The invested in 0.02% or 22,425 shares. Eads & Heald Inv Counsel holds 0.53% of its portfolio in Fastenal Company (NASDAQ:FAST) for 18,584 shares. Yorktown Management And Research Co Inc has 25,000 shares for 0.3% of their portfolio. Franklin Resource has invested 0% in Fastenal Company (NASDAQ:FAST).

Since August 15, 2017, it had 0 insider purchases, and 3 sales for $956,223 activity. The insider Polipnick Gary A. sold 2,634 shares worth $140,793. On Monday, October 16 the insider Hein LeLand J sold $471,350.

The stock of Fastenal Company (NASDAQ:FAST) registered an increase of 5.37% in short interest. FAST’s total short interest was 27.74 million shares in January as published by FINRA. Its up 5.37% from 26.33 million shares, reported previously. With 1.97 million shares average volume, it will take short sellers 14 days to cover their FAST’s short positions.

The stock increased 2.09% or $1.09 during the last trading session, reaching $53.29. About 5.82 million shares traded or 160.64% up from the average. Fastenal Company (NASDAQ:FAST) has declined 2.09% since January 19, 2017 and is downtrending. It has underperformed by 18.79% the S&P500.

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 $15.32 billion. It offers fasteners, and other industrial and construction supplies primarily under the Fastenal name. It has a 26.54 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) Ratings Coverage

Among 17 analysts covering Fastenal (NASDAQ:FAST), 9 have Buy rating, 0 Sell and 8 Hold. Therefore 53% are positive. Fastenal had 62 analyst reports since July 21, 2015 according to SRatingsIntel. The stock has “Hold” rating by Argus Research on Friday, October 14. The stock of Fastenal Company (NASDAQ:FAST) has “Hold” rating given on Friday, January 12 by Susquehanna. KeyBanc Capital Markets initiated the stock with “Sector Weight” rating in Tuesday, July 21 report. Morgan Stanley maintained Fastenal Company (NASDAQ:FAST) on Monday, October 2 with “Equal-Weight” rating. The company was maintained on Tuesday, January 9 by Credit Suisse. Stifel Nicolaus maintained Fastenal Company (NASDAQ:FAST) on Monday, January 8 with “Hold” rating. Barclays Capital maintained Fastenal Company (NASDAQ:FAST) rating on Monday, October 5. Barclays Capital has “Underweight” rating and $27 target. The rating was maintained by Stephens on Wednesday, January 17 with “Buy”. The firm has “Outperform” rating by Credit Suisse given on Wednesday, April 19. On Thursday, January 19 the stock rating was maintained by Stifel Nicolaus with “Hold”.

More notable recent Fastenal Company (NASDAQ:FAST) news were published by: Finance.Yahoo.com which released: “Fastenal’s (FAST) Q4 Earnings Meet Estimates, Margins Down” on January 17, 2018, also Seekingalpha.com with their article: “Fastenal: A Risky Hold During Earnings” published on January 10, 2018, Seekingalpha.com published: “Fastenal’s (FAST) CEO Dan Florness on Q4 2017 Results – Earnings Call Transcript” on January 17, 2018. More interesting news about Fastenal Company (NASDAQ:FAST) were released by: Finance.Yahoo.com and their article: “Will Vending Machines Boost Fastenal’s (FAST) Q4 Earnings?” published on January 15, 2018 as well as Nasdaq.com‘s news article titled: “Fastenal Co. Q4 Profit Rises 33%” with publication date: January 17, 2018.

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