AE Wealth Management LLC Has $3.37 Million Holdings in Fastenal (NASDAQ:FAST)

AE Wealth Management LLC raised its stake in shares of Fastenal (NASDAQ:FAST) by 3.3% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 53,649 shares of the company’s stock after buying an additional 1,705 shares during the period. AE Wealth Management LLC’s holdings in Fastenal were worth $3,371,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of FAST. Penobscot Investment Management Company Inc. increased its holdings in shares of Fastenal by 1.1% during the 1st quarter. Penobscot Investment Management Company Inc. now owns 13,350 shares of the company’s stock valued at $1,030,000 after acquiring an additional 150 shares during the last quarter. Sara Bay Financial lifted its position in shares of Fastenal by 1.3% during the 2nd quarter. Sara Bay Financial now owns 11,872 shares of the company’s stock worth $746,000 after buying an additional 155 shares during the period. Trueblood Wealth Management LLC boosted its stake in shares of Fastenal by 1.4% in the 2nd quarter. Trueblood Wealth Management LLC now owns 11,314 shares of the company’s stock valued at $711,000 after purchasing an additional 156 shares in the last quarter. Team Hewins LLC boosted its position in Fastenal by 4.8% in the first quarter. Team Hewins LLC now owns 3,404 shares of the company’s stock valued at $263,000 after buying an additional 157 shares in the last quarter. Finally, Bleakley Financial Group LLC boosted its holdings in shares of Fastenal by 2.0% in the 1st quarter. Bleakley Financial Group LLC now owns 8,173 shares of the company’s stock worth $630,000 after acquiring an additional 159 shares in the last quarter. Hedge funds and other institutional investors own 81.38% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Morgan Stanley initiated coverage on shares of Fastenal in a research report on Friday, September 6th. They set an “equal weight” rating and a $72.00 price target on the stock. Stephens restated an “equal weight” rating and issued a $56.00 price target on shares of Fastenal in a research report on Monday, July 15th. Stifel Nicolaus restated a “buy” rating and set a $80.00 price objective (down previously from $85.00) on shares of Fastenal in a report on Monday, July 15th. Finally, Jefferies Financial Group decreased their target price on Fastenal from $74.00 to $65.00 and set a “hold” rating for the company in a research note on Thursday, July 11th. Seven analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, Fastenal presently has an average rating of “Hold” and an average price target of $67.43.

Fastenal Price Performance

NASDAQ FAST opened at $70.75 on Monday. The company has a quick ratio of 2.29, a current ratio of 4.39 and a debt-to-equity ratio of 0.04. Fastenal has a 12-month low of $53.83 and a 12-month high of $79.04. The firm’s 50 day moving average is $68.05 and its 200-day moving average is $68.41. The company has a market capitalization of $40.51 billion, a PE ratio of 35.20, a price-to-earnings-growth ratio of 3.78 and a beta of 1.01.

Fastenal (NASDAQ:FAST) last announced its quarterly earnings data on Friday, July 12th. The company reported $0.51 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.51. The company had revenue of $1.92 billion for the quarter, compared to analysts’ expectations of $1.91 billion. Fastenal had a return on equity of 33.54% and a net margin of 15.54%. The business’s revenue was up 1.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.52 EPS. Equities research analysts anticipate that Fastenal will post 2.04 earnings per share for the current fiscal year.

Fastenal Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Friday, July 26th were given a dividend of $0.39 per share. The ex-dividend date of this dividend was Friday, July 26th. This represents a $1.56 dividend on an annualized basis and a yield of 2.20%. Fastenal’s dividend payout ratio (DPR) is 77.61%.

Insider Buying and Selling

In other Fastenal news, CEO Daniel L. Florness sold 45,744 shares of the company’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $68.14, for a total value of $3,116,996.16. Following the transaction, the chief executive officer now directly owns 286,018 shares of the company’s stock, valued at approximately $19,489,266.52. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CEO Daniel L. Florness sold 45,744 shares of the stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $68.14, for a total transaction of $3,116,996.16. Following the sale, the chief executive officer now owns 286,018 shares of the company’s stock, valued at $19,489,266.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Daniel L. Florness sold 50,000 shares of the firm’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $69.68, for a total value of $3,484,000.00. Following the completion of the transaction, the chief executive officer now owns 286,018 shares in the company, valued at approximately $19,929,734.24. The disclosure for this sale can be found here. 0.41% of the stock is currently owned by 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.