Harfst & Associates Inc. Acquires 853 Shares of Fastenal (NASDAQ:FAST)

Harfst & Associates Inc. raised its holdings in Fastenal (NASDAQ:FAST) by 2.4% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 36,786 shares of the company’s stock after buying an additional 853 shares during the quarter. Harfst & Associates Inc.’s holdings in Fastenal were worth $2,627,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Central Valley Advisors LLC bought a new stake in shares of Fastenal in the second quarter valued at about $28,000. MCF Advisors LLC lifted its position in shares of Fastenal by 2,172.2% in the 1st quarter. MCF Advisors LLC now owns 409 shares of the company’s stock worth $32,000 after acquiring an additional 391 shares during the period. Triad Wealth Partners LLC acquired a new stake in shares of Fastenal during the 2nd quarter worth approximately $32,000. Crewe Advisors LLC increased its position in shares of Fastenal by 528.4% during the second quarter. Crewe Advisors LLC now owns 509 shares of the company’s stock valued at $32,000 after purchasing an additional 428 shares during the period. Finally, Moisand Fitzgerald Tamayo LLC increased its position in shares of Fastenal by 1,019.0% during the third quarter. Moisand Fitzgerald Tamayo LLC now owns 470 shares of the company’s stock valued at $34,000 after purchasing an additional 428 shares during the period. 81.38% of the stock is currently owned by institutional investors and hedge funds.

Fastenal Price Performance

Shares of NASDAQ:FAST traded up $0.26 during trading on Friday, reaching $77.90. The stock had a trading volume of 2,705,883 shares, compared to its average volume of 3,365,824. The stock has a market capitalization of $44.60 billion, a PE ratio of 38.76, a P/E/G ratio of 4.13 and a beta of 1.01. The company has a debt-to-equity ratio of 0.04, a current ratio of 4.39 and a quick ratio of 2.29. Fastenal has a 52 week low of $56.41 and a 52 week high of $79.04. The business’s 50-day moving average price is $69.92 and its 200 day moving average price is $68.03.

Fastenal (NASDAQ:FAST) last issued its quarterly earnings data on Friday, October 11th. The company reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.01. The firm had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.90 billion. Fastenal had a return on equity of 33.54% and a net margin of 15.54%. The business’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.52 EPS. As a group, equities analysts predict that Fastenal will post 2.04 earnings per share for the current year.

Fastenal Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Friday, October 25th will be issued a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 2.00%. The ex-dividend date is Friday, October 25th. Fastenal’s dividend payout ratio is currently 77.61%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on FAST shares. Bank of America assumed coverage on shares of Fastenal in a research note on Monday, October 7th. They set a “buy” rating and a $85.00 price target on the stock. Stifel Nicolaus reiterated a “buy” rating and set a $86.00 target price (up from $80.00) on shares of Fastenal in a research report on Monday, October 14th. Jefferies Financial Group dropped their price target on shares of Fastenal from $74.00 to $65.00 and set a “hold” rating for the company in a research report on Thursday, July 11th. Morgan Stanley raised their price target on shares of Fastenal from $72.00 to $76.00 and gave the stock an “equal weight” rating in a research note on Monday, October 14th. Finally, JPMorgan Chase & Co. upped their price objective on Fastenal from $57.00 to $63.00 and gave the company a “neutral” rating in a research note on Thursday, October 10th. Seven analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $73.33.

Insider Buying and Selling at Fastenal

In other news, CEO Daniel L. Florness sold 50,000 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $69.68, for a total transaction of $3,484,000.00. Following the transaction, the chief executive officer now directly owns 286,018 shares in the company, valued at approximately $19,929,734.24. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CAO Sheryl Ann Lisowski sold 13,567 shares of the stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $76.19, for a total value of $1,033,669.73. Following the transaction, the chief accounting officer now directly owns 5,096 shares in the company, valued at $388,264.24. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Daniel L. Florness sold 50,000 shares of the company’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $69.68, for a total transaction of $3,484,000.00. Following the sale, the chief executive officer now owns 286,018 shares of the company’s stock, valued at $19,929,734.24. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 179,373 shares of company stock worth $13,029,308. 0.41% of the stock is currently owned by corporate insiders.

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.