Fastenal (NASDAQ:FAST) Shares Sold by Phoenix Wealth Advisors

Phoenix Wealth Advisors decreased its position in Fastenal (NASDAQ:FAST) by 0.8% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 21,214 shares of the company’s stock after selling 164 shares during the period. Phoenix Wealth Advisors’ holdings in Fastenal were worth $1,525,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of FAST. Pacer Advisors Inc. lifted its holdings in shares of Fastenal by 9.4% during the second quarter. Pacer Advisors Inc. now owns 85,468 shares of the company’s stock valued at $5,371,000 after purchasing an additional 7,323 shares during the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of Fastenal by 20.7% during the second quarter. EverSource Wealth Advisors LLC now owns 2,142 shares of the company’s stock valued at $135,000 after purchasing an additional 368 shares during the last quarter. Public Sector Pension Investment Board lifted its holdings in shares of Fastenal by 74.0% during the second quarter. Public Sector Pension Investment Board now owns 21,987 shares of the company’s stock valued at $1,382,000 after purchasing an additional 9,351 shares during the last quarter. Evergreen Capital Management LLC lifted its holdings in shares of Fastenal by 3.1% during the second quarter. Evergreen Capital Management LLC now owns 9,639 shares of the company’s stock valued at $606,000 after purchasing an additional 292 shares during the last quarter. Finally, Xponance Inc. lifted its holdings in shares of Fastenal by 5.2% during the second quarter. Xponance Inc. now owns 124,238 shares of the company’s stock valued at $7,807,000 after purchasing an additional 6,134 shares during the last quarter. Institutional investors and hedge funds own 81.38% of the company’s stock.

Fastenal Stock Performance

FAST opened at $76.09 on Wednesday. The company has a market cap of $43.59 billion, a PE ratio of 37.86, a price-to-earnings-growth ratio of 4.22 and a beta of 1.02. The stock has a 50-day moving average of $77.60 and a 200-day moving average of $73.26. Fastenal has a 52-week low of $61.36 and a 52-week high of $84.88. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.28 and a current ratio of 4.67.

Fastenal (NASDAQ:FAST) last released its quarterly earnings results on Friday, January 17th. The company reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.02). The company had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1,842,560.16 billion. Fastenal had a return on equity of 32.55% and a net margin of 15.25%. The business’s revenue was up 3.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.46 EPS. As a group, equities research analysts forecast that Fastenal will post 2.16 earnings per share for the current fiscal year.

Fastenal Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, January 31st will be paid a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a dividend yield of 2.26%. The ex-dividend date of this dividend is Friday, January 31st. This is an increase from Fastenal’s previous quarterly dividend of $0.39. Fastenal’s dividend payout ratio is 77.61%.

Insider Activity at Fastenal

In related news, CEO Daniel L. Florness sold 31,818 shares of the stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $84.50, for a total transaction of $2,688,621.00. Following the completion of the sale, the chief executive officer now owns 286,018 shares in the company, valued at $24,168,521. This represents a 10.01 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Rita J. Heise sold 10,888 shares of the stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $77.67, for a total value of $845,670.96. Following the sale, the director now owns 20,000 shares of the company’s stock, valued at approximately $1,553,400. The trade was a 35.25 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 74,660 shares of company stock worth $6,211,126 in the last 90 days. 0.41% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several brokerages have recently commented on FAST. Morgan Stanley upped their price target on Fastenal from $72.00 to $76.00 and gave the company an “equal weight” rating in a research report on Monday, October 14th. Jefferies Financial Group upped their price target on Fastenal from $74.00 to $85.00 and gave the company a “hold” rating in a research report on Friday, December 6th. JPMorgan Chase & Co. upped their price target on Fastenal from $57.00 to $63.00 and gave the company a “neutral” rating in a research report on Thursday, October 10th. HSBC lowered Fastenal from a “hold” rating to a “reduce” rating and set a $70.00 price target on the stock. in a research report on Wednesday, December 11th. Finally, Robert W. Baird upped their price target on Fastenal from $67.00 to $80.00 and gave the company a “neutral” rating in a research report on Monday, October 14th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, Fastenal presently has a consensus rating of “Hold” and an average price target of $76.91.

Fastenal Company 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.