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Fastenal Company Message Board

  • jforuus jforuus Dec 29, 2011 1:39 AM Flag

    Forbes is turning into a joke

    http://www.forbes.com/sites/dividendchannel/2011/12/28/wednesday-1228-insider-buying-report-fast-bcei/

    "On Friday, Fastenal Co. (FAST)’s Executive Vice-President, Nicholas J. Lundquist, made a $433,050 purchase of FAST, buying 10,000 shares at a cost of $43.30 a piece. So far Lundquist is in the green, up about 2.3% on their buy based on today’s trading high of $44.28. Fastenal Co. is trading up about 0.1% on the day Wednesday. Before this latest buy, Lundquist made one other purchase in the past twelve months, buying $110,670 shares at a cost of $32.55 a piece. In the past twelve months, 4 other insiders purchased FAST, in 7 transactions, for a total investment of $347,911 at an average of $48.12 per share."

    They don't tell you the part where they sold 700,000 shares the month before but actually only bought back 10,000 shares.

    Somebody call them and ask them if they actually read and check the facts regarding the articles they put on the web?

    Name, Title Transaction
    Transactions
    During 2011 # of Shares Price($) Type % of Holdings Traded Now Holds
    Lundquist, Nicholas J., PR Bought 12/23 5,000 43.35 Direct, Buy 4.1 121,000
    Lundquist, Nicholas J., PR Bought 12/23 5,000 43.26 Indirect, Buy 25.0 20,000
    Slaggie, Stephen M., DIR Sold 12/06 50,000 42.54 Direct, Sell 0.5 9,937,968
    Kierlin, Robert A., DIR Sold 12/05 100,000 42.50 Direct, Sell 0.7 13,750,000
    Gostomski, Michael M., DIR Sold 11/23 317,152 -- Indirect, Non Open Market 25.6 920,656
    Slaggie, Stephen M., DIR Sold 11/11 50,000 41.12 Direct, Sell 0.5 9,987,968
    Kierlin, Robert A., DIR Sold 11/03 100,000 39.11 Direct, Sell 0.7 13,850,000
    Slaggie, Stephen M., DIR Sold 10/31 50,000 38.93 Direct, Sell 0.5 10,037,968
    Kierlin, Robert A., DIR Sold 10/18 100,000 33.54 Direct, Sell 0.7 13,950,000
    Kierlin, Robert A., DIR Sold 09/07 70,000 32.57 Direct, Sell 0.5 14,050,000

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    • Good morning,
      I read this post and was puzzled about how the author's feelings were negative regarding a couple of Fastenal insiders selling stock. I am a resident of Winona, MN, where Fastenal is based from, and want to take this opportunity to explain briefly that these transactions are positive. Basically it comes down to both Mr. Kierlin and Mr. Slaggie are very heavily involved in the community and they give back a lot to the community where they founded their company. One specific example is the private education foundation set up by them that for decades has been giving out hundreds of scholarships to college-bound students. Their donations to local schools has been mind boggling over the years. Bottom line is s little research will easily show that the stock they are selling is being funneled into their philanthropy. These men should be applauded for their actions, not looked upon negatively. Did you know that Mr. Kierlin to this day buys his suits second hand? And that is only when it is time to finally retire one that is probably 20+ years old. Anyway, I hope this sheds some light on this topic.

 
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