Marquette Asset Management LLC Invests $241,000 in Fastenal (NASDAQ:FAST)

Marquette Asset Management LLC purchased a new stake in Fastenal (NASDAQ:FAST) in the third quarter, according to the company in its most recent filing with the SEC. The firm purchased 3,370 shares of the company’s stock, valued at approximately $241,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Central Valley Advisors LLC acquired a new stake in shares of Fastenal during the 2nd quarter valued at approximately $28,000. MCF Advisors LLC raised its holdings in Fastenal by 2,172.2% during the first quarter. MCF Advisors LLC now owns 409 shares of the company’s stock worth $32,000 after purchasing an additional 391 shares during the last quarter. Triad Wealth Partners LLC purchased a new stake in Fastenal during the second quarter worth $32,000. Crewe Advisors LLC grew its holdings in Fastenal by 528.4% in the second quarter. Crewe Advisors LLC now owns 509 shares of the company’s stock valued at $32,000 after purchasing an additional 428 shares during the last quarter. Finally, OFI Invest Asset Management acquired a new stake in Fastenal in the second quarter valued at $35,000. Institutional investors and hedge funds own 81.38% of the company’s stock.

Fastenal Trading Up 0.2 %

Shares of Fastenal stock opened at $70.17 on Wednesday. Fastenal has a fifty-two week low of $55.42 and a fifty-two week high of $79.04. The business’s fifty day moving average is $68.55 and its two-hundred day moving average is $68.04. The company has a quick ratio of 2.29, a current ratio of 4.39 and a debt-to-equity ratio of 0.04. The firm has a market cap of $40.18 billion, a PE ratio of 34.91, a P/E/G ratio of 3.92 and a beta of 1.01.

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

Fastenal Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Friday, July 26th were given a $0.39 dividend. The ex-dividend date was Friday, July 26th. This represents a $1.56 annualized dividend and a dividend yield of 2.22%. Fastenal’s dividend payout ratio is presently 77.61%.

Analyst Ratings Changes

Several research firms recently commented on FAST. Morgan Stanley started coverage on shares of Fastenal in a research report on Friday, September 6th. They issued an “equal weight” rating and a $72.00 price objective on the stock. Jefferies Financial Group reduced their price target on shares of Fastenal from $74.00 to $65.00 and set a “hold” rating on the stock in a report on Thursday, July 11th. Stephens reissued an “equal weight” rating and set a $56.00 price objective on shares of Fastenal in a research note on Monday, July 15th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $80.00 target price (down previously from $85.00) on shares of Fastenal in a research note on Monday, July 15th. Finally, Bank of America began coverage on Fastenal in a report on Monday. They set a “buy” rating and a $85.00 target price on the stock. Six analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Fastenal has a consensus rating of “Hold” and a consensus price target of $69.63.

Insider Activity at Fastenal

In other Fastenal news, CEO Daniel L. Florness sold 50,000 shares of Fastenal stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $69.68, for a total value of $3,484,000.00. Following the transaction, the chief executive officer now owns 286,018 shares in the company, valued at $19,929,734.24. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CEO Daniel L. Florness sold 50,000 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 286,018 shares in the company, valued at $19,929,734.24. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Daniel L. Florness sold 45,744 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer now owns 286,018 shares of the company’s stock, valued at $19,489,266.52. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.41% of the stock is owned by insiders.

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.