ORG Wealth Partners LLC Makes New Investment in Fastenal (NASDAQ:FAST)

ORG Wealth Partners LLC acquired a new stake in Fastenal (NASDAQ:FAST) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 5,808 shares of the company’s stock, valued at approximately $415,000.

Several other institutional investors have also modified their holdings of the company. V Square Quantitative Management LLC lifted its stake in Fastenal by 34.7% during the fourth quarter. V Square Quantitative Management LLC now owns 9,807 shares of the company’s stock worth $635,000 after purchasing an additional 2,529 shares during the last quarter. American Trust purchased a new stake in shares of Fastenal during the 4th quarter worth approximately $213,000. Virtu Financial LLC purchased a new stake in shares of Fastenal during the 4th quarter worth approximately $1,078,000. Syon Capital LLC acquired a new position in shares of Fastenal in the 4th quarter valued at $315,000. Finally, American International Group Inc. grew its position in shares of Fastenal by 0.4% in the 4th quarter. American International Group Inc. now owns 196,683 shares of the company’s stock valued at $12,739,000 after buying an additional 743 shares during the last quarter. 81.38% of the stock is owned by hedge funds and other institutional investors.

Fastenal Stock Up 9.8 %

FAST stock opened at $76.82 on Monday. Fastenal has a 52 week low of $56.41 and a 52 week high of $79.04. The company has a current ratio of 4.39, a quick ratio of 2.29 and a debt-to-equity ratio of 0.04. The company has a market cap of $43.98 billion, a P/E ratio of 38.22, a P/E/G ratio of 4.13 and a beta of 1.01. The company’s 50-day moving average price is $68.77 and its 200 day moving average price is $67.89.

Fastenal (NASDAQ:FAST) last posted its earnings results on Friday, October 11th. The company reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.01. The company had revenue of $1.91 billion for 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%. Fastenal’s quarterly revenue was up 3.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.52 earnings per share. On average, research analysts expect that Fastenal will post 2.04 earnings per share for the current fiscal year.

Fastenal Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Friday, October 25th will be given a dividend of $0.39 per share. The ex-dividend date of this dividend is Friday, October 25th. This represents a $1.56 annualized dividend and a dividend yield of 2.03%. Fastenal’s dividend payout ratio is currently 77.61%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. JPMorgan Chase & Co. upped their target price on Fastenal from $57.00 to $63.00 and gave the company a “neutral” rating in a research report on Thursday. Stephens increased their price objective on Fastenal from $56.00 to $75.00 and gave the company an “equal weight” rating in a report on Monday. Morgan Stanley assumed coverage on shares of Fastenal in a report on Friday, September 6th. They issued an “equal weight” rating and a $72.00 target price on the stock. Robert W. Baird upped their price target on shares of Fastenal from $67.00 to $80.00 and gave the company a “neutral” rating in a research report on Monday. Finally, Stifel Nicolaus reissued a “buy” rating and set a $80.00 price objective (down from $85.00) on shares of Fastenal in a research report on Monday, July 15th. Seven investment 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 stock has a consensus rating of “Hold” and an average price target of $72.22.

Insider Activity at Fastenal

In related news, CEO Daniel L. Florness sold 50,000 shares of the 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 sale, the chief executive officer now owns 286,018 shares of the company’s stock, valued at $19,929,734.24. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Fastenal news, CEO Daniel L. Florness sold 45,744 shares of the 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 transaction, the chief executive officer now owns 286,018 shares of the company’s stock, valued at $19,489,266.52. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Daniel L. Florness sold 50,000 shares of Fastenal stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $69.68, for a total value of $3,484,000.00. Following the completion of the sale, the chief executive officer now directly owns 286,018 shares of the company’s stock, valued at approximately $19,929,734.24. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.41% of the stock is owned by corporate insiders.

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.