Capital Planning Advisors LLC Decreases Position in Fastenal (NASDAQ:FAST)

Capital Planning Advisors LLC cut its stake in shares of Fastenal (NASDAQ:FAST) by 4.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,295 shares of the company’s stock after selling 304 shares during the period. Capital Planning Advisors LLC’s holdings in Fastenal were worth $453,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of FAST. Ashton Thomas Securities LLC purchased a new stake in shares of Fastenal in the third quarter worth approximately $25,000. Knuff & Co LLC purchased a new position in Fastenal during the 3rd quarter worth $27,000. Moisand Fitzgerald Tamayo LLC increased its holdings in Fastenal by 1,019.0% during the 3rd quarter. Moisand Fitzgerald Tamayo LLC now owns 470 shares of the company’s stock worth $34,000 after purchasing an additional 428 shares during the period. First Personal Financial Services purchased a new position in Fastenal during the 3rd quarter worth $36,000. Finally, CVA Family Office LLC increased its holdings in Fastenal by 51.0% during 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 during the period. 81.38% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Fastenal

In related news, VP Charles S. Miller sold 23,480 shares of Fastenal stock in a transaction dated 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 Securities & Exchange Commission, which is accessible through this link. Also, CEO Daniel L. Florness sold 31,818 shares of Fastenal stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $84.50, for a total value of $2,688,621.00. Following the completion of the transaction, the chief executive officer now owns 286,018 shares of the company’s stock, valued at approximately $24,168,521. This represents a 10.01 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 74,660 shares of company stock worth $6,211,126. Insiders own 0.41% of the company’s stock.

Fastenal Stock Performance

NASDAQ FAST opened at $75.91 on Thursday. The stock has a 50-day simple moving average of $77.44 and a two-hundred day simple moving average of $73.27. The firm has a market capitalization of $43.49 billion, a P/E ratio of 37.79, a PEG ratio of 4.24 and a beta of 1.02. Fastenal has a fifty-two week low of $61.36 and a fifty-two week high of $84.88. 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 (NASDAQ:FAST) last released its quarterly earnings data on Friday, January 17th. The company reported $0.46 earnings per share for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.02). The company had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1,842,560.16 billion. Fastenal had a net margin of 15.25% and a return on equity of 32.55%. The business’s quarterly revenue was up 3.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.46 EPS. On average, equities analysts forecast that Fastenal will post 2.16 earnings per share for the current year.

Fastenal Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, January 31st will be paid a dividend of $0.43 per share. The ex-dividend date is Friday, January 31st. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.27%. This is a positive change from Fastenal’s previous quarterly dividend of $0.39. Fastenal’s dividend payout ratio (DPR) is presently 77.61%.

Analyst Ratings Changes

Several analysts have issued reports on the company. JPMorgan Chase & Co. increased their target price on Fastenal from $57.00 to $63.00 and gave the company a “neutral” rating in a research report on Thursday, October 10th. Jefferies Financial Group raised their price objective on Fastenal from $74.00 to $85.00 and gave the stock a “hold” rating in a research report on Friday, December 6th. Robert W. Baird raised their price objective on Fastenal from $67.00 to $80.00 and gave the stock a “neutral” rating in a research report on Monday, October 14th. Stephens raised their price objective on Fastenal from $56.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Monday, October 14th. Finally, Bank of America began coverage on Fastenal in a research report on Monday, October 7th. They set a “buy” rating and a $85.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $76.91.

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.