Exchange Traded Concepts LLC Raises Stock Position in Fastenal Company $FAST

Exchange Traded Concepts LLC increased its position in shares of Fastenal Company (NASDAQ:FAST) by 87.8% in the 3rd quarter, HoldingsChannel reports. The fund owned 41,790 shares of the company’s stock after acquiring an additional 19,533 shares during the period. Exchange Traded Concepts LLC’s holdings in Fastenal were worth $2,049,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Bartlett & CO. Wealth Management LLC increased its position in shares of Fastenal by 21.2% during the third quarter. Bartlett & CO. Wealth Management LLC now owns 10,899 shares of the company’s stock worth $534,000 after purchasing an additional 1,904 shares in the last quarter. AdvisorNet Financial Inc boosted its position in shares of Fastenal by 321.7% in the 3rd quarter. AdvisorNet Financial Inc now owns 2,960 shares of the company’s stock worth $145,000 after purchasing an additional 2,258 shares in the last quarter. Marshall Financial Group LLC grew its stake in Fastenal by 4.5% during the 3rd quarter. Marshall Financial Group LLC now owns 23,203 shares of the company’s stock worth $1,138,000 after buying an additional 1,006 shares during the last quarter. Wedmont Private Capital increased its position in Fastenal by 4.4% during the 3rd quarter. Wedmont Private Capital now owns 18,803 shares of the company’s stock valued at $892,000 after buying an additional 799 shares in the last quarter. Finally, Czech National Bank raised its stake in Fastenal by 3.9% in the third quarter. Czech National Bank now owns 291,476 shares of the company’s stock valued at $14,294,000 after buying an additional 11,050 shares during the last quarter. 81.38% of the stock is currently owned by institutional investors and hedge funds.

Fastenal Stock Performance

NASDAQ FAST opened at $41.82 on Friday. The firm has a market capitalization of $48.01 billion, a P/E ratio of 39.08, a PEG ratio of 3.35 and a beta of 0.89. The stock has a 50-day simple moving average of $41.28 and a two-hundred day simple moving average of $44.43. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.19 and a current ratio of 4.26. Fastenal Company has a fifty-two week low of $35.31 and a fifty-two week high of $50.63.

Fastenal (NASDAQ:FAST) last posted its earnings results on Tuesday, October 14th. The company reported $0.29 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.01). The company had revenue of $2.13 billion for the quarter, compared to analyst estimates of $2.13 billion. Fastenal had a return on equity of 32.69% and a net margin of 15.34%.The firm’s revenue was up 11.7% on a year-over-year basis. During the same period last year, the business earned $0.26 earnings per share. On average, equities analysts forecast that Fastenal Company will post 2.15 earnings per share for the current year.

Fastenal Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, November 25th. Stockholders of record on Tuesday, October 28th were issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend was Tuesday, October 28th. Fastenal’s payout ratio is 82.24%.

Insider Activity at Fastenal

In other news, Director Sarah N. Nielsen acquired 1,000 shares of the business’s stock in a transaction on Wednesday, November 19th. The stock was bought at an average price of $39.60 per share, with a total value of $39,600.00. Following the completion of the acquisition, the director owned 5,000 shares of the company’s stock, valued at approximately $198,000. This represents a 25.00% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Hsenghung Sam Hsu acquired 1,000 shares of the firm’s stock in a transaction on Thursday, November 13th. The stock was purchased at an average price of $49.58 per share, with a total value of $49,580.00. Following the transaction, the director owned 10,000 shares of the company’s stock, valued at approximately $495,800. This trade represents a 11.11% increase in their position. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders have bought 3,000 shares of company stock valued at $131,630. Insiders own 0.37% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on FAST shares. Weiss Ratings restated a “buy (b-)” rating on shares of Fastenal in a research note on Monday. Sanford C. Bernstein started coverage on shares of Fastenal in a research note on Tuesday, November 11th. They set an “underperform” rating and a $38.00 price target on the stock. Barclays decreased their price target on shares of Fastenal from $45.00 to $44.00 and set an “equal weight” rating for the company in a report on Thursday, November 13th. UBS Group raised shares of Fastenal from a “hold” rating to a “buy” rating and boosted their price objective for the company from $45.00 to $52.00 in a report on Monday, December 15th. Finally, Robert W. Baird reduced their target price on Fastenal from $53.00 to $49.00 and set an “outperform” rating for the company in a research note on Tuesday, October 14th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $48.73.

Fastenal 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.