Fastenal (NASDAQ:FAST) Shares Bought by Kestra Advisory Services LLC

Kestra Advisory Services LLC raised its holdings in shares of Fastenal (NASDAQ:FAST – Get Rating) by 50.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 23,542 shares of the company’s stock after acquiring an additional 7,872 shares during the period. Kestra Advisory Services LLC’s holdings in Fastenal were worth $1,084,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. O Shaughnessy Asset Management LLC lifted its stake in Fastenal by 45.2% during the 2nd quarter. O Shaughnessy Asset Management LLC now owns 45,660 shares of the company’s stock valued at $2,279,000 after acquiring an additional 14,203 shares during the period. United Capital Financial Advisers LLC lifted its stake in Fastenal by 5.2% during the 2nd quarter. United Capital Financial Advisers LLC now owns 7,913 shares of the company’s stock valued at $395,000 after acquiring an additional 388 shares during the period. Koshinski Asset Management Inc. lifted its stake in Fastenal by 6.7% during the 3rd quarter. Koshinski Asset Management Inc. now owns 4,594 shares of the company’s stock valued at $212,000 after acquiring an additional 290 shares during the period. Gilbert & Cook Inc. lifted its stake in Fastenal by 8.5% during the 2nd quarter. Gilbert & Cook Inc. now owns 5,247 shares of the company’s stock valued at $262,000 after acquiring an additional 409 shares during the period. Finally, Progressive Investment Management Corp lifted its stake in Fastenal by 0.5% during the 3rd quarter. Progressive Investment Management Corp now owns 132,801 shares of the company’s stock valued at $6,114,000 after acquiring an additional 671 shares during the period. 76.99% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Fastenal

In other Fastenal news, insider Jeffery Michael Watts bought 5,940 shares of the company’s stock in a transaction dated Tuesday, November 29th. The stock was acquired at an average price of $50.58 per share, with a total value of $300,445.20. Following the completion of the acquisition, the insider now directly owns 5,940 shares of the company’s stock, valued at $300,445.20. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on FAST shares. Loop Capital cut their target price on shares of Fastenal from $54.00 to $53.00 and set a “hold” rating for the company in a report on Monday. Morgan Stanley cut their target price on shares of Fastenal from $43.00 to $42.00 and set an “underweight” rating for the company in a report on Friday, January 6th. Jefferies Financial Group reaffirmed a “hold” rating and set a $50.00 target price on shares of Fastenal in a report on Monday, October 17th. Finally, StockNews.com lowered shares of Fastenal from a “buy” rating to a “hold” rating in a report on Saturday, October 15th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $51.14.

Fastenal Price Performance

Shares of NASDAQ FAST opened at $49.58 on Wednesday. The firm has a market cap of $28.40 billion, a PE ratio of 26.09, a PEG ratio of 2.83 and a beta of 1.17. The firm has a fifty day moving average of $49.36 and a 200 day moving average of $49.48. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.79 and a current ratio of 3.96. Fastenal has a one year low of $43.73 and a one year high of $60.74.

Fastenal (NASDAQ:FAST – Get Rating) last issued its quarterly earnings results on Thursday, January 19th. The company reported $0.43 EPS for the quarter, topping the consensus estimate of $0.42 by $0.01. The company had revenue of $1.70 billion during the quarter, compared to analyst estimates of $1.67 billion. Fastenal had a net margin of 15.57% and a return on equity of 34.38%. The firm’s revenue was up 10.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.40 EPS. As a group, research analysts predict that Fastenal will post 1.92 EPS for the current fiscal year.

Fastenal Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 2nd. Stockholders of record on Thursday, February 2nd will be issued a dividend of $0.35 per share. This is a positive change from Fastenal’s previous quarterly dividend of $0.31. The ex-dividend date of this dividend is Wednesday, February 1st. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.82%. Fastenal’s dividend payout ratio is presently 65.26%.

Fastenal Company Profile

(Get Rating)

Fastenal Co engages in the provision of fasteners, tools, and supplies which can help manufacture products, build structures, protect personnel, and maintain facilities and equipment. Its products include cutting tools and metalworking, fasteners, material handling, storage and packaging power, transmission and motors, tools and equipment, electricals, abrasives, hydraulics and pneumatics, plumbing, lifting and rigging, raw materials, fleet and automotive, welding, office products and furniture, and janitorial supplies.