Retireful LLC Invests $769,000 in Fastenal Company $FAST

Retireful LLC acquired a new stake in shares of Fastenal Company (NASDAQ:FAST) in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 15,675 shares of the company’s stock, valued at approximately $769,000.

Several other institutional investors and hedge funds have also made changes to their positions in FAST. Riverview Trust Co increased its stake in Fastenal by 100.0% in the 2nd quarter. Riverview Trust Co now owns 584 shares of the company’s stock worth $25,000 after buying an additional 292 shares during the period. Hilltop National Bank bought a new position in Fastenal in the 2nd quarter worth about $27,000. Private Wealth Management Group LLC increased its position in shares of Fastenal by 111.9% during the second quarter. Private Wealth Management Group LLC now owns 642 shares of the company’s stock worth $27,000 after acquiring an additional 339 shares during the period. Twin Peaks Wealth Advisors LLC bought a new stake in shares of Fastenal during the second quarter valued at approximately $27,000. Finally, Armstrong Advisory Group Inc. boosted its holdings in shares of Fastenal by 100.0% in the second quarter. Armstrong Advisory Group Inc. now owns 696 shares of the company’s stock valued at $29,000 after purchasing an additional 348 shares during the period. 81.38% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director Hsenghung Sam Hsu bought 1,000 shares of the company’s stock in a transaction on Thursday, November 13th. The shares were bought at an average price of $49.58 per share, with a total value of $49,580.00. Following the transaction, the director owned 10,000 shares in the company, valued at approximately $495,800. This trade represents a 11.11% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Sarah N. Nielsen purchased 1,000 shares of the firm’s stock in a transaction on Wednesday, November 19th. The stock was bought at an average cost of $39.60 per share, with a total value of $39,600.00. Following the acquisition, the director owned 5,000 shares of the company’s stock, valued at approximately $198,000. The trade was a 25.00% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have purchased a total of 3,000 shares of company stock worth $131,630 over the last ninety days. 0.37% of the stock is currently owned by corporate insiders.

Fastenal Stock Down 0.6%

NASDAQ:FAST opened at $41.56 on Monday. The company’s 50-day simple moving average is $41.26 and its 200-day simple moving average is $44.45. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.19 and a current ratio of 4.26. Fastenal Company has a fifty-two week low of $35.31 and a fifty-two week high of $50.63. The stock has a market capitalization of $47.71 billion, a P/E ratio of 38.84, a P/E/G ratio of 3.32 and a beta of 0.89.

Fastenal (NASDAQ:FAST) last posted its earnings results on Tuesday, October 14th. The company reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.01). Fastenal had a net margin of 15.34% and a return on equity of 32.69%. The firm had revenue of $2.13 billion for the quarter, compared to analysts’ expectations of $2.13 billion. During the same period in the previous year, the company earned $0.26 EPS. The company’s revenue was up 11.7% on a year-over-year basis. On average, equities analysts anticipate that Fastenal Company will post 2.15 earnings per share for the current fiscal year.

Fastenal Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 25th. Investors of record on Tuesday, October 28th were paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 2.1%. The ex-dividend date was Tuesday, October 28th. Fastenal’s payout ratio is 82.24%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Barclays reduced their price objective on Fastenal from $45.00 to $44.00 and set an “equal weight” rating on the stock in a report on Thursday, November 13th. Robert W. Baird dropped their target price on shares of Fastenal from $53.00 to $49.00 and set an “outperform” rating on the stock in a report on Tuesday, October 14th. Wolfe Research raised shares of Fastenal from an “underperform” rating to a “peer perform” rating and set a $43.00 target price on the stock in a research report on Thursday, November 13th. Sanford C. Bernstein assumed coverage on shares of Fastenal in a research report on Tuesday, November 11th. They issued an “underperform” rating and a $38.00 price target for the company. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Fastenal in a report on Monday, December 22nd. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $48.73.

About Fastenal

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.