Fastenal Company $FAST Shares Acquired by Ascent Group LLC

Ascent Group LLC boosted its position in Fastenal Company (NASDAQ:FAST) by 28.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 95,914 shares of the company’s stock after purchasing an additional 21,303 shares during the period. Ascent Group LLC’s holdings in Fastenal were worth $4,704,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the business. Riverview Trust Co raised its stake in shares of Fastenal by 100.0% during the 2nd quarter. Riverview Trust Co now owns 584 shares of the company’s stock worth $25,000 after buying an additional 292 shares in the last quarter. Hilltop National Bank acquired a new position in Fastenal during the second quarter worth $27,000. Private Wealth Management Group LLC raised its position in Fastenal by 111.9% in the second quarter. Private Wealth Management Group LLC now owns 642 shares of the company’s stock worth $27,000 after acquiring an additional 339 shares in the last quarter. Twin Peaks Wealth Advisors LLC acquired a new stake in Fastenal in the second quarter valued at $27,000. Finally, Armstrong Advisory Group Inc. boosted its position in shares of Fastenal by 100.0% during the 2nd quarter. Armstrong Advisory Group Inc. now owns 696 shares of the company’s stock worth $29,000 after purchasing an additional 348 shares in the last quarter. Hedge funds and other institutional investors own 81.38% of the company’s stock.

Insider Buying and Selling at Fastenal

In other Fastenal news, Director Sarah N. Nielsen acquired 1,000 shares of the stock in a transaction dated Wednesday, November 19th. The stock was acquired at an average price of $39.60 per share, with a total value of $39,600.00. Following the completion of the transaction, the director directly owned 5,000 shares in the company, valued at approximately $198,000. This trade represents a 25.00% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Hsenghung Sam Hsu bought 1,000 shares of the company’s stock in a transaction that occurred on Thursday, November 13th. The stock was acquired at an average price of $49.58 per share, with a total value of $49,580.00. Following the completion of the purchase, the director directly owned 10,000 shares of the company’s stock, valued at approximately $495,800. The trade was a 11.11% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have bought 3,000 shares of company stock worth $131,630 in the last 90 days. Insiders own 0.37% of the company’s stock.

Fastenal Price Performance

Fastenal stock opened at $40.87 on Wednesday. The stock has a market capitalization of $46.92 billion, a P/E ratio of 38.20, a P/E/G ratio of 3.30 and a beta of 0.89. Fastenal Company has a 12-month low of $35.31 and a 12-month high of $50.63. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.26 and a quick ratio of 2.19. The firm’s 50-day moving average is $41.18 and its two-hundred day moving average is $44.43.

Fastenal (NASDAQ:FAST) last posted its quarterly earnings data on Tuesday, October 14th. The company reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.01). Fastenal had a net margin of 15.34% and a return on equity of 32.69%. The firm had revenue of $2.13 billion during the quarter, compared to analyst estimates of $2.13 billion. During the same period in the prior year, the firm earned $0.26 EPS. The business’s quarterly revenue was up 11.7% on a year-over-year basis. Equities analysts predict that Fastenal Company will post 2.15 earnings per share for the current year.

Fastenal Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 25th. Stockholders of record on Tuesday, October 28th were issued a dividend of $0.22 per share. The ex-dividend date was Tuesday, October 28th. This represents a $0.88 annualized dividend and a dividend yield of 2.2%. Fastenal’s dividend payout ratio (DPR) is 82.24%.

Analyst Upgrades and Downgrades

FAST has been the subject of a number of research analyst reports. JPMorgan Chase & Co. increased their price target on shares of Fastenal from $41.00 to $46.00 and gave the company a “neutral” rating in a report on Thursday, September 4th. Sanford C. Bernstein reaffirmed an “underperform” rating on shares of Fastenal in a report on Monday. Robert W. Baird decreased their price target on Fastenal from $53.00 to $49.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 14th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Fastenal in a research note on Monday. Finally, Jefferies Financial Group set a $52.00 price objective on Fastenal and gave the stock a “buy” rating in a report on Monday, December 15th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $48.73.

Fastenal Profile

Fastenal (NASDAQ: FAST) is a wholesale distributor of industrial and construction supplies, best known for its broad assortment of fasteners such as bolts, nuts, screws and anchors. Founded in Winona, Minnesota, Fastenal has grown from a regional supplier into a national and international distributor serving a wide range of end markets, including manufacturing, construction, maintenance, repair and operations (MRO), and government customers. The company is publicly traded and operates through a network of locally staffed branches combined with national distribution capabilities.

Product offerings extend beyond fasteners to include tools, safety and personal protective equipment, power transmission components, cutting and welding supplies, janitorial and material handling items, and other industrial consumables.