Fastenal (NASDAQ:FAST) Shares Bought by Vestmark Advisory Solutions Inc.

Vestmark Advisory Solutions Inc. boosted its stake in shares of Fastenal (NASDAQ:FAST) by 1.5% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 40,681 shares of the company’s stock after purchasing an additional 603 shares during the period. Vestmark Advisory Solutions Inc.’s holdings in Fastenal were worth $2,635,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Hartford Financial Management Inc. raised its position in Fastenal by 46.9% during the fourth quarter. Hartford Financial Management Inc. now owns 479 shares of the company’s stock valued at $31,000 after acquiring an additional 153 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of Fastenal during the 4th quarter valued at approximately $35,000. Criterion Capital Advisors LLC acquired a new position in shares of Fastenal in the 4th quarter valued at $43,000. First Horizon Advisors Inc. lifted its stake in shares of Fastenal by 283.2% in the 4th quarter. First Horizon Advisors Inc. now owns 755 shares of the company’s stock valued at $49,000 after purchasing an additional 558 shares during the period. Finally, Livforsakringsbolaget Skandia Omsesidigt boosted its holdings in Fastenal by 77.7% during the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,084 shares of the company’s stock worth $70,000 after buying an additional 474 shares in the last quarter. Hedge funds and other institutional investors own 81.38% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on FAST shares. Robert W. Baird decreased their price objective on shares of Fastenal from $77.00 to $71.00 and set a “neutral” rating for the company in a research report on Friday, April 12th. HSBC upped their price target on Fastenal from $59.00 to $64.00 and gave the stock a “hold” rating in a report on Monday, April 15th. Loop Capital dropped their price objective on Fastenal from $71.00 to $66.00 and set a “hold” rating on the stock in a report on Monday, April 15th. Finally, Stifel Nicolaus upped their target price on Fastenal from $75.00 to $85.00 and gave the stock a “buy” rating in a research note on Monday, March 18th. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, Fastenal has a consensus rating of “Hold” and an average target price of $67.67.

Insiders Place Their Bets

In other Fastenal news, Director Daniel L. Johnson acquired 3,350 shares of the firm’s stock in a transaction that occurred on Wednesday, April 17th. The shares were purchased at an average cost of $68.38 per share, for a total transaction of $229,073.00. Following the completion of the acquisition, the director now owns 10,595 shares of the company’s stock, valued at approximately $724,486.10. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Fastenal news, VP Charles S. Miller sold 11,076 shares of Fastenal stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $75.16, for a total value of $832,472.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Daniel L. Johnson acquired 3,350 shares of the company’s stock in a transaction that occurred on Wednesday, April 17th. The stock was acquired at an average price of $68.38 per share, with a total value of $229,073.00. Following the acquisition, the director now directly owns 10,595 shares of the company’s stock, valued at approximately $724,486.10. The disclosure for this purchase can be found here. Insiders have sold 36,082 shares of company stock valued at $2,584,060 over the last ninety days. Company insiders own 0.41% of the company’s stock.

Fastenal Price Performance

Shares of NASDAQ FAST traded up $0.34 during midday trading on Friday, hitting $68.43. The stock had a trading volume of 2,592,954 shares, compared to its average volume of 4,096,502. The company has a quick ratio of 2.49, a current ratio of 4.83 and a debt-to-equity ratio of 0.06. The stock has a 50 day simple moving average of $73.13 and a 200-day simple moving average of $67.07. The company has a market capitalization of $39.18 billion, a PE ratio of 33.88, a P/E/G ratio of 3.58 and a beta of 1.07. Fastenal has a 1 year low of $52.85 and a 1 year high of $79.04.

Fastenal (NASDAQ:FAST) last announced its quarterly earnings data on Thursday, April 11th. The company reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.01). The company had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.91 billion. Fastenal had a return on equity of 33.98% and a net margin of 15.68%. The business’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.52 EPS. On average, sell-side analysts expect that Fastenal will post 2.12 EPS for the current fiscal year.

Fastenal Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 23rd. Investors of record on Thursday, April 25th will be issued a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.28%. The ex-dividend date is Wednesday, April 24th. Fastenal’s dividend payout ratio is currently 77.23%.

About Fastenal

Fastenal Company, together with its subsidiaries, engages in the wholesale distribution of industrial and construction supplies in the United States, Canada, Mexico, North America, and internationally. It offers fasteners, and related industrial and construction supplies under the Fastenal name. The company's fastener products include threaded fasteners, bolts, nuts, screws, studs, and related washers that are used in manufactured products and construction projects, as well as in the maintenance and repair of machines.