WoodTrust Financial Corp Acquires 1,750 Shares of Fastenal (NASDAQ:FAST)

WoodTrust Financial Corp raised its position in Fastenal (NASDAQ:FAST) by 5.3% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 34,875 shares of the company’s stock after acquiring an additional 1,750 shares during the period. WoodTrust Financial Corp’s holdings in Fastenal were worth $2,491,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of FAST. Harvest Portfolios Group Inc. boosted its holdings in Fastenal by 15.4% during the third quarter. Harvest Portfolios Group Inc. now owns 14,888 shares of the company’s stock valued at $1,063,000 after purchasing an additional 1,982 shares in the last quarter. Catalina Capital Group LLC grew its holdings in shares of Fastenal by 4.5% during the third quarter. Catalina Capital Group LLC now owns 3,359 shares of the company’s stock worth $240,000 after purchasing an additional 146 shares during the last quarter. Crestwood Advisors Group LLC increased its position in Fastenal by 15.0% in the 3rd quarter. Crestwood Advisors Group LLC now owns 6,068 shares of the company’s stock valued at $433,000 after acquiring an additional 792 shares in the last quarter. Amalgamated Bank raised its position in Fastenal by 4.2% in the 3rd quarter. Amalgamated Bank now owns 127,071 shares of the company’s stock worth $9,075,000 after purchasing an additional 5,132 shares during the last quarter. Finally, Moloney Securities Asset Management LLC raised its position in shares of Fastenal by 14.5% during the third quarter. Moloney Securities Asset Management LLC now owns 8,592 shares of the company’s stock worth $614,000 after acquiring an additional 1,091 shares during the last quarter. 81.38% of the stock is currently owned by institutional investors and hedge funds.

Fastenal Stock Performance

NASDAQ:FAST opened at $83.57 on Thursday. The company has a current ratio of 4.40, a quick ratio of 2.29 and a debt-to-equity ratio of 0.03. The stock has a 50 day simple moving average of $72.67 and a 200 day simple moving average of $68.48. Fastenal has a 1-year low of $58.28 and a 1-year high of $83.80. The stock has a market cap of $47.88 billion, a P/E ratio of 41.58, a PEG ratio of 4.56 and a beta of 0.99.

Fastenal (NASDAQ:FAST) last posted its quarterly earnings data on Friday, October 11th. The company reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.01. Fastenal had a return on equity of 33.30% and a net margin of 15.44%. The firm had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.90 billion. During the same quarter last year, the company earned $0.52 EPS. The company’s revenue was up 3.5% on a year-over-year basis. Research analysts anticipate that Fastenal will post 2.03 earnings per share for the current year.

Fastenal Announces Dividend

The firm also recently declared 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. The ex-dividend date of this dividend is Friday, October 25th. This represents a $1.56 annualized dividend and a dividend yield of 1.87%. Fastenal’s payout ratio is 77.61%.

Analyst Ratings Changes

A number of research firms have recently weighed in on FAST. Stifel Nicolaus reissued a “buy” rating and issued a $86.00 price target (up previously from $80.00) on shares of Fastenal in a research note on Monday, October 14th. Robert W. Baird increased their price objective on shares of Fastenal from $67.00 to $80.00 and gave the stock a “neutral” rating in a research report on Monday, October 14th. Morgan Stanley lifted their target price on Fastenal from $72.00 to $76.00 and gave the company an “equal weight” rating in a research report on Monday, October 14th. Bank of America assumed coverage on shares of Fastenal in a research report on Monday, October 7th. They set a “buy” rating and a $85.00 price target on the stock. Finally, Stephens increased their price objective on Fastenal from $56.00 to $75.00 and gave the company an “equal weight” rating in a report on Monday, October 14th. Seven analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $73.33.

Insider Activity

In other news, EVP Anthony Paul Broersma sold 680 shares of the stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $77.86, for a total value of $52,944.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Fastenal news, Director Rita J. Heise sold 10,888 shares of the firm’s stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $77.67, for a total value of $845,670.96. Following the completion of the sale, the director now owns 20,000 shares of the company’s stock, valued at approximately $1,553,400. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Anthony Paul Broersma sold 680 shares of the business’s stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $77.86, for a total transaction of $52,944.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 190,261 shares of company stock valued at $13,874,979. 0.41% of the stock is currently owned by corporate insiders.

Fastenal 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.