Fastenal (NASDAQ:FAST) Stock Position Raised by Simplicity Solutions LLC

Simplicity Solutions LLC lifted its stake in shares of Fastenal (NASDAQ:FAST) by 6.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,014 shares of the company’s stock after acquiring an additional 458 shares during the quarter. Simplicity Solutions LLC’s holdings in Fastenal were worth $519,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Graypoint LLC boosted its position in shares of Fastenal by 16.0% in the fourth quarter. Graypoint LLC now owns 7,472 shares of the company’s stock worth $484,000 after buying an additional 1,030 shares during the period. Koshinski Asset Management Inc. boosted its position in shares of Fastenal by 3.8% in the fourth quarter. Koshinski Asset Management Inc. now owns 5,075 shares of the company’s stock worth $329,000 after buying an additional 186 shares during the period. NewEdge Wealth LLC boosted its position in shares of Fastenal by 2.9% in the fourth quarter. NewEdge Wealth LLC now owns 64,396 shares of the company’s stock worth $4,171,000 after buying an additional 1,797 shares during the period. Hartford Financial Management Inc. boosted its position in shares of Fastenal by 46.9% in the fourth quarter. Hartford Financial Management Inc. now owns 479 shares of the company’s stock worth $31,000 after buying an additional 153 shares during the period. Finally, Valeo Financial Advisors LLC boosted its position in shares of Fastenal by 3.7% in the fourth quarter. Valeo Financial Advisors LLC now owns 8,139 shares of the company’s stock worth $527,000 after buying an additional 294 shares during the period. 81.38% of the stock is owned by institutional investors.

Fastenal Price Performance

NASDAQ FAST opened at $67.50 on Friday. Fastenal has a fifty-two week low of $52.28 and a fifty-two week high of $79.04. The stock’s 50-day moving average is $73.67 and its two-hundred day moving average is $66.21. 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 cap of $38.63 billion, a P/E ratio of 33.42, a price-to-earnings-growth ratio of 3.59 and a beta of 1.05.

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

Fastenal Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 23rd. Shareholders of record on Thursday, April 25th will be issued a dividend of $0.39 per share. The ex-dividend date is Wednesday, April 24th. This represents a $1.56 annualized dividend and a yield of 2.31%. Fastenal’s dividend payout ratio (DPR) is currently 77.23%.

Analysts Set New Price Targets

FAST has been the subject of several recent analyst reports. HSBC raised their target price on Fastenal from $59.00 to $64.00 and gave the stock a “hold” rating in a research report on Monday. Robert W. Baird cut their price objective on Fastenal from $77.00 to $71.00 and set a “neutral” rating for the company in a report on Friday, April 12th. Loop Capital cut their price objective on Fastenal from $71.00 to $66.00 and set a “hold” rating for the company in a report on Monday. Finally, Stifel Nicolaus increased their price objective on Fastenal from $75.00 to $85.00 and gave the stock a “buy” rating in a report on Monday, March 18th. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, Fastenal presently has a consensus rating of “Hold” and an average target price of $67.67.

Insider Buying and Selling at Fastenal

In other Fastenal news, VP Charles S. Miller sold 11,076 shares of the firm’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $75.16, for a total transaction of $832,472.16. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Fastenal news, Director Daniel L. Johnson acquired 3,350 shares of the company’s stock in a transaction dated Wednesday, April 17th. The shares were acquired at an average cost of $68.38 per share, for a total transaction of $229,073.00. Following the completion of the purchase, the director now owns 10,595 shares of the company’s stock, valued at approximately $724,486.10. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Charles S. Miller sold 11,076 shares of Fastenal stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $75.16, for a total value of $832,472.16. The disclosure for this sale can be found here. Insiders have sold a total of 71,640 shares of company stock worth $5,044,657 over the last three months. Corporate insiders own 0.41% of the company’s stock.

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.