Independent Advisor Alliance Buys 21,698 Shares of Fastenal Company $FAST

Independent Advisor Alliance lifted its stake in shares of Fastenal Company (NASDAQ:FAST) by 47.8% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 67,056 shares of the company’s stock after buying an additional 21,698 shares during the quarter. Independent Advisor Alliance’s holdings in Fastenal were worth $3,288,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Hilltop National Bank bought a new stake in shares of Fastenal during the second quarter worth approximately $27,000. Private Wealth Management Group LLC increased its stake 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 purchasing an additional 339 shares during the period. Twin Peaks Wealth Advisors LLC acquired a new stake in Fastenal during the 2nd quarter worth approximately $27,000. NewSquare Capital LLC boosted its stake in Fastenal by 197.5% in the 2nd quarter. NewSquare Capital LLC now owns 714 shares of the company’s stock valued at $30,000 after purchasing an additional 474 shares during the period. Finally, MV Capital Management Inc. boosted its stake in Fastenal by 96.1% in the 2nd quarter. MV Capital Management Inc. now owns 712 shares of the company’s stock valued at $30,000 after purchasing an additional 349 shares during the period. Institutional investors and hedge funds own 81.38% of the company’s stock.

Insider Buying and Selling

In other Fastenal news, Director Hsenghung Sam Hsu purchased 1,000 shares of the business’s stock in a transaction dated Thursday, November 13th. The shares were bought at an average price of $49.58 per share, for a total transaction of $49,580.00. Following the completion of the acquisition, 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 purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Sarah N. Nielsen purchased 1,000 shares of Fastenal stock in a transaction on Wednesday, November 19th. The stock was bought at an average price of $39.60 per share, for a total transaction of $39,600.00. Following the transaction, the director directly owned 5,000 shares in the company, 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. 0.37% of the stock is owned by corporate insiders.

Fastenal Stock Performance

Shares of NASDAQ:FAST opened at $43.36 on Monday. Fastenal Company has a 1 year low of $35.31 and a 1 year high of $50.63. The stock has a market capitalization of $49.78 billion, a price-to-earnings ratio of 39.42, a price-to-earnings-growth ratio of 2.76 and a beta of 0.89. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.85 and a quick ratio of 2.41. The company’s 50 day simple moving average is $41.86 and its 200 day simple moving average is $44.43.

Fastenal (NASDAQ:FAST) last released its earnings results on Tuesday, January 20th. The company reported $0.26 earnings per share for the quarter, hitting the consensus estimate of $0.26. Fastenal had a return on equity of 32.83% and a net margin of 15.35%.The firm had revenue of $2.03 billion during the quarter, compared to analysts’ expectations of $2.04 billion. During the same period in the prior year, the company earned $0.46 earnings per share. The company’s quarterly revenue was up 11.1% on a year-over-year basis. As a group, research analysts predict that Fastenal Company will post 2.15 EPS for the current fiscal year.

Fastenal Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 26th. Shareholders of record on Thursday, January 29th will be given a $0.24 dividend. This is a boost from Fastenal’s previous quarterly dividend of $0.22. This represents a $0.96 annualized dividend and a yield of 2.2%. The ex-dividend date is Thursday, January 29th. Fastenal’s dividend payout ratio is 87.27%.

Analyst Upgrades and Downgrades

FAST has been the subject of a number of recent research reports. Jefferies Financial Group set a $52.00 target price on shares of Fastenal and gave the company a “buy” rating in a research report on Monday, December 15th. Barclays set a $43.00 price objective on shares of Fastenal and gave the company an “equal weight” rating in a report on Wednesday, January 21st. Sanford C. Bernstein reaffirmed an “underperform” rating on shares of Fastenal in a report on Wednesday, January 21st. Wolfe Research cut their price target on Fastenal from $43.00 to $42.00 and set an “underperform” rating for the company in a research note on Wednesday, January 21st. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Fastenal in a research note on Monday, December 29th. Four analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Fastenal presently has an average rating of “Hold” and a consensus price target of $48.00.

Fastenal Company Profile

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.