Beverly Hills Private Wealth LLC purchased a new stake in Fastenal Company (NASDAQ:FAST – Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 15,881 shares of the company’s stock, valued at approximately $763,000.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Evergreen Advisors LLC bought a new position in shares of Fastenal in the 1st quarter valued at about $26,000. Palladiem LLC acquired a new stake in shares of Fastenal in the fourth quarter valued at about $25,000. Elyxium Wealth LLC acquired a new stake in shares of Fastenal in the fourth quarter valued at about $25,000. MV Capital Management Inc. bought a new stake in Fastenal during the fourth quarter worth about $29,000. Finally, Measured Wealth Private Client Group LLC bought a new stake in Fastenal during the third quarter worth about $36,000. 81.38% of the stock is owned by institutional investors.
Analyst Ratings Changes
A number of research firms have weighed in on FAST. Robert W. Baird set a $54.00 price target on Fastenal in a research note on Friday, August 7th. Morgan Stanley upped their price objective on Fastenal from $48.00 to $52.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 16th. Rothschild & Co Redburn set a $55.00 price objective on Fastenal and gave the stock a “buy” rating in a research note on Monday, July 13th. Wolfe Research reissued an “underperform” rating and issued a $47.00 price objective on shares of Fastenal in a report on Thursday, July 9th. Finally, Barclays decreased their target price on shares of Fastenal from $47.00 to $46.00 and set an “equal weight” rating for the company in a research note on Thursday, July 16th. Five investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $49.17.
Fastenal Price Performance
Shares of NASDAQ FAST opened at $51.02 on Monday. The business’s 50 day moving average price is $47.47 and its two-hundred day moving average price is $46.12. The company has a market cap of $58.55 billion, a PE ratio of 43.24, a price-to-earnings-growth ratio of 3.18 and a beta of 0.72. The company has a quick ratio of 2.21, a current ratio of 4.18 and a debt-to-equity ratio of 0.01. Fastenal Company has a twelve month low of $38.97 and a twelve month high of $52.92.
Fastenal (NASDAQ:FAST – Get Free Report) last released its quarterly earnings data on Tuesday, July 14th. The company reported $0.33 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.33. Fastenal had a return on equity of 34.03% and a net margin of 15.45%.The company had revenue of $2.39 billion during the quarter, compared to analysts’ expectations of $2.34 billion. During the same period last year, the firm posted $0.29 earnings per share. The business’s revenue was up 14.7% on a year-over-year basis. On average, analysts predict that Fastenal Company will post 1.26 EPS for the current year.
Fastenal Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 25th. Investors of record on Tuesday, July 28th will be paid a $0.26 dividend. This is a boost from Fastenal’s previous quarterly dividend of $0.24. The ex-dividend date is Tuesday, July 28th. This represents a $1.04 dividend on an annualized basis and a yield of 2.0%. Fastenal’s dividend payout ratio (DPR) is currently 88.14%.
Insiders Place Their Bets
In other Fastenal news, Director Rita J. Heise sold 34,964 shares of the firm’s stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $50.05, for a total transaction of $1,749,948.20. Following the completion of the sale, the director owned 20,000 shares of the company’s stock, valued at $1,001,000. This trade represents a 63.61% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Michael J. Ancius sold 3,000 shares of Fastenal stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $49.00, for a total transaction of $147,000.00. Following the transaction, the director directly owned 58,690 shares of the company’s stock, valued at approximately $2,875,810. This trade represents a 4.86% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.28% of the stock is currently owned by corporate insiders.
Fastenal 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.
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