Annex Advisory Services LLC Makes New $271,000 Investment in Fastenal (NASDAQ:FAST)

Annex Advisory Services LLC bought a new stake in Fastenal (NASDAQ:FASTFree Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 3,517 shares of the company’s stock, valued at approximately $271,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Essex Financial Services Inc. raised its holdings in Fastenal by 1.8% in the fourth quarter. Essex Financial Services Inc. now owns 8,539 shares of the company’s stock valued at $553,000 after acquiring an additional 148 shares in the last quarter. Panagora Asset Management Inc. raised its holdings in shares of Fastenal by 0.8% during the fourth quarter. Panagora Asset Management Inc. now owns 19,095 shares of the company’s stock worth $1,237,000 after purchasing an additional 152 shares during the period. Hartford Financial Management Inc. raised its holdings in shares of Fastenal by 46.9% during the fourth quarter. Hartford Financial Management Inc. now owns 479 shares of the company’s stock worth $31,000 after purchasing an additional 153 shares during the period. Accredited Investors Inc. raised its holdings in shares of Fastenal by 0.9% during the fourth quarter. Accredited Investors Inc. now owns 18,129 shares of the company’s stock worth $1,174,000 after purchasing an additional 164 shares during the period. Finally, Empirical Asset Management LLC raised its holdings in shares of Fastenal by 2.4% during the fourth quarter. Empirical Asset Management LLC now owns 7,212 shares of the company’s stock worth $467,000 after purchasing an additional 171 shares during the period. 81.38% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Fastenal

In other Fastenal news, Director Hsenghung Sam Hsu acquired 500 shares of Fastenal stock in a transaction dated 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 transaction, the director now owns 3,500 shares in the company, valued at approximately $221,480. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Fastenal news, Director Hsenghung Sam Hsu acquired 500 shares of Fastenal stock in a transaction dated 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 transaction, the director now owns 3,500 shares in the company, valued at approximately $221,480. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, 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 completion of the transaction, the executive vice president now owns 26,176 shares of the company’s stock, valued at $1,677,096.32. The disclosure for this sale can be found here. 0.41% of the stock is currently owned by insiders.

Fastenal Price Performance

FAST traded down $0.91 on Tuesday, reaching $64.13. The company had a trading volume of 671,503 shares, compared to its average volume of 3,748,942. The company has a fifty day moving average of $66.21 and a 200-day moving average of $68.65. The company has a market capitalization of $36.72 billion, a P/E ratio of 32.20, a PEG ratio of 3.49 and a beta of 1.02. The company has a current ratio of 4.83, a quick ratio of 2.49 and a debt-to-equity ratio of 0.06. Fastenal has a one year low of $53.83 and a one year high of $79.04.

Fastenal (NASDAQ:FASTGet Free Report) last announced its earnings results on Thursday, April 11th. The company reported $0.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 business’s quarterly revenue was up 1.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.52 EPS. As a group, equities research analysts anticipate that Fastenal will post 2.08 earnings per share for the current year.

Fastenal Announces Dividend

The business 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 of this dividend was Wednesday, April 24th. This represents a $1.56 dividend on an annualized basis and a yield of 2.43%. Fastenal’s dividend payout ratio is presently 77.23%.

Analyst Ratings Changes

A number of analysts have weighed in 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. Stifel Nicolaus increased their price objective on shares of Fastenal from $75.00 to $85.00 and gave the stock a “buy” rating in a report on Monday, March 18th. HSBC increased their price objective 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, Robert W. Baird dropped their price objective 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. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, Fastenal currently has a consensus rating of “Hold” and a consensus target price of $68.80.

Check Out Our Latest Report on Fastenal

About Fastenal

(Free Report)

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.

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Institutional Ownership by Quarter for Fastenal (NASDAQ:FAST)

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