Fastenal (NASDAQ:FAST) Stock Holdings Lifted by Moisand Fitzgerald Tamayo LLC

Moisand Fitzgerald Tamayo LLC increased its position in Fastenal (NASDAQ:FAST) by 1,019.0% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 470 shares of the company’s stock after acquiring an additional 428 shares during the period. Moisand Fitzgerald Tamayo LLC’s holdings in Fastenal were worth $34,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of FAST. Baird Financial Group Inc. increased its holdings in shares of Fastenal by 15.2% in the 4th quarter. Baird Financial Group Inc. now owns 7,928,209 shares of the company’s stock worth $513,510,000 after acquiring an additional 1,043,529 shares during the period. Bontempo Ohly Capital Mgmt LLC increased its holdings in shares of Fastenal by 1.6% in the 4th quarter. Bontempo Ohly Capital Mgmt LLC now owns 80,759 shares of the company’s stock worth $5,231,000 after acquiring an additional 1,296 shares during the period. Sanibel Captiva Trust Company Inc. acquired a new stake in shares of Fastenal in the 4th quarter worth about $12,839,000. D L Carlson Investment Group Inc. acquired a new stake in shares of Fastenal in the 4th quarter worth about $4,125,000. Finally, Taylor Financial Group Inc. acquired a new stake in shares of Fastenal in the 4th quarter worth about $279,000. Institutional investors and hedge funds own 81.38% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. JPMorgan Chase & Co. increased their price objective on shares of Fastenal from $57.00 to $63.00 and gave the stock a “neutral” rating in a report on Thursday. Bank of America assumed coverage on shares of Fastenal in a research note on Monday. They set a “buy” rating and a $85.00 target price on the stock. Morgan Stanley assumed coverage on shares of Fastenal in a research note on Friday, September 6th. They set an “equal weight” rating and a $72.00 target price on the stock. Stifel Nicolaus reissued a “buy” rating and set a $80.00 target price (down previously from $85.00) on shares of Fastenal in a research note on Monday, July 15th. Finally, Stephens reissued an “equal weight” rating and set a $56.00 target price on shares of Fastenal in a research note on Monday, July 15th. Seven investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $68.89.

Fastenal Stock Performance

Shares of FAST opened at $69.99 on Friday. The firm’s 50 day moving average is $68.58 and its 200-day moving average is $68.02. The stock has a market capitalization of $40.08 billion, a P/E ratio of 34.82, a P/E/G ratio of 4.13 and a beta of 1.01. The company has a debt-to-equity ratio of 0.04, a current ratio of 4.39 and a quick ratio of 2.29. Fastenal has a 12-month low of $55.42 and a 12-month high of $79.04.

Fastenal (NASDAQ:FAST) last announced its quarterly earnings data on Friday, October 11th. The company reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.01. The company had revenue of $1.91 billion for the quarter, compared to analysts’ expectations of $1.90 billion. Fastenal had a net margin of 15.54% and a return on equity of 33.54%. The business’s revenue was up 3.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.52 EPS. Equities research analysts anticipate that Fastenal will post 2.04 EPS for the current fiscal year.

Fastenal Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Friday, October 25th will be paid a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 2.23%. Fastenal’s dividend payout ratio is currently 77.61%.

Insider Transactions at Fastenal

In other Fastenal news, CEO Daniel L. Florness sold 50,000 shares of the firm’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $69.68, for a total value of $3,484,000.00. Following the completion of the transaction, the chief executive officer now directly owns 286,018 shares in the company, valued at $19,929,734.24. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, CEO Daniel L. Florness sold 45,744 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $68.14, for a total transaction of $3,116,996.16. Following the completion of the sale, the chief executive officer now directly owns 286,018 shares in the company, valued at approximately $19,489,266.52. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Daniel L. Florness sold 50,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $69.68, for a total transaction of $3,484,000.00. Following the sale, the chief executive officer now owns 286,018 shares of the company’s stock, valued at approximately $19,929,734.24. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.41% of the company’s stock.

Fastenal Company Profile

Fastenal Company, together with its subsidiaries, engages in the wholesale distribution of industrial and construction supplies in the United States, Canada, Mexico, North America, and internationally. It offers fasteners, and related industrial and construction supplies under the Fastenal name. The company's fastener products include threaded fasteners, bolts, nuts, screws, studs, and related washers that are used in manufactured products and construction projects, as well as in the maintenance and repair of machines.