Absher Wealth Management LLC Buys 505 Shares of Fastenal (NASDAQ:FAST)

Absher Wealth Management LLC boosted its stake in shares of Fastenal (NASDAQ:FAST) by 0.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 333,035 shares of the company’s stock after purchasing an additional 505 shares during the quarter. Fastenal comprises 3.1% of Absher Wealth Management LLC’s holdings, making the stock its 16th largest holding. Absher Wealth Management LLC owned 0.06% of Fastenal worth $23,949,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the company. Czech National Bank increased its position in Fastenal by 6.9% during the 3rd quarter. Czech National Bank now owns 116,654 shares of the company’s stock valued at $8,331,000 after buying an additional 7,559 shares in the last quarter. Atomi Financial Group Inc. grew its stake in shares of Fastenal by 61.5% during the third quarter. Atomi Financial Group Inc. now owns 5,180 shares of the company’s stock worth $370,000 after acquiring an additional 1,972 shares during the last quarter. Brookstone Capital Management increased its holdings in shares of Fastenal by 10.1% during the third quarter. Brookstone Capital Management now owns 4,986 shares of the company’s stock valued at $356,000 after acquiring an additional 456 shares in the last quarter. Marquette Asset Management LLC purchased a new position in shares of Fastenal in the 3rd quarter valued at approximately $241,000. Finally, True North Advisors LLC boosted its stake in Fastenal by 5.2% in the 3rd quarter. True North Advisors LLC now owns 33,200 shares of the company’s stock worth $2,371,000 after purchasing an additional 1,650 shares in the last quarter. 81.38% of the stock is currently owned by institutional investors.

Fastenal Trading Up 0.5 %

Shares of Fastenal stock opened at $73.54 on Thursday. The firm has a 50-day simple moving average of $76.02 and a two-hundred day simple moving average of $73.85. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.28 and a current ratio of 4.67. Fastenal has a fifty-two week low of $61.36 and a fifty-two week high of $84.88. The company has a market cap of $42.13 billion, a P/E ratio of 36.59, a price-to-earnings-growth ratio of 3.48 and a beta of 1.02.

Fastenal (NASDAQ:FAST) last announced its earnings results on Friday, January 17th. The company reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.02). Fastenal had a return on equity of 32.55% and a net margin of 15.25%. The business had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.84 billion. During the same period in the previous year, the company earned $0.46 earnings per share. The company’s quarterly revenue was up 3.7% compared to the same quarter last year. As a group, equities analysts predict that Fastenal will post 2.15 earnings per share for the current fiscal year.

Fastenal Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, January 31st will be given a $0.43 dividend. This is a positive change from Fastenal’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend is Friday, January 31st. This represents a $1.72 annualized dividend and a dividend yield of 2.34%. Fastenal’s dividend payout ratio (DPR) is 85.57%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on FAST shares. Robert W. Baird upped their price target on shares of Fastenal from $67.00 to $80.00 and gave the company a “neutral” rating in a research note on Monday, October 14th. UBS Group initiated coverage on Fastenal in a research note on Wednesday, November 13th. They issued a “neutral” rating and a $88.00 target price for the company. Hsbc Global Res downgraded Fastenal from a “hold” rating to a “moderate sell” rating in a research note on Wednesday, December 11th. Wolfe Research increased their price objective on Fastenal from $74.00 to $76.00 and gave the company an “underweight” rating in a report on Thursday, January 16th. Finally, Stephens lifted their target price on Fastenal from $56.00 to $75.00 and gave the stock an “equal weight” rating in a report on Monday, October 14th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $76.91.

Insider Transactions at Fastenal

In other Fastenal news, VP Charles S. Miller sold 23,480 shares of the firm’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $83.92, for a total value of $1,970,441.60. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Daniel L. Johnson sold 8,474 shares of the company’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $83.36, for a total transaction of $706,392.64. Following the sale, the director now directly owns 10,595 shares of the company’s stock, valued at $883,199.20. The trade was a 44.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 63,772 shares of company stock valued at $5,365,455 over the last 90 days. Corporate insiders own 0.41% of the company’s stock.

About Fastenal

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.