BlueStem Wealth Partners LLC Makes New $634,000 Investment in Fastenal Company $FAST

BlueStem Wealth Partners LLC acquired a new position in Fastenal Company (NASDAQ:FAST) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 12,938 shares of the company’s stock, valued at approximately $634,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Integrated Wealth Concepts LLC increased its holdings in Fastenal by 2.4% in the first quarter. Integrated Wealth Concepts LLC now owns 6,276 shares of the company’s stock worth $487,000 after purchasing an additional 147 shares in the last quarter. Sowell Financial Services LLC grew its position in shares of Fastenal by 4.7% during the 3rd quarter. Sowell Financial Services LLC now owns 5,308 shares of the company’s stock worth $260,000 after buying an additional 238 shares during the period. Rowlandmiller & PARTNERS.ADV increased its stake in shares of Fastenal by 1.7% in the 3rd quarter. Rowlandmiller & PARTNERS.ADV now owns 14,704 shares of the company’s stock valued at $721,000 after acquiring an additional 250 shares in the last quarter. SOA Wealth Advisors LLC. lifted its position in shares of Fastenal by 71.6% during the 3rd quarter. SOA Wealth Advisors LLC. now owns 611 shares of the company’s stock valued at $30,000 after acquiring an additional 255 shares during the period. Finally, Harfst & Associates Inc. boosted its stake in Fastenal by 0.4% during the third quarter. Harfst & Associates Inc. now owns 63,720 shares of the company’s stock worth $3,125,000 after acquiring an additional 256 shares in the last quarter. Institutional investors own 81.38% of the company’s stock.

Insider Activity at Fastenal

In related news, Director Scott Satterlee sold 15,964 shares of the firm’s stock in a transaction dated Friday, January 23rd. The shares were sold at an average price of $44.19, for a total transaction of $705,449.16. Following the transaction, the director directly owned 50,000 shares of the company’s stock, valued at $2,209,500. This trade represents a 24.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.28% of the stock is currently owned by corporate insiders.

Fastenal Stock Performance

Shares of FAST opened at $46.33 on Tuesday. The firm has a market capitalization of $53.20 billion, a P/E ratio of 42.12, a P/E/G ratio of 2.94 and a beta of 0.88. Fastenal Company has a 52 week low of $35.31 and a 52 week high of $50.63. The stock has a 50 day moving average price of $43.97 and a two-hundred day moving average price of $44.31. 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 (EPS) for the quarter, meeting the consensus estimate of $0.26. The company had revenue of $2.03 billion for the quarter, compared to analysts’ expectations of $2.04 billion. Fastenal had a return on equity of 32.83% and a net margin of 15.35%.Fastenal’s quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.46 earnings per share. Equities analysts forecast that Fastenal Company will post 2.15 earnings per share for the current fiscal year.

Fastenal Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 26th. Stockholders of record on Thursday, January 29th were paid a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 2.1%. The ex-dividend date was Thursday, January 29th. This is a positive change from Fastenal’s previous quarterly dividend of $0.22. Fastenal’s dividend payout ratio (DPR) is currently 87.27%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on FAST. UBS Group reiterated a “neutral” rating and set a $46.00 price objective on shares of Fastenal in a report on Wednesday, January 21st. Sanford C. Bernstein reaffirmed an “underperform” rating on shares of Fastenal in a research report on Wednesday, January 21st. Jefferies Financial Group set a $52.00 price target on Fastenal and gave the stock a “buy” rating in a research note on Monday, December 15th. Robert W. Baird raised their price objective on Fastenal from $49.00 to $51.00 and gave the company an “outperform” rating in a research note on Thursday, February 5th. Finally, 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. Four investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Fastenal currently has a consensus rating of “Hold” and a consensus price target of $48.27.

Fastenal 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.