Alps Advisors Inc. Has $5.41 Million Stake in Fastenal Company $FAST

Alps Advisors Inc. lowered its stake in shares of Fastenal Company (NASDAQ:FAST) by 39.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 110,224 shares of the company’s stock after selling 72,220 shares during the quarter. Alps Advisors Inc.’s holdings in Fastenal were worth $5,405,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Brighton Jones LLC purchased a new position in shares of Fastenal in the 4th quarter worth about $496,000. Integrated Wealth Concepts LLC lifted its position in shares of Fastenal by 2.4% during the first quarter. Integrated Wealth Concepts LLC now owns 6,276 shares of the company’s stock worth $487,000 after acquiring an additional 147 shares in the last quarter. Ameritas Advisory Services LLC purchased a new position in Fastenal during the 2nd quarter valued at about $45,000. Callan Family Office LLC bought a new stake in Fastenal during the 2nd quarter worth approximately $947,000. Finally, IFP Advisors Inc raised its position in shares of Fastenal by 52.0% in the second quarter. IFP Advisors Inc now owns 7,086 shares of the company’s stock worth $298,000 after buying an additional 2,423 shares in the last quarter. 81.38% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

FAST has been the topic of a number of recent analyst reports. Sanford C. Bernstein reaffirmed an “underperform” rating on shares of Fastenal in a research note on Wednesday, January 21st. Wolfe Research reduced their target price on Fastenal from $43.00 to $42.00 and set an “underperform” rating on the stock in a research note on Wednesday, January 21st. UBS Group reaffirmed a “neutral” rating and set a $46.00 price target on shares of Fastenal in a research note on Wednesday, January 21st. Barclays set a $43.00 price objective on Fastenal and gave the stock an “equal weight” rating in a report on Wednesday, January 21st. Finally, Robert W. Baird raised their price objective on Fastenal from $49.00 to $51.00 and gave the company an “outperform” rating in a report on Thursday, February 5th. Four equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $48.18.

Insider Transactions at Fastenal

In other Fastenal news, Director Sarah N. Nielsen bought 1,000 shares of the business’s stock in a transaction on Wednesday, November 19th. The shares were acquired at an average cost of $39.60 per share, for a total transaction of $39,600.00. Following the purchase, the director owned 5,000 shares in the company, 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 Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Hsenghung Sam Hsu acquired 1,000 shares of the company’s stock in a transaction that occurred on Thursday, November 13th. The shares were acquired at an average cost of $49.58 per share, for a total transaction of $49,580.00. Following the completion of the transaction, the director directly owned 10,000 shares of the company’s stock, valued at $495,800. The trade was a 11.11% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 0.37% of the stock is owned by insiders.

Fastenal Stock Down 2.5%

Shares of Fastenal stock opened at $46.52 on Tuesday. The company has a current ratio of 4.85, a quick ratio of 2.41 and a debt-to-equity ratio of 0.03. Fastenal Company has a 12-month low of $35.31 and a 12-month high of $50.63. The company has a market cap of $53.41 billion, a P/E ratio of 42.29, a PEG ratio of 3.04 and a beta of 0.89. The company’s fifty day simple moving average is $42.67 and its two-hundred day simple moving average is $44.43.

Fastenal (NASDAQ:FAST) last posted its earnings results on Tuesday, January 20th. The company reported $0.26 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.26. The firm had revenue of $2.03 billion for the quarter, compared to the consensus estimate of $2.04 billion. Fastenal had a return on equity of 32.83% and a net margin of 15.35%.The business’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.46 EPS. Research analysts anticipate that Fastenal Company will post 2.15 EPS for the current year.

Fastenal Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 26th. Stockholders of record on Thursday, January 29th will be issued a dividend of $0.24 per share. The ex-dividend date is Thursday, January 29th. This is a boost from Fastenal’s previous quarterly dividend of $0.22. This represents a $0.96 annualized dividend and a dividend yield of 2.1%. Fastenal’s dividend 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.