After this morning's -2.1% drop to $54.11 per share, Fastenal Company might just keep moving past its target price of $54.37. With an average analyst rating of hold, and target prices from $46.0 to $61.0, the stock's next move is anyone's guess.
The stock has an average amount of shares sold short at 2.8%, and a short ratio of 4.93. The company's insiders own 0.17% of its outstanding shares, which indicates a strong alignment between management and shareholder interests. Finally, we also note that a significant number of institutional investors are invested in the stock, with 81.7% of Fastenal Company's shares being owned by this investor type.
Institutions Invested in Fastenal Company
| Date Reported | Holder | Percentage | Shares | Value |
|---|---|---|---|---|
| 2023-03-31 | Vanguard Group, Inc. (The) | 12% | 69,640,030 | $3,768,222,065 |
| 2023-03-31 | Blackrock Inc. | 8% | 45,154,559 | $2,443,313,215 |
| 2023-03-31 | State Street Corporation | 5% | 28,201,061 | $1,525,959,427 |
| 2023-03-31 | Bank Of New York Mellon Corporation | 5% | 25,750,289 | $1,393,348,153 |
| 2023-03-31 | Geode Capital Management, LLC | 2% | 13,676,410 | $740,030,553 |
| 2023-03-31 | Charles Schwab Investment Management, Inc. | 2% | 11,332,816 | $613,218,680 |
| 2023-03-31 | Baird Financial Group, Inc. | 2% | 8,613,701 | $466,087,366 |
| 2023-03-31 | Morgan Stanley | 1% | 8,221,356 | $444,857,578 |
| 2023-03-31 | Principal Financial Group, Inc. | 1% | 8,060,416 | $436,149,114 |
| 2023-03-31 | Bank of America Corporation | 1% | 7,861,003 | $425,358,877 |
Besides an analyst consensus of some upside potential, other market factors point to there being mixed market sentiment on Fastenal Company.
