Fastenal Co (FAST, +1, December 2nd)

Jeffery Watts (EVP– International Sales since 2015, joined 2004) purchased 5,940 shares on November 29th at $50.58, spending $300,000 in his first reported open market purchase. This is a reversal from option sales he made in 2021 around this price level.

We ranked this stock +N on September 16th based primarily on purchases from Daniel Florness (CEO since 2016, joined 1996), although directors Sarah Nielsen and Michael Ancius were also part of that pattern. In October, Nielsen and Stephen Eastman (Director) made modest purchases at $44. With Watt’s large and unusual purchase,

We are upgrading the shares further, from +N to +1.

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