Peterson Wealth Services Purchases 20,515 Shares of Fastenal Company $FAST

Peterson Wealth Services grew its position in Fastenal Company (NASDAQ:FAST) by 709.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 23,408 shares of the company’s stock after acquiring an additional 20,515 shares during the quarter. Peterson Wealth Services’ holdings in Fastenal were worth $1,148,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in FAST. Hilltop National Bank purchased a new position in Fastenal in the 2nd quarter worth about $27,000. Private Wealth Management Group LLC lifted its stake in shares of Fastenal by 111.9% during the 2nd quarter. Private Wealth Management Group LLC now owns 642 shares of the company’s stock worth $27,000 after purchasing an additional 339 shares during the last quarter. Twin Peaks Wealth Advisors LLC bought a new stake in Fastenal during the second quarter valued at about $27,000. NewSquare Capital LLC lifted its position in Fastenal by 197.5% during the second quarter. NewSquare Capital LLC now owns 714 shares of the company’s stock valued at $30,000 after acquiring an additional 474 shares during the last quarter. Finally, MV Capital Management Inc. boosted its stake in Fastenal by 96.1% in the second quarter. MV Capital Management Inc. now owns 712 shares of the company’s stock valued at $30,000 after acquiring an additional 349 shares in the last quarter. 81.38% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Sarah N. Nielsen purchased 1,000 shares of the company’s stock in a transaction on Wednesday, November 19th. The shares were bought at an average cost of $39.60 per share, for a total transaction of $39,600.00. Following the completion of the purchase, the director directly owned 5,000 shares of the company’s stock, valued at approximately $198,000. This trade represents a 25.00% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Hsenghung Sam Hsu bought 1,000 shares of the stock in a transaction dated Thursday, November 13th. The shares were acquired at an average price of $49.58 per share, for a total transaction of $49,580.00. Following the completion of the transaction, the director owned 10,000 shares of the company’s stock, valued at approximately $495,800. The trade was a 11.11% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 0.37% of the stock is owned by company insiders.

Analyst Ratings Changes

FAST has been the topic of a number of recent analyst reports. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Fastenal in a research report on Monday, December 29th. Robert W. Baird dropped 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. Barclays set a $43.00 price objective on Fastenal and gave the stock an “equal weight” rating in a research note on Wednesday, January 21st. UBS Group reissued a “neutral” rating and set a $46.00 target price on shares of Fastenal in a report on Wednesday, January 21st. Finally, Jefferies Financial Group set a $52.00 target price on shares of Fastenal and gave the company a “buy” rating in a research note on Monday, December 15th. Four research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $48.00.

Fastenal Trading Up 3.3%

FAST opened at $44.80 on Tuesday. The stock has a market capitalization of $51.43 billion, a PE ratio of 40.73, a P/E/G ratio of 2.76 and a beta of 0.89. Fastenal Company has a one year low of $35.31 and a one year high of $50.63. The business’s 50 day moving average price is $41.97 and its 200 day moving average price is $44.42. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.41 and a current ratio of 4.85.

Fastenal (NASDAQ:FAST) last announced its earnings results on Tuesday, January 20th. The company reported $0.26 earnings per share for the quarter, hitting the consensus estimate of $0.26. Fastenal had a net margin of 15.35% and a return on equity of 32.83%. The company had revenue of $2.03 billion during the quarter, compared to analyst estimates of $2.04 billion. During the same quarter last year, the firm posted $0.46 earnings per share. Fastenal’s revenue was up 11.1% compared to the same quarter last year. As a group, equities research analysts expect that Fastenal Company will post 2.15 EPS for the current year.

Fastenal Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 26th. Shareholders of record on Thursday, January 29th will be paid a $0.24 dividend. This is a boost from Fastenal’s previous quarterly dividend of $0.22. This represents a $0.96 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date is Thursday, January 29th. Fastenal’s payout ratio is 87.27%.

About Fastenal

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.