14,606 Shares in Fastenal Company $FAST Acquired by Peak Financial Advisors LLC

Peak Financial Advisors LLC purchased a new position in Fastenal Company (NASDAQ:FAST) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 14,606 shares of the company’s stock, valued at approximately $586,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. SOA Wealth Advisors LLC. raised its holdings in shares of Fastenal by 71.6% in the 3rd quarter. SOA Wealth Advisors LLC. now owns 611 shares of the company’s stock valued at $30,000 after purchasing an additional 255 shares in the last quarter. REAP Financial Group LLC acquired a new position in shares of Fastenal during the third quarter worth $30,000. Twin Peaks Wealth Advisors LLC acquired a new position in shares of Fastenal during the second quarter worth $27,000. First Horizon Corp purchased a new position in Fastenal in the third quarter valued at $33,000. Finally, Financial Perspectives Inc increased its holdings in Fastenal by 414.0% in the third quarter. Financial Perspectives Inc now owns 699 shares of the company’s stock valued at $34,000 after buying an additional 563 shares during the last quarter. Institutional investors and hedge funds own 81.38% of the company’s stock.

Insider Buying and Selling

In other news, Director Scott Satterlee sold 15,964 shares of the stock in a transaction that occurred on Friday, January 23rd. The stock was sold at an average price of $44.19, for a total value of $705,449.16. Following the completion of the sale, the director directly owned 50,000 shares of the company’s stock, valued at approximately $2,209,500. This represents a 24.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Reyne K. Wisecup sold 36,920 shares of the firm’s stock in a transaction that occurred on Thursday, March 5th. The stock was sold at an average price of $47.34, for a total transaction of $1,747,792.80. Following the transaction, the director owned 40,000 shares in the company, valued at approximately $1,893,600. This trade represents a 48.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.28% of the stock is currently owned by insiders.

Fastenal Stock Performance

NASDAQ FAST opened at $45.37 on Thursday. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.85 and a quick ratio of 2.41. Fastenal Company has a 1 year low of $35.31 and a 1 year high of $50.63. The company has a market capitalization of $52.10 billion, a PE ratio of 41.25, a P/E/G ratio of 2.85 and a beta of 0.88. The company has a fifty day moving average of $45.43 and a two-hundred day moving average of $43.88.

Fastenal (NASDAQ:FAST) last posted its earnings results on Tuesday, January 20th. The company reported $0.26 EPS for the quarter, hitting analysts’ consensus estimates of $0.26. The business had revenue of $2.03 billion for the quarter, compared to analysts’ expectations of $2.04 billion. Fastenal had a return on equity of 32.83% and a net margin of 15.35%.The business’s revenue was up 11.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.46 earnings per share. As a group, analysts expect that Fastenal Company will post 2.15 earnings per share for the current year.

Fastenal Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 26th. Shareholders of record on Thursday, January 29th were paid a $0.24 dividend. This is an increase from Fastenal’s previous quarterly dividend of $0.22. This represents a $0.96 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date was Thursday, January 29th. Fastenal’s dividend payout ratio (DPR) is presently 87.27%.

Wall Street Analysts Forecast Growth

FAST has been the subject of a number of recent analyst reports. Barclays lifted their price target on Fastenal from $43.00 to $44.00 and gave the stock an “equal weight” rating in a report on Friday, March 6th. Robert W. Baird increased their price objective on Fastenal from $51.00 to $52.00 and gave the company an “outperform” rating in a report on Friday, March 6th. Sanford C. Bernstein reissued an “underperform” rating on shares of Fastenal in a research report on Wednesday, January 21st. Jefferies Financial Group set a $52.00 price target on Fastenal and gave the company a “buy” rating in a report on Monday, December 15th. Finally, Benchmark reiterated a “buy” rating on shares of Fastenal in a research note on Thursday, March 5th. Five analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $48.83.

Fastenal Company Profile

Fastenal (NASDAQ: FAST) is a wholesale distributor of industrial and construction supplies, best known for its broad assortment of fasteners such as bolts, nuts, screws and anchors. Founded in Winona, Minnesota, Fastenal has grown from a regional supplier into a national and international distributor serving a wide range of end markets, including manufacturing, construction, maintenance, repair and operations (MRO), and government customers. The company is publicly traded and operates through a network of locally staffed branches combined with national distribution capabilities.

Product offerings extend beyond fasteners to include tools, safety and personal protective equipment, power transmission components, cutting and welding supplies, janitorial and material handling items, and other industrial consumables.