ORG Wealth Partners LLC Purchases Shares of 5,808 Fastenal (NASDAQ:FAST)

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

Several other hedge funds and other institutional investors have also modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. boosted its position in Fastenal by 5.8% during the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,607 shares of the company’s stock worth $186,000 after purchasing an additional 143 shares during the period. Penobscot Investment Management Company Inc. grew its stake in shares of Fastenal by 1.1% in the first quarter. Penobscot Investment Management Company Inc. now owns 13,350 shares of the company’s stock valued at $1,030,000 after buying an additional 150 shares in the last quarter. Sara Bay Financial raised its holdings in shares of Fastenal by 1.3% during 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 during the period. Trueblood Wealth Management LLC raised its holdings in shares of Fastenal by 1.4% during the 2nd quarter. Trueblood Wealth Management LLC now owns 11,314 shares of the company’s stock valued at $711,000 after buying an additional 156 shares during the period. Finally, Team Hewins LLC lifted its position in Fastenal by 4.8% during the 1st quarter. Team Hewins LLC now owns 3,404 shares of the company’s stock worth $263,000 after acquiring an additional 157 shares in the last quarter. 81.38% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Fastenal news, CEO Daniel L. Florness sold 50,000 shares of Fastenal stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $69.68, for a total value of $3,484,000.00. Following the completion of the transaction, the chief executive officer now directly owns 286,018 shares in the company, valued at $19,929,734.24. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Fastenal news, CEO Daniel L. Florness sold 50,000 shares of the firm’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $69.68, for a total value of $3,484,000.00. Following the sale, the chief executive officer now directly owns 286,018 shares in the company, valued at approximately $19,929,734.24. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Daniel L. Florness sold 45,744 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were 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 of the company’s stock, valued at approximately $19,489,266.52. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.41% of the company’s stock.

Analyst Upgrades and Downgrades

FAST has been the topic of a number of analyst reports. Morgan Stanley assumed coverage on shares of Fastenal in a research note on Friday, September 6th. They set an “equal weight” rating and a $72.00 price objective on the stock. Jefferies Financial Group dropped their price target on shares of Fastenal from $74.00 to $65.00 and set a “hold” rating on the stock in a research note on Thursday, July 11th. Robert W. Baird upped their price objective on shares of Fastenal from $67.00 to $80.00 and gave the company a “neutral” rating in a research report on Monday. Bank of America began coverage on Fastenal in a research report on Monday, October 7th. They set a “buy” rating and a $85.00 target price on the stock. Finally, Stephens boosted their price target on Fastenal from $56.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Monday. Seven investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $72.22.

Fastenal Stock Up 9.8 %

Shares of Fastenal stock opened at $76.82 on Monday. The business has a 50-day moving average price of $68.77 and a 200 day moving average price of $67.89. Fastenal has a fifty-two week low of $56.41 and a fifty-two week high of $79.04. The firm 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 has a quick ratio of 2.29, a current ratio of 4.39 and a debt-to-equity ratio of 0.04.

Fastenal (NASDAQ:FAST) last issued its quarterly earnings results on Friday, October 11th. The company reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.01. Fastenal had a return on equity of 33.54% and a net margin of 15.54%. The business had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.90 billion. During the same period in the previous year, the business earned $0.52 EPS. The business’s quarterly revenue was up 3.5% on a year-over-year basis. On average, sell-side analysts forecast that Fastenal will post 2.04 earnings per share for the current fiscal year.

Fastenal Dividend Announcement

The firm also recently declared 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. The ex-dividend date of this dividend is Friday, October 25th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.03%. Fastenal’s payout ratio is currently 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.