Founders Financial Securities LLC Invests $273,000 in Fastenal (NASDAQ:FAST)

Founders Financial Securities LLC acquired a new position in shares of Fastenal (NASDAQ:FAST) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 3,535 shares of the company’s stock, valued at approximately $273,000.

A number of other large investors also recently modified their holdings of FAST. Norges Bank acquired a new position in shares of Fastenal during the 4th quarter worth about $405,513,000. Confluence Investment Management LLC acquired a new position in shares of Fastenal during the 1st quarter worth about $195,459,000. TD Asset Management Inc boosted its stake in shares of Fastenal by 112.9% during the 4th quarter. TD Asset Management Inc now owns 2,679,735 shares of the company’s stock worth $173,566,000 after buying an additional 1,420,763 shares during the last quarter. Baird Financial Group Inc. boosted its stake in shares of Fastenal by 15.2% during the 4th quarter. Baird Financial Group Inc. now owns 7,928,209 shares of the company’s stock worth $513,510,000 after buying an additional 1,043,529 shares during the last quarter. Finally, Los Angeles Capital Management LLC raised its holdings in shares of Fastenal by 46.2% in the 1st quarter. Los Angeles Capital Management LLC now owns 3,185,855 shares of the company’s stock valued at $245,757,000 after purchasing an additional 1,006,402 shares during the period. 81.38% of the stock is currently owned by institutional investors and hedge funds.

Fastenal Stock Down 0.8 %

Fastenal stock opened at $62.84 on Monday. The stock has a market cap of $35.98 billion, a P/E ratio of 31.11, a P/E/G ratio of 3.36 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 twelve month low of $53.83 and a twelve month high of $79.04. The company’s 50-day moving average price is $65.84 and its two-hundred day moving average price is $68.65.

Fastenal (NASDAQ:FAST) last released its quarterly earnings results on Thursday, April 11th. The company reported $0.52 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.01). The company had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.91 billion. Fastenal had a net margin of 15.68% and a return on equity of 33.98%. The firm’s revenue was up 1.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.52 earnings per share. As a group, analysts expect that Fastenal will post 2.08 EPS for the current year.

Fastenal Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 23rd. Stockholders of record on Thursday, April 25th were issued a dividend of $0.39 per share. The ex-dividend date of this dividend was Wednesday, April 24th. This represents a $1.56 annualized dividend and a dividend yield of 2.48%. Fastenal’s dividend payout ratio is presently 77.23%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Loop Capital dropped their target price on shares of Fastenal from $71.00 to $66.00 and set a “hold” rating on the stock in a report on Monday, April 15th. Robert W. Baird dropped 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 upped their target price on shares of Fastenal from $59.00 to $64.00 and gave the company a “hold” rating in a report on Monday, April 15th. Finally, Stifel Nicolaus upped their target price 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 investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $68.80.

Insider Transactions at Fastenal

In other Fastenal news, Director Hsenghung Sam Hsu bought 500 shares of the stock in a transaction dated 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 acquisition, the director now owns 3,500 shares of the company’s stock, valued at $221,480. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, Director Daniel L. Johnson purchased 3,350 shares of Fastenal stock in a transaction that occurred on Wednesday, April 17th. The shares were acquired at an average price of $68.38 per share, for a total transaction of $229,073.00. Following the transaction, the director now owns 10,595 shares of the company’s stock, valued at approximately $724,486.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Hsenghung Sam Hsu purchased 500 shares of Fastenal stock in a transaction that occurred on Monday, June 10th. The shares were purchased at an average price of $63.28 per share, for a total transaction of $31,640.00. Following the transaction, the director now directly owns 3,500 shares in the company, valued at approximately $221,480. The disclosure for this purchase can be found here. Insiders own 0.41% of the company’s stock.

About Fastenal

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.