Perigon Wealth Management LLC Trims Stock Holdings in Fastenal (NASDAQ:FAST)

Perigon Wealth Management LLC lowered its stake in Fastenal (NASDAQ:FAST) by 42.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,248 shares of the company’s stock after selling 2,371 shares during the quarter. Perigon Wealth Management LLC’s holdings in Fastenal were worth $210,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of FAST. Valeo Financial Advisors LLC lifted its holdings in shares of Fastenal by 3.7% in the 4th quarter. Valeo Financial Advisors LLC now owns 8,139 shares of the company’s stock worth $527,000 after acquiring an additional 294 shares during the last quarter. Sapient Capital LLC purchased a new stake in Fastenal in the fourth quarter valued at approximately $204,000. Janiczek Wealth Management LLC lifted its stake in Fastenal by 11.0% during the fourth quarter. Janiczek Wealth Management LLC now owns 3,481 shares of the company’s stock worth $225,000 after purchasing an additional 346 shares in the last quarter. Cerity Partners LLC boosted its position in shares of Fastenal by 188.7% during the fourth quarter. Cerity Partners LLC now owns 507,984 shares of the company’s stock worth $32,902,000 after buying an additional 332,054 shares during the period. Finally, Financial Counselors Inc. grew its stake in shares of Fastenal by 4.9% in the fourth quarter. Financial Counselors Inc. now owns 6,880 shares of the company’s stock valued at $446,000 after buying an additional 324 shares in the last quarter. Hedge funds and other institutional investors own 81.38% of the company’s stock.

Fastenal Price Performance

FAST stock opened at $68.48 on Thursday. The business’s 50-day moving average is $73.70 and its two-hundred day moving average is $66.20. The company has a debt-to-equity ratio of 0.06, a current ratio of 4.83 and a quick ratio of 2.49. The firm has a market capitalization of $39.19 billion, a P/E ratio of 33.90, a P/E/G ratio of 3.62 and a beta of 1.05. Fastenal has a 1 year low of $52.28 and a 1 year high of $79.04.

Fastenal (NASDAQ:FAST) last released its earnings results on Thursday, April 11th. The company reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.01). Fastenal had a return on equity of 33.98% and a net margin of 15.68%. The firm had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.91 billion. During the same quarter in the previous year, the company posted $0.52 earnings per share. The firm’s quarterly revenue was up 1.9% on a year-over-year basis. Analysts anticipate that Fastenal will post 2.13 earnings per share for the current fiscal year.

Fastenal Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 23rd. Stockholders of record on Thursday, April 25th will be issued a $0.39 dividend. The ex-dividend date of this dividend is Wednesday, April 24th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.28%. Fastenal’s payout ratio is 77.23%.

Insider Transactions at Fastenal

In related news, Director Reyne K. Wisecup sold 34,042 shares of the stock in a transaction on Friday, January 19th. The stock was sold at an average price of $68.48, for a total value of $2,331,196.16. Following the transaction, the director now owns 20,000 shares of the company’s stock, valued at $1,369,600. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Anthony Paul Broersma sold 5,586 shares of the business’s stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $69.34, for a total transaction of $387,333.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Reyne K. Wisecup sold 34,042 shares of the stock in a transaction on Friday, January 19th. The shares were sold at an average price of $68.48, for a total transaction of $2,331,196.16. Following the completion of the transaction, the director now directly owns 20,000 shares in the company, valued at $1,369,600. The disclosure for this sale can be found here. In the last three months, insiders sold 105,682 shares of company stock valued at $7,375,853. Insiders own 0.41% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on FAST shares. HSBC increased their target price on Fastenal from $59.00 to $64.00 and gave the stock a “hold” rating in a research note on Monday. Robert W. Baird reduced their price target on shares of Fastenal from $77.00 to $71.00 and set a “neutral” rating on the stock in a research report on Friday, April 12th. Loop Capital lowered their price objective on shares of Fastenal from $71.00 to $66.00 and set a “hold” rating for the company in a research note on Monday. Finally, Stifel Nicolaus upped their target price on shares of Fastenal from $75.00 to $85.00 and gave the stock a “buy” rating in a research note on Monday, March 18th. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $67.67.

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.