Baron Wealth Management LLC Grows Stake in Fastenal (NASDAQ:FAST)

Baron Wealth Management LLC grew its holdings in Fastenal (NASDAQ:FAST) by 9.7% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 10,141 shares of the company’s stock after buying an additional 897 shares during the quarter. Baron Wealth Management LLC’s holdings in Fastenal were worth $724,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of FAST. Ashton Thomas Securities LLC purchased a new position in shares of Fastenal in the 3rd quarter valued at approximately $25,000. Central Valley Advisors LLC purchased a new position in shares of Fastenal in the 2nd quarter valued at approximately $28,000. Triad Wealth Partners LLC purchased a new position in shares of Fastenal in the 2nd quarter valued at approximately $32,000. Crewe Advisors LLC lifted its stake in shares of Fastenal by 528.4% in the 2nd quarter. Crewe Advisors LLC now owns 509 shares of the company’s stock valued at $32,000 after purchasing an additional 428 shares during the period. Finally, Moisand Fitzgerald Tamayo LLC lifted its stake in shares of Fastenal by 1,019.0% in the 3rd quarter. Moisand Fitzgerald Tamayo LLC now owns 470 shares of the company’s stock valued at $34,000 after purchasing an additional 428 shares during the period. Hedge funds and other institutional investors own 81.38% of the company’s stock.

Insider Transactions at Fastenal

In other news, insider William Joseph Drazkowski sold 16,362 shares of the business’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $77.65, for a total value of $1,270,509.30. Following the transaction, the insider now directly owns 5,997 shares in the company, valued at $465,667.05. The trade was a 73.18 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Daniel L. Johnson sold 8,474 shares of the business’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $83.36, for a total value of $706,392.64. Following the completion of the transaction, the director now owns 10,595 shares in the company, 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. Insiders have sold a total of 254,033 shares of company stock worth $19,240,434 in the last ninety days. Insiders own 0.41% of the company’s stock.

Fastenal Stock Down 0.1 %

Fastenal stock opened at $81.80 on Tuesday. The firm has a market cap of $46.86 billion, a price-to-earnings ratio of 40.70, a PEG ratio of 4.80 and a beta of 0.99. The stock has a fifty day simple moving average of $75.23 and a two-hundred day simple moving average of $69.33. Fastenal has a 12 month low of $59.47 and a 12 month high of $84.88. The company has a current ratio of 4.40, a quick ratio of 2.29 and a debt-to-equity ratio of 0.03.

Fastenal (NASDAQ:FAST) last released its quarterly earnings results on Friday, October 11th. The company reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.01. The firm had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.90 billion. Fastenal had a return on equity of 33.30% and a net margin of 15.44%. The company’s revenue for the quarter was up 3.5% on a year-over-year basis. During the same period last year, the business posted $0.52 EPS. Equities analysts predict that Fastenal will post 2.03 EPS for the current fiscal year.

Fastenal Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Friday, October 25th will be paid a $0.39 dividend. The ex-dividend date of this dividend is Friday, October 25th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 1.91%. Fastenal’s dividend payout ratio (DPR) is currently 77.61%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on FAST. Robert W. Baird raised their target price on Fastenal from $67.00 to $80.00 and gave the company a “neutral” rating in a research note on Monday, October 14th. Morgan Stanley raised their price objective on 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 started coverage on Fastenal in a research report on Monday, October 7th. They set a “buy” rating and a $85.00 price objective for the company. Stephens raised their price objective on Fastenal from $56.00 to $75.00 and gave the company an “equal weight” rating in a research report on Monday, October 14th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $86.00 price objective (up previously from $80.00) on shares of Fastenal in a research report on Monday, October 14th. Eight investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target 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.