RWA Wealth Partners LLC Makes New Investment in Fastenal (NASDAQ:FAST)

RWA Wealth Partners LLC bought a new position in Fastenal (NASDAQ:FAST) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 3,187 shares of the company’s stock, valued at approximately $206,000.

A number of other large investors have also recently bought and sold shares of the business. Hartford Financial Management Inc. boosted its position in shares of Fastenal by 46.9% during 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. Empirical Asset Management LLC boosted its position in shares of Fastenal by 2.4% during the fourth quarter. Empirical Asset Management LLC now owns 7,212 shares of the company’s stock worth $467,000 after buying an additional 171 shares during the period. Berkshire Bank boosted its position in shares of Fastenal by 3.1% during the third quarter. Berkshire Bank now owns 5,777 shares of the company’s stock worth $316,000 after buying an additional 174 shares during the period. OmniStar Financial Group Inc. boosted its position in shares of Fastenal by 1.1% during the third quarter. OmniStar Financial Group Inc. now owns 15,960 shares of the company’s stock worth $873,000 after buying an additional 174 shares during the period. Finally, Koshinski Asset Management Inc. boosted its position in shares of Fastenal by 3.8% during 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. Institutional investors own 81.38% of the company’s stock.

Fastenal Price Performance

NASDAQ FAST opened at $68.17 on Friday. The stock has a market capitalization of $39.03 billion, a P/E ratio of 33.75, a P/E/G ratio of 3.55 and a beta of 1.05. Fastenal has a 1 year low of $52.66 and a 1 year high of $79.04. The business’s fifty day moving average is $73.41 and its two-hundred day moving average is $66.73. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.49 and a current ratio of 4.83.

Fastenal (NASDAQ:FAST) last posted its quarterly earnings results on Thursday, April 11th. The company reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.01). The company had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.91 billion. Fastenal had a net margin of 15.68% and a return on equity of 33.98%. Fastenal’s quarterly revenue was up 1.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.52 EPS. On average, research analysts forecast that Fastenal will post 2.12 earnings per share for the current fiscal year.

Fastenal Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 23rd. Shareholders of record on Thursday, April 25th will be issued a $0.39 dividend. The ex-dividend date is Wednesday, April 24th. This represents a $1.56 annualized dividend and a dividend yield of 2.29%. Fastenal’s dividend payout ratio is currently 77.23%.

Insider Buying and Selling at Fastenal

In other news, Director Daniel L. Johnson bought 3,350 shares of the business’s stock in a transaction on Wednesday, April 17th. The shares were bought at an average cost of $68.38 per share, with a total value of $229,073.00. Following the purchase, the director now directly owns 10,595 shares in the company, valued at $724,486.10. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, Director Daniel L. Johnson bought 3,350 shares of the business’s stock in a transaction on Wednesday, April 17th. The shares were bought at an average cost of $68.38 per share, with a total value of $229,073.00. Following the purchase, the director now directly owns 10,595 shares in the company, valued at $724,486.10. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Anthony Paul Broersma sold 5,586 shares of the business’s stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $69.34, for a total transaction of $387,333.24. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 36,082 shares of company stock valued at $2,584,060. Corporate insiders own 0.41% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Robert W. Baird reduced their price objective on Fastenal from $77.00 to $71.00 and set a “neutral” rating for the company in a research report on Friday, April 12th. HSBC upped their target price on Fastenal from $59.00 to $64.00 and gave the stock a “hold” rating in a research report on Monday, April 15th. Stifel Nicolaus upped their target price on Fastenal from $75.00 to $85.00 and gave the stock a “buy” rating in a research report on Monday, March 18th. Finally, Loop Capital cut their target price on Fastenal from $71.00 to $66.00 and set a “hold” rating for the company in a research report on Monday, April 15th. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $67.67.

Fastenal Profile

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.