Crestwood Advisors Group LLC Increases Holdings in Fastenal (NASDAQ:FAST)

Crestwood Advisors Group LLC raised its holdings in shares of Fastenal (NASDAQ:FAST) by 15.0% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 6,068 shares of the company’s stock after acquiring an additional 792 shares during the quarter. Crestwood Advisors Group LLC’s holdings in Fastenal were worth $433,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the business. Thurston Springer Miller Herd & Titak Inc. boosted its holdings in Fastenal by 5.8% in the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,607 shares of the company’s stock valued at $186,000 after purchasing an additional 143 shares in the last quarter. Compass Ion Advisors LLC boosted its holdings in shares of Fastenal by 1.5% in the 3rd quarter. Compass Ion Advisors LLC now owns 9,927 shares of the company’s stock valued at $709,000 after buying an additional 146 shares in the last quarter. Penobscot Investment Management Company Inc. grew its position in shares of Fastenal by 1.1% in the 1st quarter. Penobscot Investment Management Company Inc. now owns 13,350 shares of the company’s stock valued at $1,030,000 after buying an additional 150 shares during the last quarter. Sara Bay Financial raised its stake in Fastenal by 1.3% during the 2nd quarter. Sara Bay Financial now owns 11,872 shares of the company’s stock worth $746,000 after acquiring an additional 155 shares in the last quarter. Finally, Trueblood Wealth Management LLC lifted its position in Fastenal by 1.4% in the second quarter. Trueblood Wealth Management LLC now owns 11,314 shares of the company’s stock valued at $711,000 after acquiring an additional 156 shares during the last quarter. Hedge funds and other institutional investors own 81.38% of the company’s stock.

Wall Street Analysts Forecast Growth

FAST has been the topic of several research reports. Morgan Stanley raised their price objective on Fastenal from $72.00 to $76.00 and gave the stock an “equal weight” rating in a report on Monday, October 14th. Stephens raised their price target on Fastenal from $56.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Monday, October 14th. JPMorgan Chase & Co. boosted 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. Robert W. Baird raised their target price on shares of Fastenal from $67.00 to $80.00 and gave the stock a “neutral” rating in a research report on Monday, October 14th. Finally, Jefferies Financial Group reduced 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. Seven equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Fastenal has an average rating of “Hold” and an average target price of $73.33.

Insiders Place Their Bets

In other Fastenal news, VP John Lewis Soderberg sold 488 shares of the business’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $76.32, for a total transaction of $37,244.16. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CEO Daniel L. Florness sold 45,744 shares of Fastenal stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $68.14, for a total transaction of $3,116,996.16. Following the completion of the transaction, the chief executive officer now directly owns 286,018 shares of the company’s stock, valued at approximately $19,489,266.52. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP John Lewis Soderberg sold 488 shares of the company’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $76.32, for a total value of $37,244.16. The disclosure for this sale can be found here. Over the last quarter, insiders sold 190,261 shares of company stock worth $13,874,979. 0.41% of the stock is owned by corporate insiders.

Fastenal Stock Up 7.0 %

FAST stock opened at $83.57 on Thursday. The stock has a market capitalization of $47.88 billion, a PE ratio of 41.58, a price-to-earnings-growth ratio of 4.58 and a beta of 0.99. The company has a fifty day moving average of $72.67 and a 200-day moving average of $68.48. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.29 and a current ratio of 4.40. Fastenal has a one year low of $58.28 and a one year high of $83.80.

Fastenal (NASDAQ:FAST) last announced its quarterly earnings data on Friday, October 11th. The company reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.01. Fastenal had a net margin of 15.44% and a return on equity of 33.30%. The firm had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.90 billion. During the same quarter last year, the firm earned $0.52 earnings per share. The firm’s revenue was up 3.5% compared to the same quarter last year. As a group, analysts expect that Fastenal will post 2.03 EPS for the current year.

Fastenal Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Investors 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 1.87%. The ex-dividend date of this dividend is Friday, October 25th. Fastenal’s dividend payout ratio is presently 77.61%.

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.