Koshinski Asset Management Inc. Raises Stock Position in Fastenal (NASDAQ:FAST)

Koshinski Asset Management Inc. increased its stake in Fastenal (NASDAQ:FAST) by 44.3% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 7,587 shares of the company’s stock after acquiring an additional 2,331 shares during the quarter. Koshinski Asset Management Inc.’s holdings in Fastenal were worth $546,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of FAST. Ashton Thomas Securities LLC acquired a new stake in Fastenal during the third quarter worth about $25,000. Knuff & Co LLC acquired a new stake in shares of Fastenal during the third quarter valued at about $27,000. Moisand Fitzgerald Tamayo LLC increased its position in shares of Fastenal by 1,019.0% during the third quarter. Moisand Fitzgerald Tamayo LLC now owns 470 shares of the company’s stock valued at $34,000 after acquiring an additional 428 shares during the last quarter. First Personal Financial Services acquired a new stake in shares of Fastenal during the third quarter valued at about $36,000. Finally, CVA Family Office LLC boosted its stake in shares of Fastenal by 51.0% in the third quarter. CVA Family Office LLC now owns 533 shares of the company’s stock valued at $38,000 after purchasing an additional 180 shares during the period. 81.38% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. Robert W. Baird raised their price objective on shares of Fastenal from $67.00 to $80.00 and gave the company a “neutral” rating in a research note on Monday, October 14th. UBS Group assumed coverage on shares of Fastenal in a research note on Wednesday, November 13th. They issued a “neutral” rating and a $88.00 price objective for the company. JPMorgan Chase & Co. raised their price objective on shares of Fastenal from $57.00 to $63.00 and gave the company a “neutral” rating in a research note on Thursday, October 10th. Wolfe Research raised their price objective on shares of Fastenal from $74.00 to $76.00 and gave the company an “underweight” rating in a research note on Thursday, January 16th. Finally, HSBC lowered shares of Fastenal from a “hold” rating to a “reduce” rating and set a $70.00 price objective for the company. in a research note on Wednesday, December 11th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $76.91.

Insiders Place Their Bets

In other news, VP Charles S. Miller sold 23,480 shares of Fastenal stock in a transaction 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 legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Daniel L. Florness sold 31,818 shares of Fastenal stock in a transaction on Monday, November 11th. The shares were sold at an average price of $84.50, for a total transaction of $2,688,621.00. Following the completion of the transaction, the chief executive officer now directly owns 286,018 shares in the company, valued at $24,168,521. The trade was a 10.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 74,660 shares of company stock valued at $6,211,126. 0.41% of the stock is owned by corporate insiders.

Fastenal Stock Down 0.6 %

FAST stock opened at $75.60 on Thursday. The company has a current ratio of 4.67, a quick ratio of 2.28 and a debt-to-equity ratio of 0.03. Fastenal has a twelve month low of $61.36 and a twelve month high of $84.88. The company’s 50 day moving average is $77.60 and its two-hundred day moving average is $73.26. The stock has a market cap of $43.31 billion, a P/E ratio of 37.61, a PEG ratio of 4.22 and a beta of 1.02.

Fastenal (NASDAQ:FAST) last released its quarterly earnings data on Friday, January 17th. The company reported $0.46 earnings per share for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.02). Fastenal had a return on equity of 32.55% and a net margin of 15.25%. The company had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1,842,560.16 billion. During the same period in the previous year, the business posted $0.46 EPS. The firm’s revenue for the quarter was up 3.7% compared to the same quarter last year. Research analysts expect that Fastenal will post 2.16 earnings per share for the current fiscal year.

Fastenal Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, January 31st will be issued a dividend of $0.43 per share. The ex-dividend date of this dividend is Friday, January 31st. This represents a $1.72 dividend on an annualized basis and a yield of 2.28%. This is a boost from Fastenal’s previous quarterly dividend of $0.39. Fastenal’s dividend payout ratio (DPR) is presently 77.61%.

About Fastenal

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.