Resonant Capital Advisors LLC Sells 1,312 Shares of Fastenal (NASDAQ:FAST)

Resonant Capital Advisors LLC cut its position in Fastenal (NASDAQ:FAST) by 9.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,119 shares of the company’s stock after selling 1,312 shares during the quarter. Resonant Capital Advisors LLC’s holdings in Fastenal were worth $850,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Raymond James & Associates boosted its position in Fastenal by 3.7% during the fourth quarter. Raymond James & Associates now owns 900,171 shares of the company’s stock worth $58,304,000 after purchasing an additional 31,814 shares during the period. International Assets Investment Management LLC bought a new position in Fastenal during the fourth quarter worth $13,204,000. Assenagon Asset Management S.A. boosted its position in Fastenal by 178.1% during the fourth quarter. Assenagon Asset Management S.A. now owns 78,030 shares of the company’s stock worth $5,054,000 after purchasing an additional 49,972 shares during the period. B. Riley Wealth Advisors Inc. bought a new position in Fastenal during the third quarter worth $1,293,000. Finally, Flossbach Von Storch AG bought a new position in Fastenal during the fourth quarter worth $3,280,000. 81.38% of the stock is owned by institutional investors.

Fastenal Stock Up 0.1 %

FAST opened at $67.57 on Friday. Fastenal has a fifty-two week low of $52.28 and a fifty-two week high of $79.04. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.49 and a current ratio of 4.83. The company has a market capitalization of $38.69 billion, a P/E ratio of 33.45, a P/E/G ratio of 3.53 and a beta of 1.05. The stock has a fifty day moving average of $73.62 and a 200-day moving average of $66.29.

Fastenal (NASDAQ:FAST) last posted its quarterly earnings results on Thursday, April 11th. The company reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.01). The company had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.91 billion. Fastenal had a net margin of 15.68% and a return on equity of 33.98%. The firm’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same period last year, the firm earned $0.52 EPS. On average, equities analysts expect that Fastenal will post 2.13 EPS for the current year.

Fastenal Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 23rd. Investors of record on Thursday, April 25th will be paid a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 2.31%. The ex-dividend date is Wednesday, April 24th. Fastenal’s dividend payout ratio (DPR) is presently 77.23%.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. HSBC lifted their price objective on shares of Fastenal from $59.00 to $64.00 and gave the stock a “hold” rating in a research report on Monday, April 15th. Stifel Nicolaus lifted their target price on Fastenal from $75.00 to $85.00 and gave the stock a “buy” rating in a report on Monday, March 18th. Robert W. Baird dropped their target price on Fastenal from $77.00 to $71.00 and set a “neutral” rating for the company in a report on Friday, April 12th. Finally, Loop Capital dropped their target price on Fastenal from $71.00 to $66.00 and set a “hold” rating for the company in a report on Monday, April 15th. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $67.67.

Insider Activity at Fastenal

In related news, Director Daniel L. Johnson purchased 3,350 shares of the company’s stock in a transaction that occurred on Wednesday, April 17th. The stock was acquired at an average price of $68.38 per share, with a total value of $229,073.00. Following the completion of the purchase, the director now directly owns 10,595 shares in the company, valued at $724,486.10. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Fastenal news, Director Daniel L. Johnson bought 3,350 shares of the stock in a transaction on Wednesday, April 17th. The stock was purchased at an average price of $68.38 per share, with a total value of $229,073.00. Following the completion of the purchase, the director now owns 10,595 shares in the company, valued at $724,486.10. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Charles S. Miller sold 11,076 shares of the business’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $75.16, for a total value of $832,472.16. The disclosure for this sale can be found here. Insiders sold a total of 71,640 shares of company stock valued at $5,044,657 over the last quarter. 0.41% of the stock is owned by corporate insiders.

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.