Fastenal (NASDAQ:FAST) Shares Bought by Compass Ion Advisors LLC

Compass Ion Advisors LLC lifted its stake in shares of Fastenal (NASDAQ:FAST) by 1.5% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 9,927 shares of the company’s stock after buying an additional 146 shares during the quarter. Compass Ion Advisors LLC’s holdings in Fastenal were worth $709,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in FAST. Banque Cantonale Vaudoise acquired a new position in shares of Fastenal during the first quarter worth $1,105,000. Wedmont Private Capital increased its holdings in shares of Fastenal by 6.4% in the 1st quarter. Wedmont Private Capital now owns 3,736 shares of the company’s stock valued at $284,000 after acquiring an additional 224 shares during the last quarter. International Assets Investment Management LLC raised its position in shares of Fastenal by 49.4% during the 1st quarter. International Assets Investment Management LLC now owns 4,703 shares of the company’s stock worth $360,000 after acquiring an additional 1,555 shares in the last quarter. Gateway Investment Advisers LLC lifted its stake in Fastenal by 41.3% during the first quarter. Gateway Investment Advisers LLC now owns 13,683 shares of the company’s stock worth $1,056,000 after purchasing an additional 4,002 shares during the last quarter. Finally, Annex Advisory Services LLC acquired a new position in Fastenal in the first quarter valued at approximately $271,000. 81.38% of the stock is currently owned by hedge funds and other institutional investors.

Fastenal Stock Performance

Shares of FAST stock traded up $0.26 during midday trading on Friday, hitting $77.90. The company had a trading volume of 2,705,883 shares, compared to its average volume of 3,365,824. The stock has a market cap of $44.60 billion, a price-to-earnings ratio of 38.76, a PEG ratio of 4.13 and a beta of 1.01. The company has a debt-to-equity ratio of 0.04, a current ratio of 4.39 and a quick ratio of 2.29. The company’s 50 day simple moving average is $69.92 and its 200 day simple moving average is $67.97. Fastenal has a 52-week low of $56.41 and a 52-week high of $79.04.

Fastenal (NASDAQ:FAST) last announced its quarterly earnings data on Friday, October 11th. The company reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.01. Fastenal had a net margin of 15.54% and a return on equity of 33.54%. The company had revenue of $1.91 billion for the quarter, compared to analysts’ expectations of $1.90 billion. During the same period in the previous year, the company posted $0.52 EPS. Fastenal’s revenue was up 3.5% compared to the same quarter last year. Research analysts anticipate that Fastenal will post 2.04 earnings per share for the current fiscal year.

Fastenal Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Friday, October 25th will be given a $0.39 dividend. The ex-dividend date is Friday, October 25th. This represents a $1.56 dividend on an annualized basis and a yield of 2.00%. Fastenal’s payout ratio is currently 77.61%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on FAST. Bank of America started coverage on shares of Fastenal in a report on Monday, October 7th. They set a “buy” rating and a $85.00 price objective on the stock. JPMorgan Chase & Co. boosted their price target on shares of Fastenal from $57.00 to $63.00 and gave the company a “neutral” rating in a research report on Thursday, October 10th. Stephens upped their price objective on shares of Fastenal from $56.00 to $75.00 and gave the company an “equal weight” rating in a research note on Monday, October 14th. Stifel Nicolaus reiterated a “buy” rating and set a $86.00 target price (up previously from $80.00) on shares of Fastenal in a research report on Monday, October 14th. Finally, Jefferies Financial Group decreased their target price on Fastenal from $74.00 to $65.00 and set a “hold” rating for the company in a research report on Thursday, July 11th. Seven investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $73.33.

Insider Buying and Selling at Fastenal

In other news, VP John Lewis Soderberg sold 488 shares of the stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $76.32, for a total transaction of $37,244.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider William Joseph Drazkowski sold 16,362 shares of Fastenal stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $77.65, for a total transaction of $1,270,509.30. Following the completion of the sale, the insider now directly owns 5,997 shares in the company, valued at approximately $465,667.05. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP John Lewis Soderberg sold 488 shares of the company’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $76.32, for a total value of $37,244.16. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 179,373 shares of company stock valued at $13,029,308. 0.41% of the stock is owned by corporate insiders.

Fastenal Profile

Fastenal Company, together with its subsidiaries, engages in the wholesale distribution of industrial and construction supplies in the United States, Canada, Mexico, North America, and internationally. It offers fasteners, and related industrial and construction supplies under the Fastenal name. The company’s fastener products include threaded fasteners, bolts, nuts, screws, studs, and related washers that are used in manufactured products and construction projects, as well as in the maintenance and repair of machines.