TrinityPoint Wealth LLC Buys 274 Shares of Fastenal (NASDAQ:FAST)

TrinityPoint Wealth LLC boosted its stake in Fastenal (NASDAQ:FAST) by 2.3% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 12,113 shares of the company’s stock after acquiring an additional 274 shares during the period. TrinityPoint Wealth LLC’s holdings in Fastenal were worth $865,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Thrivent Financial for Lutherans lifted its position in shares of Fastenal by 1.1% during the 3rd quarter. Thrivent Financial for Lutherans now owns 4,469,636 shares of the company’s stock valued at $319,221,000 after buying an additional 48,977 shares during the last quarter. Accredited Investors Inc. raised its stake in Fastenal by 24.1% in the 3rd quarter. Accredited Investors Inc. now owns 18,434 shares of the company’s stock valued at $1,317,000 after acquiring an additional 3,577 shares during the period. Comgest Global Investors S.A.S. lifted its holdings in Fastenal by 73.0% during the third quarter. Comgest Global Investors S.A.S. now owns 87,081 shares of the company’s stock valued at $6,219,000 after purchasing an additional 36,742 shares during the last quarter. KPP Advisory Services LLC boosted its position in Fastenal by 5.1% during the third quarter. KPP Advisory Services LLC now owns 7,348 shares of the company’s stock worth $525,000 after purchasing an additional 355 shares during the period. Finally, Natixis Advisors LLC increased its stake in shares of Fastenal by 21.7% in the third quarter. Natixis Advisors LLC now owns 205,720 shares of the company’s stock worth $14,693,000 after purchasing an additional 36,673 shares in the last quarter. 81.38% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Fastenal

In other Fastenal 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 transaction, the insider now directly owns 5,997 shares of the company’s stock, valued at approximately $465,667.05. This trade represents a 73.18 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP John Lewis Soderberg sold 488 shares of the business’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 transaction of $37,244.16. The disclosure for this sale can be found here. Insiders have sold 254,033 shares of company stock worth $19,240,434 over the last 90 days. Corporate insiders own 0.41% of the company’s stock.

Fastenal Stock Down 0.1 %

Shares of NASDAQ FAST opened at $81.80 on Tuesday. The company has a current ratio of 4.40, a quick ratio of 2.29 and a debt-to-equity ratio of 0.03. The business has a 50-day moving average of $75.23 and a 200-day moving average of $69.33. The firm has a market capitalization of $46.86 billion, a price-to-earnings ratio of 40.70, a PEG ratio of 4.80 and a beta of 0.99. Fastenal has a 12 month low of $59.47 and a 12 month high of $84.88.

Fastenal (NASDAQ:FAST) last released its quarterly earnings results on Friday, October 11th. The company reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.01. The business had revenue of $1.91 billion during the quarter, compared to analysts’ expectations of $1.90 billion. Fastenal had a net margin of 15.44% and a return on equity of 33.30%. The business’s quarterly revenue was up 3.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.52 EPS. Sell-side analysts expect that Fastenal will post 2.03 earnings per share for the current fiscal year.

Fastenal Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Friday, October 25th will be paid a $0.39 dividend. The ex-dividend date of this dividend is Friday, October 25th. This represents a $1.56 dividend on an annualized basis and a yield of 1.91%. Fastenal’s dividend payout ratio is presently 77.61%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Robert W. Baird raised their price objective on shares of Fastenal from $67.00 to $80.00 and gave the stock a “neutral” rating in a report on Monday, October 14th. JPMorgan Chase & Co. lifted 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. Morgan Stanley increased their price objective on Fastenal from $72.00 to $76.00 and gave the stock an “equal weight” rating in a report on Monday, October 14th. UBS Group started coverage on Fastenal in a report on Wednesday, November 13th. They set a “neutral” rating and a $88.00 target price for the company. Finally, Stephens increased their price target on shares of Fastenal from $56.00 to $75.00 and gave the stock an “equal weight” rating in a report on Monday, October 14th. Eight equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $74.80.

About Fastenal

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.