Fastenal (NASDAQ:FAST) Shares Sold by Alpha Omega Wealth Management LLC

Alpha Omega Wealth Management LLC decreased its holdings in Fastenal (NASDAQ:FAST) by 7.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,625 shares of the company’s stock after selling 970 shares during the quarter. Alpha Omega Wealth Management LLC’s holdings in Fastenal were worth $908,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Ashton Thomas Securities LLC acquired a new position in Fastenal during the 3rd quarter worth approximately $25,000. Knuff & Co LLC acquired a new position in Fastenal during the third quarter worth $27,000. Moisand Fitzgerald Tamayo LLC raised its position in Fastenal by 1,019.0% in the third quarter. Moisand Fitzgerald Tamayo LLC now owns 470 shares of the company’s stock worth $34,000 after acquiring an additional 428 shares in the last quarter. First Personal Financial Services acquired a new stake in Fastenal in the third quarter valued at $36,000. Finally, CVA Family Office LLC boosted its position in shares of Fastenal by 51.0% during the 3rd quarter. CVA Family Office LLC now owns 533 shares of the company’s stock worth $38,000 after purchasing an additional 180 shares in the last quarter. Institutional investors and hedge funds own 81.38% of the company’s stock.

Wall Street Analyst Weigh In

FAST has been the subject of a number of research analyst reports. Stephens increased their price target on shares of Fastenal from $56.00 to $75.00 and gave the company an “equal weight” rating in a report on Monday, October 14th. HSBC lowered Fastenal from a “hold” rating to a “reduce” rating and set a $70.00 price target on the stock. in a research note on Wednesday, December 11th. Bank of America initiated coverage on Fastenal in a report on Monday, October 7th. They issued a “buy” rating and a $85.00 target price on the stock. Robert W. Baird lifted 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. Finally, Jefferies Financial Group increased their price objective on shares of Fastenal from $74.00 to $85.00 and gave the company a “hold” rating in a research note on Friday, December 6th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, Fastenal has an average rating of “Hold” and an average price target of $76.91.

Fastenal Stock Down 2.3 %

Shares of NASDAQ FAST opened at $73.24 on Friday. The firm has a market cap of $41.96 billion, a P/E ratio of 36.44, a price-to-earnings-growth ratio of 3.52 and a beta of 1.02. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.28 and a current ratio of 4.67. Fastenal has a 1 year low of $61.36 and a 1 year high of $84.88. The firm’s 50 day moving average price is $76.43 and its 200 day moving average price is $73.72.

Fastenal (NASDAQ:FAST) last released its earnings results on Friday, January 17th. The company reported $0.46 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.02). The business had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.84 billion. Fastenal had a net margin of 15.25% and a return on equity of 32.55%. The business’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.46 earnings per share. As a group, sell-side analysts anticipate that Fastenal will post 2.15 earnings per share for the current year.

Fastenal Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, January 31st will be given a dividend of $0.43 per share. This is a positive change from Fastenal’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend is Friday, January 31st. This represents a $1.72 annualized dividend and a yield of 2.35%. Fastenal’s dividend payout ratio is 77.61%.

Insiders Place Their Bets

In related news, Director Daniel L. Johnson sold 8,474 shares of the stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $83.36, for a total transaction of $706,392.64. Following the completion of the sale, the director now owns 10,595 shares of the company’s stock, valued at approximately $883,199.20. This represents a 44.44 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Charles S. Miller sold 23,480 shares of the business’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $83.92, for a total transaction of $1,970,441.60. The disclosure for this sale can be found here. Insiders have sold a total of 63,772 shares of company stock valued at $5,365,455 over the last quarter. Company insiders own 0.41% of the company’s stock.

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.