Tidal Investments LLC Purchases 1,599 Shares of Fastenal (NASDAQ:FAST)

Tidal Investments LLC raised its position in shares of Fastenal (NASDAQ:FAST) by 5.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 33,243 shares of the company’s stock after buying an additional 1,599 shares during the period. Tidal Investments LLC’s holdings in Fastenal were worth $2,374,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of FAST. King Luther Capital Management Corp raised its position in Fastenal by 1.6% in the 3rd quarter. King Luther Capital Management Corp now owns 8,664 shares of the company’s stock valued at $619,000 after purchasing an additional 136 shares during the last quarter. Verdence Capital Advisors LLC grew its holdings in shares of Fastenal by 1.9% during the third quarter. Verdence Capital Advisors LLC now owns 7,628 shares of the company’s stock worth $545,000 after purchasing an additional 142 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. increased its stake in shares of Fastenal by 5.8% in the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,607 shares of the company’s stock valued at $186,000 after buying an additional 143 shares in the last quarter. Compass Ion Advisors LLC raised its holdings in shares of Fastenal by 1.5% in the third quarter. Compass Ion Advisors LLC now owns 9,927 shares of the company’s stock valued at $709,000 after buying an additional 146 shares during the last quarter. Finally, Catalina Capital Group LLC lifted its position in Fastenal by 4.5% during the 3rd quarter. Catalina Capital Group LLC now owns 3,359 shares of the company’s stock worth $240,000 after buying an additional 146 shares in the last quarter. Institutional investors own 81.38% of the company’s stock.

Fastenal Stock Down 0.7 %

NASDAQ:FAST opened at $78.47 on Monday. The company has a quick ratio of 2.29, a current ratio of 4.40 and a debt-to-equity ratio of 0.03. Fastenal has a 12-month low of $61.33 and a 12-month high of $84.88. The stock’s fifty day simple moving average is $79.47 and its 200-day simple moving average is $71.37. The firm has a market capitalization of $44.95 billion, a P/E ratio of 39.04, a P/E/G ratio of 4.69 and a beta of 1.00.

Fastenal (NASDAQ:FAST) last released its earnings results on Friday, October 11th. The company reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.01. The firm had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.90 billion. Fastenal had a return on equity of 33.30% and a net margin of 15.44%. The company’s quarterly revenue was up 3.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.52 earnings per share. Equities research analysts expect that Fastenal will post 2.03 earnings per share for the current year.

Fastenal Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Friday, October 25th were paid a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 1.99%. The ex-dividend date was Friday, October 25th. Fastenal’s payout ratio is 77.61%.

Insider Activity at Fastenal

In other Fastenal news, CAO Sheryl Ann Lisowski sold 13,567 shares of the business’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $76.19, for a total value of $1,033,669.73. Following the completion of the transaction, the chief accounting officer now directly owns 5,096 shares of the company’s stock, valued at approximately $388,264.24. The trade was a 72.69 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Daniel L. Johnson sold 8,474 shares of the stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $83.36, for a total value of $706,392.64. Following the completion of the sale, the director now owns 10,595 shares of the company’s stock, valued at $883,199.20. This trade represents a 44.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 158,289 shares of company stock worth $12,639,438. 0.41% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research firms have weighed in on FAST. Stifel Nicolaus cut shares of Fastenal from a “buy” rating to a “hold” rating and set a $86.00 price objective for the company. in a research report on Wednesday, December 11th. JPMorgan Chase & Co. raised their price target on shares of Fastenal from $57.00 to $63.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. UBS Group began coverage on Fastenal in a report on Wednesday, November 13th. They set a “neutral” rating and a $88.00 price objective on the stock. Morgan Stanley lifted their target price on Fastenal from $72.00 to $76.00 and gave the company an “equal weight” rating in a research note on Monday, October 14th. Finally, Hsbc Global Res lowered Fastenal from a “hold” rating to a “moderate sell” rating in a research note on Wednesday, December 11th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, Fastenal currently has an average rating of “Hold” and a consensus price target of $77.40.

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.