Fastenal Company $FAST Shares Purchased by Drucker Wealth 3.0 LLC

Drucker Wealth 3.0 LLC increased its position in shares of Fastenal Company (NASDAQ:FAST) by 87.9% in the third quarter, HoldingsChannel reports. The firm owned 50,969 shares of the company’s stock after acquiring an additional 23,850 shares during the quarter. Drucker Wealth 3.0 LLC’s holdings in Fastenal were worth $2,500,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Twin Peaks Wealth Advisors LLC purchased a new position in shares of Fastenal during the 2nd quarter valued at approximately $27,000. NewSquare Capital LLC raised its holdings in Fastenal by 197.5% in the 2nd quarter. NewSquare Capital LLC now owns 714 shares of the company’s stock worth $30,000 after purchasing an additional 474 shares during the period. MV Capital Management Inc. raised its holdings in Fastenal by 96.1% in the 2nd quarter. MV Capital Management Inc. now owns 712 shares of the company’s stock worth $30,000 after purchasing an additional 349 shares during the period. SOA Wealth Advisors LLC. boosted its position in Fastenal by 71.6% during the third quarter. SOA Wealth Advisors LLC. now owns 611 shares of the company’s stock worth $30,000 after purchasing an additional 255 shares in the last quarter. Finally, REAP Financial Group LLC acquired a new stake in Fastenal in the third quarter valued at approximately $30,000. Hedge funds and other institutional investors own 81.38% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on FAST. UBS Group reaffirmed a “neutral” rating and set a $46.00 target price on shares of Fastenal in a research note on Wednesday, January 21st. Barclays set a $43.00 price target on shares of Fastenal and gave the stock an “equal weight” rating in a research note on Wednesday, January 21st. Wolfe Research dropped their price objective on shares of Fastenal from $43.00 to $42.00 and set an “underperform” rating for the company in a research note on Wednesday, January 21st. Jefferies Financial Group set a $52.00 price objective on shares of Fastenal and gave the company a “buy” rating in a report on Monday, December 15th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Fastenal in a research report on Monday, December 29th. Four investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, Fastenal presently has a consensus rating of “Hold” and a consensus price target of $48.18.

Fastenal Stock Down 1.6%

Shares of NASDAQ FAST opened at $45.69 on Wednesday. The company has a market capitalization of $52.46 billion, a price-to-earnings ratio of 41.54, a price-to-earnings-growth ratio of 2.96 and a beta of 0.89. Fastenal Company has a 1 year low of $35.31 and a 1 year high of $50.63. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.85 and a quick ratio of 2.41. The business has a 50-day moving average of $43.30 and a two-hundred day moving average of $44.42.

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

Fastenal Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 26th. Stockholders of record on Thursday, January 29th will be issued a $0.24 dividend. The ex-dividend date of this dividend is Thursday, January 29th. This is an increase from Fastenal’s previous quarterly dividend of $0.22. This represents a $0.96 annualized dividend and a dividend yield of 2.1%. Fastenal’s dividend payout ratio is currently 87.27%.

Insider Transactions at Fastenal

In other Fastenal news, Director Scott Satterlee sold 15,964 shares of Fastenal stock in a transaction on Friday, January 23rd. The shares were sold at an average price of $44.19, for a total value of $705,449.16. Following the transaction, the director directly owned 50,000 shares in the company, valued at approximately $2,209,500. The trade was a 24.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.37% of the company’s stock.

About Fastenal

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.