Fastenal (NASDAQ:FAST) Shares Purchased by Connecticut Wealth Management LLC

Connecticut Wealth Management LLC boosted its stake in shares of Fastenal (NASDAQ:FAST) by 46.5% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 16,348 shares of the company’s stock after acquiring an additional 5,186 shares during the period. Connecticut Wealth Management LLC’s holdings in Fastenal were worth $1,059,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. National Bank of Canada FI boosted its stake in shares of Fastenal by 82.2% in the fourth quarter. National Bank of Canada FI now owns 478,275 shares of the company’s stock worth $30,394,000 after acquiring an additional 215,731 shares during the last quarter. Vestmark Advisory Solutions Inc. grew its holdings in shares of Fastenal by 1.5% during the fourth quarter. Vestmark Advisory Solutions Inc. now owns 40,681 shares of the company’s stock worth $2,635,000 after buying an additional 603 shares in the last quarter. Merit Financial Group LLC grew its holdings in shares of Fastenal by 14.2% during the fourth quarter. Merit Financial Group LLC now owns 86,059 shares of the company’s stock worth $5,574,000 after buying an additional 10,731 shares in the last quarter. Loudon Investment Management LLC raised its position in shares of Fastenal by 1.4% in the fourth quarter. Loudon Investment Management LLC now owns 85,284 shares of the company’s stock valued at $5,524,000 after buying an additional 1,208 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. lifted its stake in shares of Fastenal by 735.6% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 502,563 shares of the company’s stock worth $32,551,000 after buying an additional 442,418 shares in the last quarter. Institutional investors and hedge funds own 81.38% of the company’s stock.

Insider Buying and Selling

In related news, EVP Anthony Paul Broersma sold 5,586 shares of the firm’s stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $69.34, for a total transaction of $387,333.24. The transaction was disclosed in a filing with the SEC, which is available at this link. In other Fastenal news, Director Daniel L. Johnson bought 3,350 shares of the firm’s stock in a transaction dated Wednesday, April 17th. The stock was acquired at an average price of $68.38 per share, for a total transaction of $229,073.00. Following the completion of the purchase, the director now owns 10,595 shares of the company’s stock, valued at $724,486.10. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, EVP Anthony Paul Broersma sold 5,586 shares of the firm’s stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $69.34, for a total value of $387,333.24. The disclosure for this sale can be found here. Insiders have sold 36,082 shares of company stock worth $2,584,060 in the last ninety days. 0.41% of the stock is owned by corporate insiders.

Analyst Ratings Changes

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

Fastenal Stock Up 0.5 %

Shares of FAST traded up $0.34 during midday trading on Friday, hitting $68.43. The company had a trading volume of 2,592,954 shares, compared to its average volume of 4,096,502. Fastenal has a 1 year low of $52.85 and a 1 year high of $79.04. The firm has a market capitalization of $39.18 billion, a P/E ratio of 33.88, a P/E/G ratio of 3.58 and a beta of 1.07. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.49 and a current ratio of 4.83. The company’s 50-day simple moving average is $73.13 and its 200-day simple moving average is $67.18.

Fastenal (NASDAQ:FAST) last released its quarterly earnings data on Thursday, April 11th. The company reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.01). Fastenal had a return on equity of 33.98% and a net margin of 15.68%. The firm had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.91 billion. During the same period last year, the firm posted $0.52 earnings per share. Fastenal’s revenue for the quarter was up 1.9% on a year-over-year basis. As a group, sell-side analysts expect that Fastenal will post 2.12 EPS for the current year.

Fastenal Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 23rd. Investors of record on Thursday, April 25th will be given 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 (DPR) is 77.23%.

Fastenal Profile

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.