Brady Martz Wealth Solutions LLC Purchases New Shares in Fastenal (NASDAQ:FAST)

Brady Martz Wealth Solutions LLC acquired a new position in shares of Fastenal (NASDAQ:FAST) during the 4th quarter, Holdings Channel reports. The firm acquired 9,799 shares of the company’s stock, valued at approximately $723,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of FAST. King Luther Capital Management Corp increased its position in Fastenal by 1.6% during the third quarter. King Luther Capital Management Corp now owns 8,664 shares of the company’s stock worth $619,000 after acquiring an additional 136 shares during the period. Verdence Capital Advisors LLC grew its position 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 purchasing an additional 142 shares in the last quarter. HB Wealth Management LLC increased its holdings in shares of Fastenal by 1.2% during the fourth quarter. HB Wealth Management LLC now owns 11,674 shares of the company’s stock worth $840,000 after purchasing an additional 142 shares during the period. Thurston Springer Miller Herd & Titak Inc. raised its holdings in Fastenal by 5.8% in the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,607 shares of the company’s stock valued at $186,000 after acquiring an additional 143 shares in the last quarter. Finally, Compass Ion Advisors LLC lifted its position 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 valued at $709,000 after acquiring an additional 146 shares during the period. Institutional investors and hedge funds own 81.38% of the company’s stock.

Insider Transactions at Fastenal

In other news, Director Rita J. Heise sold 10,888 shares of Fastenal stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $77.67, for a total value of $845,670.96. Following the completion of the transaction, the director now directly owns 20,000 shares of the company’s stock, valued at approximately $1,553,400. This trade represents a 35.25 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Daniel L. Florness sold 31,818 shares of the business’s 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 directly owns 286,018 shares in the company, valued at $24,168,521. This represents a 10.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 74,660 shares of company stock worth $6,211,126 over the last ninety days. 0.41% of the stock is owned by insiders.

Fastenal Price Performance

Fastenal stock opened at $76.08 on Friday. The stock has a 50-day moving average price of $77.92 and a two-hundred day moving average price of $73.00. Fastenal has a 12 month low of $61.36 and a 12 month high of $84.88. 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 company has a market capitalization of $43.59 billion, a PE ratio of 37.85, a P/E/G ratio of 3.94 and a beta of 1.02.

Fastenal (NASDAQ:FAST) last posted 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 for the quarter, compared to analyst estimates of $1,842,560.16 billion. Fastenal had a return on equity of 33.30% and a net margin of 15.44%. The firm’s quarterly revenue was up 3.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.46 earnings per share. Analysts expect that Fastenal will post 2.03 EPS for the current year.

Fastenal Increases Dividend

The business also recently announced 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. This is an increase from Fastenal’s previous quarterly dividend of $0.39. This represents a $1.72 annualized dividend and a yield of 2.26%. Fastenal’s payout ratio is presently 77.61%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on FAST shares. Robert W. Baird boosted their price target on Fastenal from $67.00 to $80.00 and gave the company a “neutral” rating in a research note on Monday, October 14th. Jefferies Financial Group boosted their target price on shares of Fastenal from $74.00 to $85.00 and gave the company a “hold” rating in a research report on Friday, December 6th. HSBC lowered shares of Fastenal from a “hold” rating to a “reduce” rating and set a $70.00 price target on the stock. in a research report on Wednesday, December 11th. Wolfe Research boosted their price objective on shares of Fastenal from $74.00 to $76.00 and gave the company an “underweight” rating in a research report on Thursday. Finally, UBS Group started coverage on Fastenal in a report on Wednesday, November 13th. They issued a “neutral” rating and a $88.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $77.27.

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.