Fastenal Company $FAST Shares Sold by CoreCap Advisors LLC

CoreCap Advisors LLC reduced its position in Fastenal Company (NASDAQ:FAST) by 16.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 80,420 shares of the company’s stock after selling 16,009 shares during the quarter. CoreCap Advisors LLC’s holdings in Fastenal were worth $3,944,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Riverview Trust Co grew its stake in Fastenal by 100.0% during the 2nd quarter. Riverview Trust Co now owns 584 shares of the company’s stock worth $25,000 after buying an additional 292 shares during the last quarter. 1248 Management LLC purchased a new stake in Fastenal in the first quarter valued at about $45,000. SOA Wealth Advisors LLC. raised its stake in Fastenal by 71.6% in the third quarter. SOA Wealth Advisors LLC. now owns 611 shares of the company’s stock valued at $30,000 after buying an additional 255 shares during the last quarter. Private Wealth Management Group LLC boosted its holdings in Fastenal by 111.9% in the second quarter. Private Wealth Management Group LLC now owns 642 shares of the company’s stock worth $27,000 after acquiring an additional 339 shares in the last quarter. Finally, Twin Peaks Wealth Advisors LLC purchased a new stake in shares of Fastenal during the second quarter worth about $27,000. Hedge funds and other institutional investors own 81.38% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on FAST. Robert W. Baird decreased their price objective on shares of Fastenal from $53.00 to $49.00 and set an “outperform” rating for the company in a research report on Tuesday, October 14th. UBS Group upgraded shares of Fastenal from a “hold” rating to a “buy” rating and upped their price target for the company from $45.00 to $52.00 in a research note on Monday, December 15th. Sanford C. Bernstein reiterated an “underperform” rating on shares of Fastenal in a research note on Monday, December 29th. Barclays dropped their price objective on shares of Fastenal from $45.00 to $44.00 and set an “equal weight” rating on the stock in a report on Thursday, November 13th. Finally, Wolfe Research upgraded Fastenal from an “underperform” rating to a “peer perform” rating and set a $43.00 target price for the company in a research note on Thursday, November 13th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $48.73.

Insider Activity at Fastenal

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

Fastenal Stock Down 2.2%

NASDAQ:FAST opened at $40.62 on Thursday. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.26 and a quick ratio of 2.19. The company’s fifty day moving average price is $40.99 and its 200-day moving average price is $44.37. Fastenal Company has a 1-year low of $35.31 and a 1-year high of $50.63. The firm has a market capitalization of $46.63 billion, a P/E ratio of 37.96, a PEG ratio of 2.98 and a beta of 0.90.

Fastenal (NASDAQ:FAST) last posted its quarterly 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 business had revenue of $2.13 billion during the quarter, compared to analysts’ expectations of $2.13 billion. Fastenal had a net margin of 15.34% and a return on equity of 32.69%. Fastenal’s revenue for the quarter was up 11.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.26 earnings per share. As a group, equities research analysts anticipate that Fastenal Company will post 2.15 EPS for the current year.

Fastenal Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, November 25th. Investors of record on Tuesday, October 28th were issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend was Tuesday, October 28th. Fastenal’s dividend payout ratio (DPR) is 82.24%.

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.