AdvisorNet Financial Inc Has $146,000 Stock Position in Fastenal (NASDAQ:FAST)

AdvisorNet Financial Inc grew its position in Fastenal (NASDAQ:FASTFree Report) by 38.9% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 2,260 shares of the company’s stock after buying an additional 633 shares during the period. AdvisorNet Financial Inc’s holdings in Fastenal were worth $146,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Sunbelt Securities Inc. grew its stake in shares of Fastenal by 131.7% during the second quarter. Sunbelt Securities Inc. now owns 600 shares of the company’s stock worth $35,000 after purchasing an additional 341 shares during the period. Quarry LP grew its stake in shares of Fastenal by 184.9% during the first quarter. Quarry LP now owns 678 shares of the company’s stock worth $37,000 after purchasing an additional 440 shares during the period. Resurgent Financial Advisors LLC acquired a new stake in shares of Fastenal during the fourth quarter worth $33,000. Cornerstone Planning Group LLC acquired a new stake in shares of Fastenal during the second quarter worth $49,000. Finally, FinTrust Capital Advisors LLC grew its stake in shares of Fastenal by 158.8% during the fourth quarter. FinTrust Capital Advisors LLC now owns 1,100 shares of the company’s stock worth $52,000 after purchasing an additional 675 shares during the period. 81.38% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Anthony Paul Broersma sold 5,586 shares of the business’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 sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, EVP Anthony Paul Broersma sold 5,586 shares of the business’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 sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Charles S. Miller sold 11,076 shares of the company’s 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 disclosure for this sale can be found here. Insiders have sold a total of 105,682 shares of company stock worth $7,375,853 over the last three months. Corporate insiders own 0.41% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Robert W. Baird lifted their price objective on Fastenal from $74.00 to $77.00 and gave the stock a “neutral” rating in a research note on Thursday, March 7th. Stifel Nicolaus boosted their target price on Fastenal from $75.00 to $85.00 and gave the company a “buy” rating in a research note on Monday, March 18th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Fastenal presently has a consensus rating of “Hold” and an average price target of $64.50.

Get Our Latest Report on Fastenal

Fastenal Stock Up 0.1 %

NASDAQ:FAST opened at $76.35 on Thursday. Fastenal has a 1 year low of $50.30 and a 1 year high of $79.04. The company has a current ratio of 4.57, a quick ratio of 2.27 and a debt-to-equity ratio of 0.06. The stock has a market cap of $43.69 billion, a price-to-earnings ratio of 37.80, a PEG ratio of 3.96 and a beta of 1.05. The stock has a 50-day moving average price of $72.89 and a two-hundred day moving average price of $64.87.

Fastenal (NASDAQ:FASTGet Free Report) last issued its quarterly earnings results on Thursday, January 18th. The company reported $0.46 EPS for the quarter, beating analysts’ consensus estimates of $0.45 by $0.01. The company had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.75 billion. Fastenal had a return on equity of 34.31% and a net margin of 15.72%. The company’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.43 earnings per share. As a group, equities analysts expect that Fastenal will post 2.15 earnings per share for the current year.

Fastenal Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, February 29th. Stockholders of record on Thursday, February 1st were issued a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.04%. This is a positive change from Fastenal’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend was Wednesday, January 31st. Fastenal’s payout ratio is 77.23%.

About Fastenal

(Free Report)

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.

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Institutional Ownership by Quarter for Fastenal (NASDAQ:FAST)

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