Concurrent Investment Advisors LLC Purchases 16,905 Shares of Fastenal Company $FAST

Concurrent Investment Advisors LLC grew its position in shares of Fastenal Company (NASDAQ:FAST) by 41.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 57,913 shares of the company’s stock after acquiring an additional 16,905 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in Fastenal were worth $2,324,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of the stock. Integrated Wealth Concepts LLC lifted its stake in Fastenal by 2.4% during the 1st quarter. Integrated Wealth Concepts LLC now owns 6,276 shares of the company’s stock valued at $487,000 after acquiring an additional 147 shares in the last quarter. Founders Capital Management LLC grew its stake in shares of Fastenal by 2.2% in the 4th quarter. Founders Capital Management LLC now owns 10,428 shares of the company’s stock worth $418,000 after acquiring an additional 228 shares in the last quarter. Sowell Financial Services LLC raised its holdings in shares of Fastenal by 4.7% in the third quarter. Sowell Financial Services LLC now owns 5,308 shares of the company’s stock valued at $260,000 after purchasing an additional 238 shares during the last quarter. L2 Asset Management LLC raised its holdings in shares of Fastenal by 4.8% in the third quarter. L2 Asset Management LLC now owns 5,389 shares of the company’s stock valued at $264,000 after purchasing an additional 248 shares during the last quarter. Finally, SOA Wealth Advisors LLC. raised its holdings in shares of Fastenal by 71.6% in the third quarter. SOA Wealth Advisors LLC. now owns 611 shares of the company’s stock valued at $30,000 after purchasing an additional 255 shares during the last quarter. Institutional investors own 81.38% of the company’s stock.

Insider Activity at Fastenal

In other news, Director Reyne K. Wisecup sold 36,920 shares of the company’s stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $47.34, for a total transaction of $1,747,792.80. Following the transaction, the director owned 40,000 shares of the company’s stock, valued at $1,893,600. This represents a 48.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.28% of the stock is owned by corporate insiders.

Fastenal Stock Down 1.3%

Shares of NASDAQ:FAST opened at $44.68 on Wednesday. The company has a market capitalization of $51.29 billion, a PE ratio of 39.19, a price-to-earnings-growth ratio of 2.89 and a beta of 0.84. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.39 and a quick ratio of 2.34. The business has a fifty day moving average price of $45.77 and a two-hundred day moving average price of $43.54. Fastenal Company has a 1 year low of $38.97 and a 1 year high of $50.63.

Fastenal (NASDAQ:FAST) last announced its quarterly earnings data on Monday, April 13th. The company reported $0.30 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.30. Fastenal had a return on equity of 33.25% and a net margin of 15.39%.The firm had revenue of $2.20 billion during the quarter, compared to the consensus estimate of $2.19 billion. During the same quarter in the prior year, the company earned $0.52 EPS. The business’s revenue for the quarter was up 12.4% on a year-over-year basis. Analysts forecast that Fastenal Company will post 1.23 earnings per share for the current year.

Fastenal Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, May 26th. Stockholders of record on Tuesday, April 28th will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend is Tuesday, April 28th. Fastenal’s dividend payout ratio is currently 84.21%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Barclays increased their target price on shares of Fastenal from $44.00 to $45.00 and gave the company an “equal weight” rating in a report on Thursday, April 16th. JPMorgan Chase & Co. increased their target price on shares of Fastenal from $46.00 to $47.00 and gave the company a “neutral” rating in a report on Thursday, April 9th. Robert W. Baird lowered their target price on shares of Fastenal from $52.00 to $50.00 and set an “outperform” rating for the company in a report on Tuesday, April 14th. Bank of America increased their target price on shares of Fastenal from $48.00 to $55.00 in a report on Monday, April 13th. Finally, Benchmark restated a “buy” rating on shares of Fastenal in a research note on Thursday, March 5th. Five analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Fastenal currently has an average rating of “Hold” and an average price target of $49.77.

Fastenal Company 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.