Sequoia Financial Advisors LLC purchased a new position in shares of Fastenal (NASDAQ:FAST – Get Rating) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 5,439 shares of the company’s stock, valued at approximately $257,000.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Old North State Trust LLC bought a new stake in Fastenal during the 3rd quarter valued at $31,000. Armstrong Advisory Group Inc. acquired a new position in Fastenal during the 4th quarter valued at about $39,000. Guardian Wealth Advisors LLC acquired a new position in Fastenal during the 3rd quarter valued at about $42,000. Ellevest Inc. increased its position in Fastenal by 55.4% during the 3rd quarter. Ellevest Inc. now owns 1,270 shares of the company’s stock valued at $58,000 after buying an additional 453 shares in the last quarter. Finally, Nelson Van Denburg & Campbell Wealth Management Group LLC increased its holdings in shares of Fastenal by 40.0% in the third quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 1,399 shares of the company’s stock valued at $64,000 after purchasing an additional 400 shares during the period. 76.99% of the stock is owned by institutional investors.
Fastenal Stock Performance
NASDAQ FAST opened at $52.82 on Friday. The company has a market cap of $30.16 billion, a PE ratio of 27.80, a price-to-earnings-growth ratio of 3.00 and a beta of 1.19. The stock’s 50 day simple moving average is $52.06 and its 200-day simple moving average is $49.79. Fastenal has a 1-year low of $43.73 and a 1-year high of $60.74. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.96 and a quick ratio of 1.79.
Fastenal Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, March 2nd. Investors of record on Thursday, February 2nd were issued a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 2.65%. The ex-dividend date of this dividend was Wednesday, February 1st. This is a boost from Fastenal’s previous quarterly dividend of $0.31. Fastenal’s dividend payout ratio (DPR) is currently 73.68%.
Wall Street Analysts Forecast Growth
A number of brokerages have recently weighed in on FAST. Loop Capital cut their price objective on Fastenal from $54.00 to $53.00 and set a “hold” rating on the stock in a report on Monday, January 23rd. StockNews.com upgraded Fastenal from a “hold” rating to a “buy” rating in a research report on Tuesday. Finally, Morgan Stanley lowered their price target on Fastenal from $43.00 to $42.00 and set an “underweight” rating on the stock in a research report on Friday, January 6th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $51.14.
Insider Activity at Fastenal
In related news, VP Terry Modock Owen sold 15,000 shares of the stock in a transaction that occurred on Tuesday, February 7th. The stock was sold at an average price of $53.24, for a total value of $798,600.00. Following the completion of the sale, the vice president now owns 7,000 shares of the company’s stock, valued at $372,680. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.45% of the company’s stock.
About Fastenal
Fastenal Co engages in the distribution of fasteners and tools. It also operates hardware stores. The company was founded by Robert A. Kierlin, Michael M. Gostomski, Henry K. McCannon, John D. Remick, and Stephen M. Slaggie in November 1967 and is headquartered in Winona, MN.
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