Fastenal (NASDAQ:FAST) Shares Acquired by Drive Wealth Management LLC

Drive Wealth Management LLC boosted its position in Fastenal (NASDAQ:FAST) by 5.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,857 shares of the company’s stock after purchasing an additional 267 shares during the period. Drive Wealth Management LLC’s holdings in Fastenal were worth $347,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the business. Verdence Capital Advisors LLC raised its stake in shares of Fastenal by 1.9% during the 3rd quarter. Verdence Capital Advisors LLC now owns 7,628 shares of the company’s stock worth $545,000 after buying an additional 142 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. grew its position in shares of 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 during the last quarter. Compass Ion Advisors LLC increased its stake 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. Catalina Capital Group LLC raised its position in shares of Fastenal by 4.5% during the 3rd quarter. Catalina Capital Group LLC now owns 3,359 shares of the company’s stock worth $240,000 after purchasing an additional 146 shares during the last quarter. Finally, Sara Bay Financial lifted its stake in Fastenal by 1.3% in the 2nd quarter. Sara Bay Financial now owns 11,872 shares of the company’s stock valued at $746,000 after buying an additional 155 shares in the last quarter. Hedge funds and other institutional investors own 81.38% of the company’s stock.

Insider Activity

In other Fastenal news, VP Charles S. Miller sold 23,480 shares of the stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $83.92, for a total value of $1,970,441.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Daniel L. Florness sold 45,744 shares of the business’s 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 directly owns 286,018 shares in the company, valued at approximately $19,489,266.52. The trade was a 13.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 254,033 shares of company stock valued at $19,240,434. Company insiders own 0.41% of the company’s stock.

Fastenal Trading Down 0.1 %

Shares of FAST opened at $81.80 on Tuesday. Fastenal has a twelve month low of $59.47 and a twelve month high of $84.88. The firm has a market capitalization of $46.86 billion, a P/E ratio of 40.70, a price-to-earnings-growth ratio of 4.80 and a beta of 0.99. The company has a current ratio of 4.40, a quick ratio of 2.29 and a debt-to-equity ratio of 0.03. The stock’s fifty day simple moving average is $75.23 and its 200 day simple moving average is $69.33.

Fastenal (NASDAQ:FAST) last released its quarterly earnings data on Friday, October 11th. The company reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.01. The business had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.90 billion. Fastenal had a return on equity of 33.30% and a net margin of 15.44%. The company’s revenue was up 3.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.52 EPS. On average, equities research analysts forecast that Fastenal will post 2.03 earnings per share for the current year.

Fastenal Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Friday, October 25th will be given a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 1.91%. The ex-dividend date is Friday, October 25th. Fastenal’s payout ratio is currently 77.61%.

Analyst Ratings Changes

FAST has been the subject of a number of analyst reports. Bank of America assumed coverage on Fastenal in a report on Monday, October 7th. They issued a “buy” rating and a $85.00 price target for the company. Stifel Nicolaus reiterated a “buy” rating and set a $86.00 price target (up from $80.00) on shares of Fastenal in a report on Monday, October 14th. UBS Group began coverage on shares of Fastenal in a research note on Wednesday, November 13th. They set a “neutral” rating and a $88.00 price objective on the stock. Stephens lifted their target price on shares of Fastenal from $56.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Monday, October 14th. Finally, Robert W. Baird increased their price target on Fastenal from $67.00 to $80.00 and gave the stock a “neutral” rating in a research note on Monday, October 14th. Eight investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, Fastenal currently has an average rating of “Hold” and an average price target of $74.80.

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.