Fastenal (NASDAQ:FAST) Shares Purchased by Drive Wealth Management LLC

Drive Wealth Management LLC increased its position in shares of Fastenal (NASDAQ:FAST) by 26.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 6,153 shares of the company’s stock after acquiring an additional 1,296 shares during the quarter. Drive Wealth Management LLC’s holdings in Fastenal were worth $442,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Ashton Thomas Securities LLC acquired a new stake in Fastenal during the third quarter worth approximately $25,000. Knuff & Co LLC acquired a new stake in Fastenal during the third quarter worth approximately $27,000. Moisand Fitzgerald Tamayo LLC boosted its position in Fastenal by 1,019.0% during the third quarter. Moisand Fitzgerald Tamayo LLC now owns 470 shares of the company’s stock worth $34,000 after acquiring an additional 428 shares during the last quarter. First Personal Financial Services purchased a new position in Fastenal during the third quarter worth approximately $36,000. Finally, CVA Family Office LLC raised its stake in Fastenal by 51.0% during the third quarter. CVA Family Office LLC now owns 533 shares of the company’s stock worth $38,000 after purchasing an additional 180 shares during the period. Institutional investors and hedge funds own 81.38% of the company’s stock.

Insiders Place Their Bets

In other Fastenal news, Director Daniel L. Johnson sold 8,474 shares of the firm’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $83.36, for a total transaction of $706,392.64. Following the completion of the transaction, the director now directly owns 10,595 shares of the company’s stock, valued at $883,199.20. This trade represents a 44.44 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Daniel L. Florness sold 31,818 shares of the firm’s stock in a transaction 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 transaction, the chief executive officer now directly owns 286,018 shares of the company’s stock, valued at approximately $24,168,521. This represents a 10.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 74,660 shares of company stock valued at $6,211,126 in the last ninety days. Corporate insiders own 0.41% of the company’s stock.

Fastenal Stock Performance

Fastenal stock opened at $76.25 on Tuesday. Fastenal has a 12-month low of $61.36 and a 12-month high of $84.88. The company has a market capitalization of $43.68 billion, a price-to-earnings ratio of 37.93, a price-to-earnings-growth ratio of 3.60 and a beta of 1.02. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.67 and a quick ratio of 2.28. The firm’s fifty day moving average price is $77.18 and its 200 day moving average price is $73.52.

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). Fastenal had a return on equity of 32.55% and a net margin of 15.25%. The firm had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1,842,560.16 billion. During the same period last year, the firm earned $0.46 EPS. The business’s quarterly revenue was up 3.7% on a year-over-year basis. On average, research analysts forecast that Fastenal will post 2.15 EPS for the current fiscal year.

Fastenal Increases Dividend

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

Wall Street Analyst Weigh In

A number of research firms have weighed in on FAST. UBS Group began coverage on shares of Fastenal in a research note on Wednesday, November 13th. They set a “neutral” rating and a $88.00 price target on the stock. Stifel Nicolaus cut their price target on shares of Fastenal from $86.00 to $82.00 and set a “hold” rating on the stock in a research note on Tuesday, January 21st. Wolfe Research increased their price target on shares of Fastenal from $74.00 to $76.00 and gave the stock an “underweight” rating in a research note on Thursday, January 16th. Hsbc Global Res downgraded shares of Fastenal from a “hold” rating to a “moderate sell” rating in a research note on Wednesday, December 11th. Finally, Robert W. Baird increased their price target on shares of Fastenal from $67.00 to $80.00 and gave the stock a “neutral” rating in a research note on Monday, October 14th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, Fastenal presently has a consensus rating of “Hold” and an average price target of $76.91.

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.