Ritholtz Wealth Management Purchases 102,404 Shares of Fastenal Company $FAST

Ritholtz Wealth Management boosted its position in Fastenal Company (NASDAQ:FAST) by 212.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 150,568 shares of the company’s stock after buying an additional 102,404 shares during the quarter. Ritholtz Wealth Management’s holdings in Fastenal were worth $7,384,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the company. Riverview Trust Co increased its holdings in Fastenal by 100.0% in the 2nd quarter. Riverview Trust Co now owns 584 shares of the company’s stock worth $25,000 after acquiring an additional 292 shares during the last quarter. Hilltop National Bank purchased a new stake in Fastenal during the second quarter valued at about $27,000. Private Wealth Management Group LLC boosted its position in Fastenal by 111.9% during the second quarter. Private Wealth Management Group LLC now owns 642 shares of the company’s stock worth $27,000 after purchasing an additional 339 shares during the period. Twin Peaks Wealth Advisors LLC purchased a new position in shares of Fastenal in the second quarter worth about $27,000. Finally, Armstrong Advisory Group Inc. increased its stake in shares of Fastenal by 100.0% in the second quarter. Armstrong Advisory Group Inc. now owns 696 shares of the company’s stock worth $29,000 after purchasing an additional 348 shares in the last quarter. Hedge funds and other institutional investors own 81.38% of the company’s stock.

Insider Transactions at Fastenal

In related news, Director Sarah N. Nielsen bought 1,000 shares of the stock in a transaction that occurred on Wednesday, November 19th. The shares were acquired at an average cost of $39.60 per share, with a total value of $39,600.00. Following the completion of the purchase, the director directly owned 5,000 shares of the company’s stock, valued at $198,000. This trade represents a 25.00% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Hsenghung Sam Hsu bought 1,000 shares of the company’s stock in a transaction on Thursday, November 13th. The shares were bought at an average price of $49.58 per share, with a total value of $49,580.00. Following the completion of the transaction, the director owned 10,000 shares of the company’s stock, valued at $495,800. The trade was a 11.11% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Company insiders own 0.37% of the company’s stock.

Fastenal Trading Up 2.6%

Fastenal stock opened at $43.53 on Friday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.19 and a current ratio of 4.26. Fastenal Company has a fifty-two week low of $35.31 and a fifty-two week high of $50.63. The stock has a market cap of $49.97 billion, a P/E ratio of 40.68, a PEG ratio of 3.04 and a beta of 0.90. The firm’s fifty day moving average price is $41.11 and its 200-day moving average price is $44.39.

Fastenal (NASDAQ:FAST) last posted its earnings results on Tuesday, October 14th. The company reported $0.29 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.01). The business had revenue of $2.13 billion for the quarter, compared to analysts’ expectations of $2.13 billion. Fastenal had a return on equity of 32.69% and a net margin of 15.34%.Fastenal’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.26 earnings per share. Equities research analysts forecast that Fastenal Company will post 2.15 earnings per share for the current fiscal year.

Analyst Ratings Changes

FAST has been the topic of a number of recent research reports. Sanford C. Bernstein restated an “underperform” rating on shares of Fastenal in a research note on Monday, December 29th. Barclays dropped their target price on Fastenal from $45.00 to $44.00 and set an “equal weight” rating on the stock in a research report on Thursday, November 13th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Fastenal in a report on Monday, December 29th. Wolfe Research upgraded Fastenal from an “underperform” rating to a “peer perform” rating and set a $43.00 price objective on the stock in a research note on Thursday, November 13th. Finally, UBS Group upgraded Fastenal from a “hold” rating to a “buy” rating and raised their target price for the stock from $45.00 to $52.00 in a research note on Monday, December 15th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $48.73.

Fastenal Company Profile

Fastenal (NASDAQ: FAST) is a wholesale distributor of industrial and construction supplies, best known for its broad assortment of fasteners such as bolts, nuts, screws and anchors. Founded in Winona, Minnesota, Fastenal has grown from a regional supplier into a national and international distributor serving a wide range of end markets, including manufacturing, construction, maintenance, repair and operations (MRO), and government customers. The company is publicly traded and operates through a network of locally staffed branches combined with national distribution capabilities.

Product offerings extend beyond fasteners to include tools, safety and personal protective equipment, power transmission components, cutting and welding supplies, janitorial and material handling items, and other industrial consumables.