Drucker Wealth 3.0 LLC Has $2.50 Million Holdings in Fastenal Company $FAST

Drucker Wealth 3.0 LLC lifted its holdings in shares of Fastenal Company (NASDAQ:FAST) by 87.9% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 50,969 shares of the company’s stock after buying an additional 23,850 shares during the period. Drucker Wealth 3.0 LLC’s holdings in Fastenal were worth $2,500,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Twin Peaks Wealth Advisors LLC acquired a new position in shares of Fastenal in the second quarter valued at approximately $27,000. NewSquare Capital LLC grew its position in shares of Fastenal by 197.5% during the 2nd quarter. NewSquare Capital LLC now owns 714 shares of the company’s stock worth $30,000 after buying an additional 474 shares during the period. MV Capital Management Inc. boosted its position in shares of Fastenal by 96.1% during the 2nd quarter. MV Capital Management Inc. now owns 712 shares of the company’s stock worth $30,000 after purchasing an additional 349 shares in the last quarter. SOA Wealth Advisors LLC. raised its position in shares of Fastenal by 71.6% during the third quarter. SOA Wealth Advisors LLC. now owns 611 shares of the company’s stock worth $30,000 after purchasing an additional 255 shares during the period. Finally, REAP Financial Group LLC bought a new stake in shares of Fastenal during the third quarter worth about $30,000. 81.38% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

FAST has been the topic of several analyst reports. Barclays set a $43.00 price target on shares of Fastenal and gave the stock an “equal weight” rating in a report on Wednesday, January 21st. Robert W. Baird raised their target price on Fastenal from $49.00 to $51.00 and gave the stock an “outperform” rating in a research note on Thursday, February 5th. Wolfe Research decreased their price objective on shares of Fastenal from $43.00 to $42.00 and set an “underperform” rating on the stock in a research report on Wednesday, January 21st. UBS Group reiterated a “neutral” rating and set a $46.00 price target on shares of Fastenal in a research report on Wednesday, January 21st. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Fastenal in a research report on Monday, December 29th. Four equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, Fastenal currently has a consensus rating of “Hold” and a consensus target price of $48.18.

Insider Buying and Selling at Fastenal

In other Fastenal news, Director Scott Satterlee sold 15,964 shares of Fastenal stock in a transaction on Friday, January 23rd. The stock was sold at an average price of $44.19, for a total transaction of $705,449.16. Following the completion of the sale, the director directly owned 50,000 shares of the company’s stock, valued at $2,209,500. The trade was a 24.20% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.37% of the company’s stock.

Fastenal Stock Performance

FAST stock opened at $45.69 on Wednesday. The company has a current ratio of 4.85, a quick ratio of 2.41 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $52.46 billion, a PE ratio of 41.54, a price-to-earnings-growth ratio of 2.96 and a beta of 0.89. The stock’s 50 day simple moving average is $43.30 and its 200 day simple moving average is $44.42. Fastenal Company has a 12-month low of $35.31 and a 12-month high of $50.63.

Fastenal (NASDAQ:FAST) last released its quarterly earnings results on Tuesday, January 20th. The company reported $0.26 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.26. The business had revenue of $2.03 billion during the quarter, compared to analyst estimates of $2.04 billion. Fastenal had a return on equity of 32.83% and a net margin of 15.35%.Fastenal’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.46 earnings per share. As a group, research analysts forecast that Fastenal Company will post 2.15 earnings per share for the current fiscal 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 $0.24 dividend. 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 dividend on an annualized basis and a dividend yield of 2.1%. Fastenal’s dividend payout ratio (DPR) is currently 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.