After this afternoon's 3.7% surge to $77.22 per share, Fastenal might just keep moving past its target price of $75.63. With an average analyst rating of hold, and target prices from $54.0 to $85.0, the stock's next move is anyone's guess.
The stock has an average amount of shares sold short at 2.7%, and a short ratio of 4.21. The company's insiders own 0.41% 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 86.3% of Fastenal's shares being owned by this investor type.
Institutions Invested in Fastenal
| Date Reported | Holder | Percentage | Shares | Value |
|---|---|---|---|---|
| 2024-12-31 | Vanguard Group Inc | 13% | 72,300,792 | $5,583,428,551 |
| 2024-12-31 | Blackrock Inc. | 8% | 48,140,384 | $3,717,641,080 |
| 2024-12-31 | State Street Corporation | 5% | 28,020,080 | $2,163,850,635 |
| 2024-12-31 | Charles Schwab Investment Management, Inc. | 4% | 20,765,044 | $1,603,580,491 |
| 2024-12-31 | Bank Of New York Mellon Corporation | 3% | 19,535,881 | $1,508,658,380 |
| 2024-12-31 | Geode Capital Management, LLC | 3% | 16,918,464 | $1,306,528,356 |
| 2024-12-31 | Morgan Stanley | 2% | 10,546,595 | $814,460,782 |
| 2024-12-31 | Baird Financial Group, Inc. | 1% | 8,275,793 | $639,098,101 |
| 2024-12-31 | Bank of America Corporation | 1% | 7,431,846 | $573,924,296 |
| 2024-12-31 | Northern Trust Corporation | 1% | 7,322,739 | $565,498,508 |
Besides an analyst consensus of little upside potential, other market factors point to there being mixed market sentiment on Fastenal.
