Fastenal (NASDAQ:FAST) Shares Acquired by Bleakley Financial Group LLC

Bleakley Financial Group LLC lifted its holdings in shares of Fastenal (NASDAQ:FAST) by 6.1% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,014 shares of the company’s stock after purchasing an additional 458 shares during the quarter. Bleakley Financial Group LLC’s holdings in Fastenal were worth $519,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Raymond James & Associates boosted its holdings in Fastenal by 3.7% in the fourth quarter. Raymond James & Associates now owns 900,171 shares of the company’s stock valued at $58,304,000 after acquiring an additional 31,814 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in Fastenal by 178.1% in the fourth quarter. Assenagon Asset Management S.A. now owns 78,030 shares of the company’s stock valued at $5,054,000 after acquiring an additional 49,972 shares during the last quarter. B. Riley Wealth Advisors Inc. acquired a new position in Fastenal in the third quarter valued at $1,293,000. National Bank of Canada FI boosted its holdings in Fastenal by 26.8% in the third quarter. National Bank of Canada FI now owns 262,544 shares of the company’s stock valued at $14,401,000 after acquiring an additional 55,491 shares during the last quarter. Finally, Kampmann Melissa S. acquired a new position in Fastenal in the third quarter valued at $2,777,000. Institutional investors and hedge funds own 81.38% of the company’s stock.

Fastenal Stock Performance

Shares of FAST stock opened at $70.45 on Friday. The company has a quick ratio of 2.27, a current ratio of 4.83 and a debt-to-equity ratio of 0.06. The business has a 50 day moving average of $73.74 and a two-hundred day moving average of $65.91. Fastenal has a 52 week low of $50.30 and a 52 week high of $79.04. The company has a market cap of $40.31 billion, a P/E ratio of 34.88, a PEG ratio of 3.61 and a beta of 1.05.

Fastenal (NASDAQ:FAST) last issued 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 business had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.91 billion. During the same quarter in the prior year, the firm posted $0.52 earnings per share. The business’s quarterly revenue was up 1.9% on a year-over-year basis. As a group, analysts anticipate that Fastenal will post 2.15 EPS for the current year.

Fastenal Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 23rd. Shareholders of record on Thursday, April 25th will be issued a $0.39 dividend. The ex-dividend date is Wednesday, April 24th. This represents a $1.56 annualized dividend and a dividend yield of 2.21%. Fastenal’s dividend payout ratio is currently 77.23%.

Insider Buying and Selling at Fastenal

In other Fastenal news, VP Charles S. Miller sold 11,076 shares of the company’s stock in a transaction on 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 legal filing with the SEC, which is accessible through this link. In other Fastenal news, VP Charles S. Miller sold 11,076 shares of the company’s stock in a transaction on 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 legal filing with the SEC, which is accessible through this link. Also, EVP Anthony Paul Broersma sold 5,586 shares of the business’s stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $69.34, for a total transaction of $387,333.24. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 105,682 shares of company stock valued at $7,375,853. Corporate insiders own 0.41% of the company’s stock.

Analysts Set New Price Targets

FAST has been the topic of a number of analyst reports. Robert W. Baird dropped their target price on Fastenal from $77.00 to $71.00 and set a “neutral” rating on the stock in a research report on Friday. Stifel Nicolaus lifted their price target on Fastenal from $75.00 to $85.00 and gave the stock a “buy” rating in a research note on Monday, March 18th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, Fastenal has a consensus rating of “Hold” and a consensus target price of $67.00.

Fastenal Company 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.