Private Advisor Group LLC Has $6.40 Million Stock Position in Fastenal (NASDAQ:FAST)

Private Advisor Group LLC lowered its holdings in Fastenal (NASDAQ:FAST) by 0.3% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 89,622 shares of the company’s stock after selling 253 shares during the quarter. Private Advisor Group LLC’s holdings in Fastenal were worth $6,401,000 at the end of the most recent quarter.

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

Fastenal Trading Up 0.3 %

Shares of FAST opened at $75.85 on Friday. The stock has a fifty day moving average price of $70.74 and a two-hundred day moving average price of $68.04. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.29 and a current ratio of 4.39. Fastenal has a 52-week low of $57.01 and a 52-week high of $79.04. The company has a market cap of $43.43 billion, a price-to-earnings ratio of 37.74, a PEG ratio of 4.13 and a beta of 1.01.

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. Fastenal had a return on equity of 33.54% and a net margin of 15.54%. The firm had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.90 billion. During the same quarter in the previous year, the company posted $0.52 EPS. The business’s revenue for the quarter was up 3.5% compared to the same quarter last year. Analysts predict that Fastenal will post 2.04 EPS for the current fiscal year.

Fastenal Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Friday, October 25th will be given a $0.39 dividend. The ex-dividend date is Friday, October 25th. This represents a $1.56 annualized dividend and a yield of 2.06%. Fastenal’s payout ratio is 77.61%.

Insider Transactions at Fastenal

In other news, insider William Joseph Drazkowski sold 16,362 shares of the business’s stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $77.65, for a total transaction of $1,270,509.30. Following the completion of the sale, the insider now owns 5,997 shares in the company, valued at $465,667.05. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, CEO Daniel L. Florness sold 50,000 shares of the business’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $69.68, for a total transaction of $3,484,000.00. Following the completion of the sale, the chief executive officer now owns 286,018 shares in the company, valued at $19,929,734.24. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider William Joseph Drazkowski sold 16,362 shares of Fastenal stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $77.65, for a total value of $1,270,509.30. Following the sale, the insider now directly owns 5,997 shares of the company’s stock, valued at approximately $465,667.05. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 179,373 shares of company stock worth $13,029,308 over the last 90 days. 0.41% of the stock is owned by insiders.

Analysts Set New Price Targets

Several brokerages have recently weighed in on FAST. Jefferies Financial Group decreased their price objective on Fastenal from $74.00 to $65.00 and set a “hold” rating on the stock in a report on Thursday, July 11th. JPMorgan Chase & Co. lifted their price objective on Fastenal from $57.00 to $63.00 and gave the stock a “neutral” rating in a report on Thursday, October 10th. Robert W. Baird lifted their price objective on Fastenal from $67.00 to $80.00 and gave the stock a “neutral” rating in a report on Monday, October 14th. Stifel Nicolaus reissued a “buy” rating and set a $86.00 price objective (up previously from $80.00) on shares of Fastenal in a report on Monday, October 14th. Finally, Bank of America initiated coverage on Fastenal in a research note on Monday, October 7th. They issued a “buy” rating and a $85.00 price target on the stock. Seven investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $73.33.

Fastenal Company 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.