True North Advisors LLC Buys New Shares in Fastenal (NASDAQ:FAST)

True North Advisors LLC bought a new stake in Fastenal (NASDAQ:FASTGet Rating) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 195,572 shares of the company’s stock, valued at approximately $12,528,000. Fastenal makes up about 2.1% of True North Advisors LLC’s investment portfolio, making the stock its 8th largest holding.

A number of other institutional investors have also added to or reduced their stakes in the stock. Mascoma Wealth Management LLC bought a new position in shares of Fastenal in the 4th quarter valued at about $26,000. Newbridge Financial Services Group Inc. bought a new position in shares of Fastenal in the 4th quarter valued at about $33,000. Sonora Investment Management LLC grew its position in shares of Fastenal by 136.7% in the 3rd quarter. Sonora Investment Management LLC now owns 632 shares of the company’s stock valued at $33,000 after acquiring an additional 365 shares during the period. Allegheny Financial Group LTD bought a new position in shares of Fastenal in the 4th quarter valued at about $43,000. Finally, Amplius Wealth Advisors LLC bought a new position in shares of Fastenal in the 4th quarter valued at about $44,000. 77.89% of the stock is owned by institutional investors and hedge funds.

In related news, Director Michael J. Ancius purchased 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 11th. The shares were bought at an average cost of $51.00 per share, with a total value of $51,000.00. Following the acquisition, the director now owns 27,587 shares of the company’s stock, valued at approximately $1,406,937. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Michael J. Ancius purchased 650 shares of the firm’s stock in a transaction that occurred on Thursday, April 14th. The shares were bought at an average cost of $56.41 per share, for a total transaction of $36,666.50. Following the completion of the acquisition, the director now directly owns 25,952 shares in the company, valued at approximately $1,463,952.32. The disclosure for this purchase can be found here. Insiders bought a total of 1,885 shares of company stock valued at $100,509 over the last 90 days. Corporate insiders own 0.40% of the company’s stock.

Fastenal stock traded up $0.11 during midday trading on Friday, hitting $51.45. The company’s stock had a trading volume of 3,187,277 shares, compared to its average volume of 3,550,969. Fastenal has a 1-year low of $48.84 and a 1-year high of $64.75. The company has a debt-to-equity ratio of 0.11, a current ratio of 4.07 and a quick ratio of 1.92. The company has a 50-day moving average price of $56.21 and a two-hundred day moving average price of $57.46. The company has a market cap of $29.62 billion, a price-to-earnings ratio of 30.09, a PEG ratio of 3.04 and a beta of 1.29.

Fastenal (NASDAQ:FASTGet Rating) last issued its quarterly earnings data on Wednesday, April 13th. The company reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.03. Fastenal had a net margin of 15.63% and a return on equity of 32.72%. The business had revenue of $1.70 billion during the quarter, compared to analysts’ expectations of $1.69 billion. During the same quarter in the previous year, the company earned $0.37 EPS. The business’s revenue was up 20.3% on a year-over-year basis. Sell-side analysts forecast that Fastenal will post 1.88 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 25th. Stockholders of record on Wednesday, April 27th will be given a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 2.41%. The ex-dividend date of this dividend is Tuesday, April 26th. Fastenal’s payout ratio is presently 72.52%.

A number of brokerages have recently commented on FAST. StockNews.com raised shares of Fastenal from a “hold” rating to a “buy” rating in a research report on Thursday. Wells Fargo & Company raised their target price on shares of Fastenal from $58.00 to $60.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 14th. Morgan Stanley raised their target price on shares of Fastenal from $53.00 to $56.00 and gave the stock an “underweight” rating in a research note on Thursday, April 14th. Finally, Robert W. Baird raised their target price on shares of Fastenal from $64.00 to $66.00 in a research note on Monday, March 7th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $60.17.

About Fastenal (Get Rating)

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, which are used in manufactured products and construction projects, as well as in the maintenance and repair of machines.

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Institutional Ownership by Quarter for Fastenal (NASDAQ:FAST)

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