Fastenal Company $FAST Shares Acquired by Nichols & Pratt Advisers LLP MA

Nichols & Pratt Advisers LLP MA increased its holdings in Fastenal Company (NASDAQ:FAST) by 1.2% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,153,474 shares of the company’s stock after buying an additional 13,216 shares during the period. Fastenal comprises about 3.6% of Nichols & Pratt Advisers LLP MA’s holdings, making the stock its 9th largest position. Nichols & Pratt Advisers LLP MA owned about 0.10% of Fastenal worth $56,566,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Brighton Jones LLC purchased a new stake in shares of Fastenal during the fourth quarter worth about $496,000. Integrated Wealth Concepts LLC boosted its position in 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 during the last quarter. Truist Financial Corp grew its stake in Fastenal by 100.5% in the 2nd quarter. Truist Financial Corp now owns 186,996 shares of the company’s stock worth $7,854,000 after acquiring an additional 93,754 shares during the period. Robeco Institutional Asset Management B.V. grew its stake in Fastenal by 154.0% in the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 118,845 shares of the company’s stock worth $4,991,000 after acquiring an additional 72,052 shares during the period. Finally, Hilltop National Bank acquired a new position in Fastenal in the 2nd quarter valued at $27,000. 81.38% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Fastenal

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

Fastenal Stock Up 3.3%

Shares of NASDAQ:FAST opened at $44.80 on Tuesday. The stock has a 50-day simple moving average of $41.97 and a 200-day simple moving average of $44.42. The stock has a market capitalization of $51.43 billion, a P/E ratio of 40.73, a PEG ratio of 2.76 and a beta of 0.89. Fastenal Company has a 1 year low of $35.31 and a 1 year high of $50.63. 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 quarterly earnings results on Tuesday, January 20th. The company reported $0.26 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.26. Fastenal had a net margin of 15.35% and a return on equity of 32.83%. The firm had revenue of $2.03 billion for the quarter, compared to analysts’ expectations of $2.04 billion. During the same period in the previous year, the company posted $0.46 earnings per share. Fastenal’s revenue was up 11.1% compared to the same quarter last year. Equities analysts forecast that Fastenal Company will post 2.15 earnings per share for the current year.

Fastenal Increases Dividend

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

Analyst Ratings Changes

Several equities analysts recently weighed in on FAST shares. Barclays set a $43.00 target price on Fastenal and gave the stock an “equal weight” rating in a research report on Wednesday, January 21st. UBS Group reaffirmed a “neutral” rating and set a $46.00 price objective on shares of Fastenal in a research note on Wednesday, January 21st. Sanford C. Bernstein reiterated an “underperform” rating on shares of Fastenal in a report on Wednesday, January 21st. Weiss Ratings restated a “buy (b-)” rating on shares of Fastenal in a report on Monday, December 29th. Finally, Robert W. Baird cut their price target on shares of Fastenal from $53.00 to $49.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 14th. Four research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Fastenal has a consensus rating of “Hold” and a consensus price target of $48.00.

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.