Larson Financial Group LLC Boosts Stock Holdings in Fastenal (NASDAQ:FAST)

Larson Financial Group LLC lifted its stake in Fastenal (NASDAQ:FAST) by 2,899.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,069 shares of the company’s stock after purchasing an additional 7,800 shares during the period. Larson Financial Group LLC’s holdings in Fastenal were worth $523,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of FAST. Charles Schwab Investment Management Inc. raised its position in Fastenal by 3.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 13,830,951 shares of the company’s stock valued at $751,780,000 after purchasing an additional 423,112 shares in the last quarter. Morgan Stanley raised its holdings in Fastenal by 4.1% in the third quarter. Morgan Stanley now owns 8,582,669 shares of the company’s stock valued at $468,957,000 after acquiring an additional 337,168 shares in the last quarter. Northern Trust Corp lifted its stake in Fastenal by 5.9% in the third quarter. Northern Trust Corp now owns 7,444,498 shares of the company’s stock worth $406,767,000 after acquiring an additional 413,572 shares during the last quarter. Invesco Ltd. lifted its stake in Fastenal by 16.5% in the third quarter. Invesco Ltd. now owns 6,745,302 shares of the company’s stock worth $368,563,000 after acquiring an additional 957,091 shares during the last quarter. Finally, Royal Bank of Canada grew its holdings in Fastenal by 9.3% during the 3rd quarter. Royal Bank of Canada now owns 6,651,629 shares of the company’s stock worth $363,445,000 after acquiring an additional 568,372 shares in the last quarter. 81.38% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

FAST has been the subject of several recent analyst reports. 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 upped their price objective on Fastenal from $75.00 to $85.00 and gave the stock a “buy” rating in a research report on Monday, March 18th. Robert W. Baird dropped their price objective on Fastenal from $77.00 to $71.00 and set a “neutral” rating on the stock in a report on Friday, April 12th. Finally, Loop Capital decreased their target price on Fastenal from $71.00 to $66.00 and set a “hold” rating for the company in a research note on Monday, April 15th. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $67.67.

Insider Activity

In other Fastenal news, insider William Joseph Drazkowski sold 11,968 shares of the stock in a transaction that occurred on Thursday, January 25th. The stock was sold at an average price of $69.10, for a total transaction of $826,988.80. Following the completion of the sale, the insider now directly owns 5,997 shares of the company’s stock, valued at approximately $414,392.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider William Joseph Drazkowski sold 11,968 shares of the firm’s stock in a transaction on Thursday, January 25th. The shares were sold at an average price of $69.10, for a total value of $826,988.80. Following the completion of the sale, the insider now owns 5,997 shares in the company, valued at approximately $414,392.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Daniel L. Johnson bought 3,350 shares of the stock in a transaction dated Wednesday, April 17th. The stock was purchased at an average cost of $68.38 per share, for a total transaction of $229,073.00. Following the acquisition, the director now owns 10,595 shares of the company’s stock, valued at $724,486.10. The disclosure for this purchase can be found here. Over the last three months, insiders sold 48,050 shares of company stock valued at $3,411,049. Insiders own 0.41% of the company’s stock.

Fastenal Stock Up 0.1 %

Fastenal stock opened at $67.51 on Wednesday. The company has a market capitalization of $38.65 billion, a P/E ratio of 33.42, a PEG ratio of 3.53 and a beta of 1.05. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.49 and a current ratio of 4.83. Fastenal has a fifty-two week low of $52.28 and a fifty-two week high of $79.04. The stock has a 50-day simple moving average of $73.54 and a 200-day simple moving average of $66.63.

Fastenal (NASDAQ:FAST) last issued its quarterly earnings data on Thursday, April 11th. The company reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.01). The firm had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.91 billion. Fastenal had a net margin of 15.68% and a return on equity of 33.98%. Fastenal’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.52 EPS. Equities research analysts expect that Fastenal will post 2.12 earnings per share for the current year.

Fastenal Announces Dividend

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

About Fastenal

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.