Fidelis Capital Partners LLC Has $1.22 Million Stake in Fastenal Company $FAST

Fidelis Capital Partners LLC lessened its stake in Fastenal Company (NASDAQ:FAST) by 41.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 24,845 shares of the company’s stock after selling 17,712 shares during the period. Fidelis Capital Partners LLC’s holdings in Fastenal were worth $1,218,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in FAST. Riverview Trust Co lifted its position in shares of Fastenal by 100.0% in the 2nd quarter. Riverview Trust Co now owns 584 shares of the company’s stock worth $25,000 after acquiring an additional 292 shares during the period. SOA Wealth Advisors LLC. raised its stake in shares of 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 purchasing an additional 255 shares in the last quarter. Private Wealth Management Group LLC lifted its position 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 purchasing an additional 339 shares during the period. Twin Peaks Wealth Advisors LLC acquired a new stake in Fastenal during the second quarter worth $27,000. Finally, Hilltop National Bank bought a new stake in Fastenal in the 2nd quarter valued at $27,000. 81.38% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Fastenal

In other news, Director Sarah N. Nielsen purchased 1,000 shares of the firm’s stock in a transaction dated 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 acquisition, the director directly 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Hsenghung Sam Hsu acquired 1,000 shares of the stock in a transaction that occurred 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 in the company, valued at $495,800. This represents a 11.11% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Corporate insiders own 0.37% of the company’s stock.

Wall Street Analysts Forecast Growth

FAST has been the topic of a number of recent research reports. Jefferies Financial Group set a $52.00 price objective on Fastenal and gave the company a “buy” rating in a report on Monday, December 15th. Sanford C. Bernstein reissued an “underperform” rating on shares of Fastenal in a report on Wednesday, January 21st. Barclays set a $43.00 target price on shares of Fastenal and gave the stock an “equal weight” rating in a research report on Wednesday, January 21st. Weiss Ratings reiterated a “buy (b-)” rating on shares of Fastenal in a research report on Monday, December 29th. Finally, Robert W. Baird dropped their target price on shares of Fastenal from $53.00 to $49.00 and set an “outperform” rating for the company in a research note on Tuesday, October 14th. Four investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $48.00.

Fastenal Stock Performance

Shares of Fastenal stock opened at $43.32 on Friday. The firm has a fifty day moving average of $41.79 and a two-hundred day moving average of $44.45. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.41 and a current ratio of 4.85. The stock has a market capitalization of $49.73 billion, a price-to-earnings ratio of 39.38, a PEG ratio of 2.78 and a beta of 0.90. Fastenal Company has a 52 week low of $35.31 and a 52 week high of $50.63.

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

Fastenal Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, February 26th. Investors of record on Thursday, January 29th will be given a $0.24 dividend. The ex-dividend date is Thursday, January 29th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.2%. This is a positive change from Fastenal’s previous quarterly dividend of $0.22. Fastenal’s dividend payout ratio is 80.00%.

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.