Fastenal (NASDAQ:FAST) Shares Sold by Geneos Wealth Management Inc.

Geneos Wealth Management Inc. reduced its holdings in Fastenal (NASDAQ:FAST) by 13.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,663 shares of the company’s stock after selling 258 shares during the period. Geneos Wealth Management Inc.’s holdings in Fastenal were worth $108,000 at the end of the most recent quarter.

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

Fastenal Stock Performance

Shares of Fastenal stock opened at $69.39 on Tuesday. Fastenal has a one year low of $52.28 and a one year high of $79.04. The company has a market cap of $39.71 billion, a price-to-earnings ratio of 34.35, a PEG ratio of 3.64 and a beta of 1.05. 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 business’s 50 day moving average price is $73.74 and its 200 day moving average price is $66.08.

Fastenal (NASDAQ:FAST) last posted its earnings results on Thursday, April 11th. The company reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.01). Fastenal had a net margin of 15.68% and a return on equity of 33.98%. The business had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.91 billion. During the same quarter in the prior year, the firm earned $0.52 EPS. Fastenal’s revenue for the quarter was up 1.9% compared to the same quarter last year. On average, research analysts predict that Fastenal will post 2.15 EPS for the current year.

Fastenal Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 23rd. Shareholders of record on Thursday, April 25th will be given a $0.39 dividend. The ex-dividend date of this dividend is Wednesday, April 24th. This represents a $1.56 dividend on an annualized basis and a yield of 2.25%. Fastenal’s dividend payout ratio is currently 77.23%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on FAST shares. Loop Capital lowered their price target on Fastenal from $71.00 to $66.00 and set a “hold” rating on the stock in a research note on Monday. Robert W. Baird reduced their price objective on Fastenal from $77.00 to $71.00 and set a “neutral” rating on the stock in a research report on Friday. HSBC lifted their price objective on Fastenal from $59.00 to $64.00 and gave the stock a “hold” rating in a research report on Monday. Finally, Stifel Nicolaus lifted their price objective on Fastenal from $75.00 to $85.00 and gave the stock a “buy” rating in a research report on Monday, March 18th. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, Fastenal currently has an average rating of “Hold” and an average target price of $67.67.

Insider Buying and Selling at Fastenal

In other Fastenal news, VP Charles S. Miller sold 11,076 shares of Fastenal 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 filing with the SEC, which is available at this link. In related news, insider Jeffery Michael Watts sold 19,420 shares of the business’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $70.25, for a total value of $1,364,255.00. Following the sale, the insider now owns 5,940 shares in the company, valued at approximately $417,285. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Charles S. Miller sold 11,076 shares of the business’s stock in a transaction on Friday, March 15th. The shares were 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 105,682 shares of company stock worth $7,375,853 over the last quarter. 0.41% of the stock is currently owned by company insiders.

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.