Commerce Bank Purchases 613 Shares of Fastenal (NASDAQ:FAST)

Commerce Bank boosted its position in Fastenal (NASDAQ:FAST) by 1.2% during the 4th quarter, Holdings Channel reports. The fund owned 53,248 shares of the company’s stock after buying an additional 613 shares during the period. Commerce Bank’s holdings in Fastenal were worth $3,449,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the stock. Hartford Financial Management Inc. increased its position in Fastenal by 46.9% in the fourth quarter. Hartford Financial Management Inc. now owns 479 shares of the company’s stock worth $31,000 after buying an additional 153 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of Fastenal in the 4th quarter worth approximately $35,000. Criterion Capital Advisors LLC purchased a new stake in shares of Fastenal in the 4th quarter worth approximately $43,000. First Horizon Advisors Inc. boosted its stake in Fastenal by 283.2% during the 4th quarter. First Horizon Advisors Inc. now owns 755 shares of the company’s stock valued at $49,000 after purchasing an additional 558 shares during the last quarter. Finally, Frazier Financial Advisors LLC purchased a new stake in Fastenal during the 4th quarter valued at $52,000. Institutional investors own 81.38% of the company’s stock.

Fastenal Stock Performance

NASDAQ:FAST opened at $66.02 on Monday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.49 and a current ratio of 4.83. The stock has a market capitalization of $37.80 billion, a P/E ratio of 32.68, a PEG ratio of 3.48 and a beta of 1.07. The company has a 50 day moving average price of $70.86 and a 200 day moving average price of $68.07. Fastenal has a fifty-two week low of $52.86 and a fifty-two week high of $79.04.

Fastenal (NASDAQ:FAST) last issued its quarterly earnings results on Thursday, April 11th. The company reported $0.52 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.01). Fastenal had a net margin of 15.68% and a return on equity of 33.98%. The business had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.91 billion. During the same period in the prior year, the business earned $0.52 EPS. The business’s quarterly revenue was up 1.9% on a year-over-year basis. Equities research analysts forecast that Fastenal will post 2.11 EPS for the current year.

Fastenal Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 23rd. Stockholders of record on Thursday, April 25th were issued a $0.39 dividend. The ex-dividend date was Wednesday, April 24th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.36%. Fastenal’s payout ratio is 77.23%.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Stifel Nicolaus raised their target price on Fastenal from $75.00 to $85.00 and gave the stock a “buy” rating in a report on Monday, March 18th. Loop Capital dropped their price target on Fastenal from $71.00 to $66.00 and set a “hold” rating for the company in a research report on Monday, April 15th. Robert W. Baird dropped their target price on Fastenal from $71.00 to $69.00 and set a “neutral” rating for the company in a research report on Tuesday, May 7th. Finally, HSBC lifted their price target on shares of Fastenal from $59.00 to $64.00 and gave the company a “hold” rating in a research note on Monday, April 15th. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, Fastenal presently has a consensus rating of “Hold” and an average price target of $67.33.

Insider Buying and Selling

In other Fastenal news, 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 value of $832,472.16. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, Director Daniel L. Johnson acquired 3,350 shares of the firm’s stock in a transaction that occurred on Wednesday, April 17th. The shares were purchased at an average price of $68.38 per share, with a total value of $229,073.00. Following the completion of the acquisition, the director now owns 10,595 shares in the company, valued at $724,486.10. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Charles S. Miller sold 11,076 shares of the business’s stock in a transaction dated Friday, March 15th. The stock was 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. 0.41% of the stock is owned by company insiders.

Fastenal 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.