Curi RMB Capital LLC Acquires 990 Shares of Fastenal (NASDAQ:FAST)

Curi RMB Capital LLC increased its stake in Fastenal (NASDAQ:FAST) by 3.0% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 34,375 shares of the company’s stock after purchasing an additional 990 shares during the quarter. Curi RMB Capital LLC’s holdings in Fastenal were worth $2,455,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the stock. Aaron Wealth Advisors LLC acquired a new position in shares of Fastenal during the third quarter valued at about $310,000. Cetera Investment Advisers raised its stake in Fastenal by 499.7% during the 1st quarter. Cetera Investment Advisers now owns 132,046 shares of the company’s stock worth $10,186,000 after buying an additional 110,027 shares during the period. M&G Plc acquired a new stake in Fastenal in the first quarter valued at approximately $11,212,000. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Fastenal by 5.7% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 210,998 shares of the company’s stock valued at $13,259,000 after acquiring an additional 11,436 shares in the last quarter. Finally, Peak Financial Advisors LLC acquired a new position in shares of Fastenal during the second quarter worth approximately $2,643,000. Institutional investors and hedge funds own 81.38% of the company’s stock.

Fastenal Price Performance

Shares of NASDAQ:FAST opened at $81.85 on Friday. The company has a market capitalization of $46.89 billion, a P/E ratio of 40.72, a price-to-earnings-growth ratio of 4.90 and a beta of 0.99. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.29 and a current ratio of 4.40. Fastenal has a fifty-two week low of $59.47 and a fifty-two week high of $84.88. The company’s 50-day moving average is $74.64 and its 200 day moving average is $69.13.

Fastenal (NASDAQ:FAST) last announced its quarterly earnings data on Friday, October 11th. The company reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.01. The business had revenue of $1.91 billion during the quarter, compared to analyst estimates of $1.90 billion. Fastenal had a return on equity of 33.30% and a net margin of 15.44%. Fastenal’s revenue was up 3.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.52 earnings per share. On average, equities research analysts forecast 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 given a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 1.91%. The ex-dividend date of this dividend is Friday, October 25th. Fastenal’s dividend payout ratio (DPR) is currently 77.61%.

Insider Activity at Fastenal

In other Fastenal news, EVP Anthony Paul Broersma sold 680 shares of Fastenal stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $77.86, for a total transaction of $52,944.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Charles S. Miller sold 23,480 shares of the stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $83.92, for a total transaction of $1,970,441.60. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 254,033 shares of company stock worth $19,240,434. 0.41% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. JPMorgan Chase & Co. lifted their price target on shares of Fastenal from $57.00 to $63.00 and gave the company a “neutral” rating in a research report on Thursday, October 10th. Stephens boosted their target price on shares of Fastenal from $56.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Monday, October 14th. Morgan Stanley raised their price target on shares of 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 Fastenal in a report on Monday, October 7th. They set a “buy” rating and a $85.00 price objective for the company. Finally, UBS Group assumed coverage on Fastenal in a research report on Wednesday. They set a “neutral” rating and a $88.00 target price on the stock. Eight equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $74.80.

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.