Icon Wealth Partners LLC reduced its position in Fastenal (NASDAQ:FAST – Get Rating) by 7.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 30,298 shares of the company’s stock after selling 2,596 shares during the period. Icon Wealth Partners LLC’s holdings in Fastenal were worth $1,800,000 as of its most recent SEC filing.
Several other institutional investors have also recently added to or reduced their stakes in FAST. Ellevest Inc. boosted its holdings in shares of Fastenal by 103.2% during the first quarter. Ellevest Inc. now owns 1,908 shares of the company’s stock worth $113,000 after purchasing an additional 969 shares during the period. Prosperity Consulting Group LLC boosted its holdings in shares of Fastenal by 2.9% during the first quarter. Prosperity Consulting Group LLC now owns 9,227 shares of the company’s stock worth $548,000 after purchasing an additional 259 shares during the period. TCW Group Inc. acquired a new stake in shares of Fastenal during the first quarter worth approximately $2,642,000. Resonant Capital Advisors LLC boosted its holdings in shares of Fastenal by 5.2% during the first quarter. Resonant Capital Advisors LLC now owns 12,338 shares of the company’s stock worth $736,000 after purchasing an additional 610 shares during the period. Finally, PFG Advisors boosted its holdings in shares of Fastenal by 1.9% during the first quarter. PFG Advisors now owns 15,885 shares of the company’s stock worth $944,000 after purchasing an additional 300 shares during the period. 77.89% of the stock is currently owned by institutional investors and hedge funds.
A number of analysts have issued reports on FAST shares. Robert W. Baird lifted their target price on shares of Fastenal from $64.00 to $66.00 in a research note on Monday, March 7th. Wells Fargo & Company lifted their price target on shares of Fastenal from $58.00 to $60.00 and gave the company an “equal weight” rating in a research report on Thursday, April 14th. Morgan Stanley lifted their price target on shares of Fastenal from $53.00 to $56.00 and gave the company an “underweight” rating in a research report on Thursday, April 14th. Finally, StockNews.com raised shares of Fastenal from a “hold” rating to a “buy” rating in a research report on Saturday, June 4th. One equity research analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Fastenal currently has a consensus rating of “Hold” and a consensus target price of $60.80.
Shares of NASDAQ FAST opened at $49.71 on Thursday. The firm’s 50-day simple moving average is $52.79 and its 200-day simple moving average is $55.77. The company has a market cap of $28.61 billion, a price-to-earnings ratio of 29.07, a price-to-earnings-growth ratio of 3.07 and a beta of 1.29. The company has a quick ratio of 1.92, a current ratio of 4.07 and a debt-to-equity ratio of 0.11. Fastenal has a 12-month low of $48.10 and a 12-month high of $64.75.
Fastenal (NASDAQ:FAST – Get Rating) last issued its quarterly earnings results on Wednesday, April 13th. The company reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.03. Fastenal had a net margin of 15.63% and a return on equity of 32.72%. The business had revenue of $1.70 billion for the quarter, compared to the consensus estimate of $1.69 billion. During the same quarter in the previous year, the company earned $0.37 EPS. The firm’s quarterly revenue was up 20.3% on a year-over-year basis. On average, equities analysts expect that Fastenal will post 1.88 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 25th. Shareholders of record on Wednesday, April 27th were given a dividend of $0.31 per share. The ex-dividend date was Tuesday, April 26th. This represents a $1.24 dividend on an annualized basis and a yield of 2.49%. Fastenal’s payout ratio is currently 72.52%.
In other Fastenal news, EVP James C. Jansen bought 1,000 shares of the stock in a transaction that occurred on Wednesday, June 15th. The stock was acquired at an average cost of $48.92 per share, with a total value of $48,920.00. Following the purchase, the executive vice president now owns 26,176 shares in the company, valued at $1,280,529.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael J. Ancius bought 650 shares of the stock in a transaction that occurred on Thursday, April 14th. The shares were acquired at an average cost of $56.41 per share, with a total value of $36,666.50. Following the completion of the purchase, the director now owns 25,952 shares in the company, valued at approximately $1,463,952.32. The disclosure for this purchase can be found here. Over the last 90 days, insiders have acquired 3,563 shares of company stock worth $182,773. Corporate insiders own 0.40% of the company’s stock.
About Fastenal: (Get Rating)
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, which are used in manufactured products and construction projects, as well as in the maintenance and repair of machines.
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