Tyche Wealth Partners LLC Invests $654,000 in Fastenal (NASDAQ:FAST)

Tyche Wealth Partners LLC acquired a new stake in Fastenal (NASDAQ:FAST) in the 4th quarter, according to the company in its most recent filing with the SEC. The firm acquired 9,093 shares of the company’s stock, valued at approximately $654,000.

Several other large investors have also recently made changes to their positions in the business. Ashton Thomas Securities LLC bought a new position in shares of Fastenal in the third quarter worth $25,000. Knuff & Co LLC purchased a new position in shares of Fastenal in the 3rd quarter worth about $27,000. Moisand Fitzgerald Tamayo LLC boosted its position in shares of Fastenal by 1,019.0% during the third quarter. Moisand Fitzgerald Tamayo LLC now owns 470 shares of the company’s stock valued at $34,000 after buying an additional 428 shares during the last quarter. First Personal Financial Services purchased a new stake in Fastenal during the third quarter valued at $36,000. Finally, CVA Family Office LLC increased its stake in shares of Fastenal by 51.0% in the 3rd quarter. CVA Family Office LLC now owns 533 shares of the company’s stock worth $38,000 after purchasing an additional 180 shares in the last quarter. 81.38% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on FAST shares. Stifel Nicolaus cut their price target on Fastenal from $86.00 to $82.00 and set a “hold” rating for the company in a report on Tuesday, January 21st. Robert W. Baird upped their target price on Fastenal from $67.00 to $80.00 and gave the stock a “neutral” rating in a report on Monday, October 14th. Stephens upped 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. Wolfe Research increased their price target on Fastenal from $74.00 to $76.00 and gave the company an “underweight” rating in a research note on Thursday, January 16th. Finally, HSBC cut shares of Fastenal from a “hold” rating to a “reduce” rating and set a $70.00 target price for the company. in a report on Wednesday, December 11th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $76.91.

Fastenal Trading Up 0.5 %

NASDAQ:FAST opened at $73.54 on Thursday. The stock has a fifty day moving average price of $76.02 and a 200 day moving average price of $73.85. The company has a current ratio of 4.67, a quick ratio of 2.28 and a debt-to-equity ratio of 0.03. The firm has a market cap of $42.13 billion, a PE ratio of 36.59, a price-to-earnings-growth ratio of 3.48 and a beta of 1.02. Fastenal has a 12-month low of $61.36 and a 12-month high of $84.88.

Fastenal (NASDAQ:FAST) last issued its quarterly earnings results on Friday, January 17th. The company reported $0.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.02). The firm had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1.84 billion. Fastenal had a return on equity of 32.55% and a net margin of 15.25%. The firm’s revenue was up 3.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.46 EPS. Sell-side analysts anticipate that Fastenal will post 2.15 earnings per share for the current fiscal year.

Fastenal Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, January 31st will be issued a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.34%. This is a boost from Fastenal’s previous quarterly dividend of $0.39. The ex-dividend date is Friday, January 31st. Fastenal’s payout ratio is presently 85.57%.

Insider Activity

In related news, CEO Daniel L. Florness sold 31,818 shares of Fastenal stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $84.50, for a total transaction of $2,688,621.00. Following the completion of the transaction, the chief executive officer now directly owns 286,018 shares in the company, valued at $24,168,521. The trade was a 10.01 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Daniel L. Johnson sold 8,474 shares of Fastenal stock in a transaction that occurred 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 completion of 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 ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 63,772 shares of company stock valued at $5,365,455. Company 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.