Fastenal (NASDAQ:FAST) Shares Acquired by Kestra Advisory Services LLC

Kestra Advisory Services LLC grew its position in Fastenal (NASDAQ:FAST – Get Rating) by 50.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 23,542 shares of the company’s stock after acquiring an additional 7,872 shares during the quarter. Kestra Advisory Services LLC’s holdings in Fastenal were worth $1,084,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of FAST. Bank of Montreal Can boosted its holdings in shares of Fastenal by 118.0% in the second quarter. Bank of Montreal Can now owns 2,427,871 shares of the company’s stock valued at $124,817,000 after acquiring an additional 1,314,106 shares during the period. Echo Street Capital Management LLC acquired a new stake in shares of Fastenal during the second quarter worth $57,056,000. Zurich Insurance Group Ltd FI acquired a new stake in shares of Fastenal during the second quarter worth $53,751,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of Fastenal by 8.0% during the first quarter. Charles Schwab Investment Management Inc. now owns 9,227,656 shares of the company’s stock worth $548,123,000 after purchasing an additional 681,328 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in shares of Fastenal by 31.0% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,619,335 shares of the company’s stock worth $130,757,000 after purchasing an additional 620,398 shares during the period. 76.99% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently weighed in on FAST. Loop Capital decreased their price target on Fastenal from $54.00 to $53.00 and set a “hold” rating for the company in a report on Monday. Jefferies Financial Group reaffirmed a “hold” rating and set a $50.00 price target on shares of Fastenal in a report on Monday, October 17th. StockNews.com downgraded Fastenal from a “buy” rating to a “hold” rating in a report on Saturday, October 15th. Finally, Morgan Stanley reduced their target price on Fastenal from $43.00 to $42.00 and set an “underweight” rating for the company in a report on Friday, January 6th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $51.14.

Insider Activity

In related news, insider Jeffery Michael Watts acquired 5,940 shares of the company’s stock in a transaction that occurred on Tuesday, November 29th. The stock was purchased at an average price of $50.58 per share, for a total transaction of $300,445.20. Following the transaction, the insider now owns 5,940 shares in the company, valued at approximately $300,445.20. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.40% of the company’s stock.

Fastenal Trading Up 1.2 %

Shares of FAST stock opened at $49.58 on Wednesday. Fastenal has a fifty-two week low of $43.73 and a fifty-two week high of $60.74. The stock has a market cap of $28.40 billion, a P/E ratio of 26.09, a P/E/G ratio of 2.83 and a beta of 1.17. The business has a fifty day simple moving average of $49.36 and a 200-day simple moving average of $49.48. The company has a quick ratio of 1.79, a current ratio of 3.96 and a debt-to-equity ratio of 0.11.

Fastenal (NASDAQ:FAST – Get Rating) last announced its quarterly earnings results on Thursday, January 19th. The company reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.01. Fastenal had a return on equity of 34.38% and a net margin of 15.57%. The business had revenue of $1.70 billion during the quarter, compared to analysts’ expectations of $1.67 billion. During the same quarter last year, the business posted $0.40 earnings per share. The business’s revenue for the quarter was up 10.7% on a year-over-year basis. On average, analysts forecast that Fastenal will post 1.92 earnings per share for the current fiscal year.

Fastenal Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 2nd. Stockholders of record on Thursday, February 2nd will be given a $0.35 dividend. The ex-dividend date of this dividend is Wednesday, February 1st. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.82%. This is a boost from Fastenal’s previous quarterly dividend of $0.31. Fastenal’s dividend payout ratio (DPR) is currently 65.26%.

Fastenal Company Profile

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Fastenal Co engages in the provision of fasteners, tools, and supplies which can help manufacture products, build structures, protect personnel, and maintain facilities and equipment. Its products include cutting tools and metalworking, fasteners, material handling, storage and packaging power, transmission and motors, tools and equipment, electricals, abrasives, hydraulics and pneumatics, plumbing, lifting and rigging, raw materials, fleet and automotive, welding, office products and furniture, and janitorial supplies.