Kingswood Wealth Advisors LLC Buys New Position in Fastenal (NASDAQ:FAST)

Kingswood Wealth Advisors LLC purchased a new position in shares of Fastenal (NASDAQ:FAST) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,934 shares of the company’s stock, valued at approximately $226,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Van ECK Associates Corp lifted its holdings in Fastenal by 5.7% during the 4th quarter. Van ECK Associates Corp now owns 101,713 shares of the company’s stock worth $6,588,000 after buying an additional 5,509 shares in the last quarter. Nomura Holdings Inc. purchased a new stake in shares of Fastenal during the fourth quarter worth $747,000. Raymond James & Associates raised its stake in shares of Fastenal by 3.7% in the fourth quarter. Raymond James & Associates now owns 900,171 shares of the company’s stock valued at $58,304,000 after acquiring an additional 31,814 shares in the last quarter. Focus Financial Network Inc. ADV purchased a new position in Fastenal in the fourth quarter valued at $1,282,000. Finally, ICW Investment Advisors LLC grew its stake in Fastenal by 2.0% during the 4th quarter. ICW Investment Advisors LLC now owns 36,090 shares of the company’s stock worth $2,338,000 after purchasing an additional 694 shares in the last quarter. 81.38% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Loop Capital reduced their price target on Fastenal from $71.00 to $66.00 and set a “hold” rating on the stock in a research report on Monday, April 15th. Robert W. Baird reduced their target price on shares of Fastenal from $71.00 to $69.00 and set a “neutral” rating on the stock in a report on Tuesday, May 7th. HSBC boosted their price target on shares of Fastenal from $59.00 to $64.00 and gave the stock a “hold” rating in a report on Monday, April 15th. Finally, Stifel Nicolaus raised their price objective on shares of Fastenal from $75.00 to $85.00 and gave the company a “buy” rating in a report on Monday, March 18th. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, Fastenal has a consensus rating of “Hold” and a consensus price target of $68.80.

Fastenal Stock Performance

Shares of Fastenal stock opened at $62.84 on Friday. The firm has a market capitalization of $35.98 billion, a P/E ratio of 31.11, a P/E/G ratio of 3.38 and a beta of 1.02. The company has a quick ratio of 2.49, a current ratio of 4.83 and a debt-to-equity ratio of 0.06. Fastenal has a 52 week low of $53.83 and a 52 week high of $79.04. The firm’s 50 day moving average is $65.84 and its two-hundred day moving average is $68.62.

Fastenal (NASDAQ:FAST) last announced 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 return on equity of 33.98% and a net margin of 15.68%. The company had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.91 billion. During the same quarter in the prior year, the business earned $0.52 earnings per share. Fastenal’s revenue was up 1.9% compared to the same quarter last year. Research analysts forecast that Fastenal will post 2.08 EPS for the current fiscal year.

Fastenal Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, May 23rd. Investors of record on Thursday, April 25th were given 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 2.48%. Fastenal’s dividend payout ratio (DPR) is presently 77.23%.

Insider Buying and Selling

In other news, Director Hsenghung Sam Hsu acquired 500 shares of Fastenal stock in a transaction on Monday, June 10th. The stock was bought at an average price of $63.28 per share, for a total transaction of $31,640.00. Following the completion of the purchase, the director now owns 3,500 shares in the company, valued at $221,480. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, EVP James C. Jansen sold 11,428 shares of the firm’s stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $64.07, for a total transaction of $732,191.96. Following the transaction, the executive vice president now owns 26,176 shares of the company’s stock, valued at $1,677,096.32. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Hsenghung Sam Hsu acquired 500 shares of Fastenal stock in a transaction on Monday, June 10th. The shares were bought at an average cost of $63.28 per share, with a total value of $31,640.00. Following the completion of the purchase, the director now owns 3,500 shares in the company, valued at $221,480. The disclosure for this purchase can be found here. 0.41% of the stock is currently owned by company insiders.

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.