Clarus Wealth Advisors Invests $211,000 in Fastenal (NASDAQ:FAST)

Clarus Wealth Advisors purchased a new stake in shares of Fastenal (NASDAQ:FASTFree Report) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 3,109 shares of the company’s stock, valued at approximately $211,000.

A number of other large investors have also recently added to or reduced their stakes in the business. Ontario Teachers Pension Plan Board acquired a new stake in Fastenal in the 2nd quarter valued at approximately $447,000. Raymond James & Associates raised its holdings in shares of Fastenal by 3.7% in the 4th quarter. Raymond James & Associates now owns 900,171 shares of the company’s stock valued at $58,304,000 after buying an additional 31,814 shares during the period. B. Riley Wealth Advisors Inc. acquired a new position in Fastenal during the 3rd quarter worth about $1,293,000. National Bank of Canada FI boosted its holdings in Fastenal by 26.8% during the 3rd quarter. National Bank of Canada FI now owns 262,544 shares of the company’s stock valued at $14,401,000 after acquiring an additional 55,491 shares during the period. Finally, Kampmann Melissa S. purchased a new position in Fastenal during the 3rd quarter valued at about $2,777,000. 81.38% of the stock is currently owned by institutional investors and hedge funds.

Fastenal Stock Down 0.2 %

Shares of NASDAQ FAST opened at $77.14 on Monday. Fastenal has a 1 year low of $50.30 and a 1 year high of $79.04. The company has a market capitalization of $44.14 billion, a price-to-earnings ratio of 38.19, a price-to-earnings-growth ratio of 3.98 and a beta of 1.05. The company has a debt-to-equity ratio of 0.06, a current ratio of 4.57 and a quick ratio of 2.27. The business has a 50-day moving average of $72.63 and a two-hundred day moving average of $64.50.

Fastenal (NASDAQ:FASTGet Free Report) last announced its quarterly earnings results on Thursday, January 18th. The company reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.45 by $0.01. The firm had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.75 billion. Fastenal had a return on equity of 34.31% and a net margin of 15.72%. The firm’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.43 earnings per share. On average, analysts forecast that Fastenal will post 2.15 earnings per share for the current fiscal year.

Fastenal Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, February 29th. Stockholders of record on Thursday, February 1st were issued a $0.39 dividend. This is a boost from Fastenal’s previous quarterly dividend of $0.38. The ex-dividend date was Wednesday, January 31st. This represents a $1.56 annualized dividend and a dividend yield of 2.02%. Fastenal’s dividend payout ratio is presently 77.23%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on FAST. Stifel Nicolaus increased their target price on shares of Fastenal from $75.00 to $85.00 and gave the stock a “buy” rating in a report on Monday, March 18th. Robert W. Baird increased their price objective on Fastenal from $74.00 to $77.00 and gave the company a “neutral” rating in a research note on Thursday, March 7th. One analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $64.50.

Read Our Latest Stock Report on Fastenal

Insider Activity at Fastenal

In related news, VP Charles S. Miller sold 11,076 shares of the business’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $75.16, for a total value of $832,472.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Jeffery Michael Watts sold 19,420 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $70.25, for a total transaction of $1,364,255.00. Following the transaction, the insider now directly owns 5,940 shares in the company, valued at $417,285. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Charles S. Miller sold 11,076 shares of Fastenal stock in a transaction on Friday, March 15th. The shares were sold at an average price of $75.16, for a total transaction of $832,472.16. The disclosure for this sale can be found here. Insiders have sold 105,682 shares of company stock valued at $7,375,853 in the last ninety days. Insiders own 0.41% of the company’s stock.

About Fastenal

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Fastenal (NASDAQ:FAST)

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