Resonant Capital Advisors LLC Grows Holdings in Fastenal (NASDAQ:FAST)

Resonant Capital Advisors LLC grew its stake in Fastenal (NASDAQ:FAST) by 1.3% during the fourth quarter, Holdings Channel.com reports. The fund owned 14,270 shares of the company’s stock after acquiring an additional 177 shares during the period. Resonant Capital Advisors LLC’s holdings in Fastenal were worth $1,026,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. King Luther Capital Management Corp raised its stake in shares of Fastenal by 1.6% in the 3rd quarter. King Luther Capital Management Corp now owns 8,664 shares of the company’s stock valued at $619,000 after acquiring an additional 136 shares during the period. Verdence Capital Advisors LLC grew its holdings in shares of Fastenal by 1.9% in the third quarter. Verdence Capital Advisors LLC now owns 7,628 shares of the company’s stock valued at $545,000 after purchasing an additional 142 shares in the last quarter. HB Wealth Management LLC grew its holdings in shares of Fastenal by 1.2% in the fourth quarter. HB Wealth Management LLC now owns 11,674 shares of the company’s stock valued at $840,000 after purchasing an additional 142 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. grew its holdings 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 in the last quarter. Finally, Compass Ion Advisors LLC grew its holdings in 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 acquiring an additional 146 shares in the last quarter. 81.38% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Morgan Stanley boosted their price target on shares of Fastenal from $72.00 to $76.00 and gave the stock an “equal weight” rating in a report on Monday, October 14th. Wolfe Research boosted their price target on shares of Fastenal from $74.00 to $76.00 and gave the stock an “underweight” rating in a report on Thursday, January 16th. Robert W. Baird upped their target price on shares of Fastenal from $67.00 to $80.00 and gave the company a “neutral” rating in a report on Monday, October 14th. Stifel Nicolaus lowered their target price on shares of Fastenal from $86.00 to $82.00 and set a “hold” rating for the company in a report on Tuesday, January 21st. Finally, Hsbc Global Res cut shares of Fastenal from a “hold” rating to a “moderate sell” rating in a report on Wednesday, December 11th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $76.91.

Insiders Place Their Bets

In other news, CEO Daniel L. Florness sold 31,818 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $84.50, for a total value of $2,688,621.00. Following the completion of the transaction, the chief executive officer now owns 286,018 shares in the company, valued at $24,168,521. This trade represents a 10.01 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Charles S. Miller sold 23,480 shares of the stock in a transaction dated Wednesday, November 13th. The shares were 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. In the last quarter, insiders sold 63,772 shares of company stock worth $5,365,455. 0.41% of the stock is owned by insiders.

Fastenal Stock Down 2.3 %

FAST stock opened at $73.24 on Monday. The company has a market cap of $41.96 billion, a price-to-earnings ratio of 36.44, a price-to-earnings-growth ratio of 3.48 and a beta of 1.02. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.67 and a quick ratio of 2.28. Fastenal has a 12 month low of $61.36 and a 12 month high of $84.88. The company has a fifty day moving average price of $76.43 and a 200 day moving average price of $73.78.

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

Fastenal Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, January 31st will be given a dividend of $0.43 per share. The ex-dividend date is Friday, January 31st. This represents a $1.72 dividend on an annualized basis and a yield of 2.35%. This is an increase from Fastenal’s previous quarterly dividend of $0.39. Fastenal’s dividend payout ratio is presently 85.57%.

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.