Fastenal Company (FAST) : The total negative money flow of $10.05 million on Wednesday indicates selling on strength. The inflow of money on upticks was $18.24 million, compared to $28.29 million outflow on downticks, which confirms distribution in the stock. The up to down ratio was 0.64. The negative money flow of $8.38 million in block trades reveals that the informed traders sold the stock on every bit of price strength. The traded value of the stock on uptick was $7.28 million in a block trade.The transaction value of block trade on downtick was $15.67 million. The uptick to downtick ratio was 0.46. The price action in the Fastenal Company (FAST) stock suggests that both the bulls and the bears were in equilibrium. The stock traded at $42.59 with a gain of $0.15 , a change of 0.35% over the previous days close. The stock registered -1.98% for the week.
Also, Morgan Stanley initiates coverage on Fastenal Company (NASDAQ:FAST).The analysts at the brokerage house have a current rating of Equal-weight on the shares. In a recent information released to the investors, Morgan Stanley announces the price target of $46 per share. The rating by the firm was issued on July 7, 2016.
Fastenal Company (NASDAQ:FAST): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $42.30 and $41.96 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $42.88. The buying momentum continued till the end and the stock did not give up its gains. It closed at $42.55, notching a gain of 0.26% for the day. The total traded volume was 3,019,645 . The stock had closed at $42.44 on the previous day.
The stock has recorded a 20-day Moving Average of 3.42% and the 50-Day Moving Average is 5.2%. In a related news, The Securities and Exchange Commission has divulged that Lisowski Sheryl Ann, officer (Interim CFO/CAO/Controller) of Fastenal Co, had unloaded 5,000 shares at an average price of $46.69 in a transaction dated on March 2, 2016. The total value of the transaction was worth $233,450.
Fastenal Company sells industrial and construction supplies to end-users (business-to-business), and also has some walk-in retail business. The Companys product offerings include fasteners and other industrial and construction supplies, many of which are sold under the Fastenal product name. The Companys product line, which it refers to as the fastener product line, consists of two categories: threaded fasteners, such as bolts, nuts, screws, studs and related washers, and miscellaneous supplies and hardware, such as various pins and machinery keys, concrete anchors, metal framing systems, wire rope, strut, rivets and related accessories. The Companys product line includes fasteners, cutting tools, tools, hydraulics and pneumatics, material handling, janitorial supplies, electrical supplies, welding supplies, safety supplies, metals, direct ship and office supplies. It operates approximately 14 distribution centers in North America.