Fastenal (NASDAQ:FAST) Shares Purchased by Stephens Investment Management Group LLC

Stephens Investment Management Group LLC boosted its stake in Fastenal (NASDAQ:FAST) by 14.7% in the 3rd quarter, Holdings Channel reports. The firm owned 151,171 shares of the company’s stock after buying an additional 19,387 shares during the quarter. Stephens Investment Management Group LLC’s holdings in Fastenal were worth $4,939,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Covenant Asset Management LLC boosted its position in Fastenal by 3.0% in the 3rd quarter. Covenant Asset Management LLC now owns 10,989 shares of the company’s stock valued at $359,000 after buying an additional 325 shares during the last quarter. Farmers & Merchants Investments Inc. boosted its position in Fastenal by 94.0% in the 2nd quarter. Farmers & Merchants Investments Inc. now owns 774 shares of the company’s stock valued at $25,000 after buying an additional 375 shares during the last quarter. Avestar Capital LLC boosted its position in Fastenal by 66.8% in the 2nd quarter. Avestar Capital LLC now owns 1,034 shares of the company’s stock valued at $32,000 after buying an additional 414 shares during the last quarter. Wealthcare Advisory Partners LLC boosted its position in Fastenal by 101.2% in the 2nd quarter. Wealthcare Advisory Partners LLC now owns 843 shares of the company’s stock valued at $27,000 after buying an additional 424 shares during the last quarter. Finally, Clarus Wealth Advisors boosted its position in Fastenal by 101.2% in the 2nd quarter. Clarus Wealth Advisors now owns 845 shares of the company’s stock valued at $28,000 after buying an additional 425 shares during the last quarter. Hedge funds and other institutional investors own 83.98% of the company’s stock.

A number of equities analysts have weighed in on the stock. Wells Fargo & Co decreased their price objective on shares of Fastenal from $35.00 to $30.00 and set a “market perform” rating for the company in a research report on Friday, July 12th. Buckingham Research increased their price target on shares of Fastenal from $30.00 to $33.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 15th. ValuEngine cut shares of Fastenal from a “sell” rating to a “strong sell” rating in a research report on Wednesday, October 2nd. Zacks Investment Research cut shares of Fastenal from a “hold” rating to a “sell” rating and set a $38.00 price target on the stock. in a research report on Monday, October 14th. Finally, Raymond James cut shares of Fastenal from a “strong-buy” rating to a “market perform” rating in a research report on Monday, October 14th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $34.55.

In related news, CAO Sheryl Ann Lisowski sold 5,615 shares of the stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $33.50, for a total transaction of $188,102.50. Following the sale, the chief accounting officer now owns 10,382 shares in the company, valued at $347,797. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Daniel L. Florness sold 40,000 shares of the stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $36.00, for a total transaction of $1,440,000.00. Following the sale, the chief executive officer now owns 239,690 shares in the company, valued at approximately $8,628,840. The disclosure for this sale can be found here. In the last quarter, insiders have sold 54,365 shares of company stock worth $1,937,415. 0.62% of the stock is owned by company insiders.

Shares of FAST stock opened at $36.24 on Monday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.06 and a current ratio of 4.51. Fastenal has a one year low of $24.00 and a one year high of $36.58. The company’s 50-day simple moving average is $32.44 and its 200-day simple moving average is $40.95. The stock has a market capitalization of $20.66 billion, a price-to-earnings ratio of 27.45, a PEG ratio of 1.63 and a beta of 1.24.

Fastenal (NASDAQ:FAST) last issued its quarterly earnings results on Friday, October 11th. The company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.36 by $0.01. Fastenal had a net margin of 14.77% and a return on equity of 32.03%. The business had revenue of $1.38 billion for the quarter, compared to analysts’ expectations of $1.38 billion. During the same quarter last year, the company posted $0.34 earnings per share. The company’s quarterly revenue was up 7.8% compared to the same quarter last year. As a group, research analysts forecast that Fastenal will post 1.38 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Friday, October 25th will be paid a dividend of $0.22 per share. The ex-dividend date of this dividend is Thursday, October 24th. This represents a $0.88 annualized dividend and a yield of 2.43%. Fastenal’s dividend payout ratio (DPR) is 66.67%.

Fastenal Profile

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

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Institutional Ownership by Quarter for Fastenal (NASDAQ:FAST)

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