Fastenal (NASDAQ:FAST) Shares Acquired by Benjamin F. Edwards & Company Inc.

Benjamin F. Edwards & Company Inc. boosted its stake in Fastenal (NASDAQ:FAST) by 735.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 502,563 shares of the company’s stock after acquiring an additional 442,418 shares during the period. Benjamin F. Edwards & Company Inc.’s holdings in Fastenal were worth $32,551,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Hartford Financial Management Inc. raised its stake in Fastenal by 46.9% during the fourth quarter. Hartford Financial Management Inc. now owns 479 shares of the company’s stock valued at $31,000 after buying an additional 153 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of Fastenal in the 4th quarter worth approximately $35,000. Criterion Capital Advisors LLC acquired a new stake in Fastenal in the 4th quarter valued at $43,000. First Horizon Advisors Inc. grew its holdings in shares of Fastenal by 283.2% during the fourth quarter. First Horizon Advisors Inc. now owns 755 shares of the company’s stock worth $49,000 after purchasing an additional 558 shares during the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt boosted its holdings in Fastenal by 77.7% in the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,084 shares of the company’s stock valued at $70,000 after acquiring an additional 474 shares during the last quarter. 81.38% of the stock is owned by hedge funds and other institutional investors.

Fastenal Stock Performance

Shares of FAST traded down $0.09 during midday trading on Thursday, hitting $68.09. 3,080,111 shares of the stock traded hands, compared to its average volume of 3,957,130. 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 firm has a market capitalization of $38.98 billion, a PE ratio of 33.75, a price-to-earnings-growth ratio of 3.56 and a beta of 1.07. The business’s 50 day moving average price is $73.29 and its two-hundred day moving average price is $67.00. Fastenal has a 1-year low of $52.85 and a 1-year high of $79.04.

Fastenal (NASDAQ:FAST) last released its earnings results 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). Fastenal had a return on equity of 33.98% and a net margin of 15.68%. The firm had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.91 billion. During the same period in the prior year, the firm earned $0.52 EPS. The firm’s revenue was up 1.9% on a year-over-year basis. Equities research analysts predict that Fastenal will post 2.12 EPS for the current fiscal year.

Fastenal Dividend Announcement

The company also recently declared 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. This represents a $1.56 dividend on an annualized basis and a yield of 2.29%. The ex-dividend date is Wednesday, April 24th. Fastenal’s dividend payout ratio is currently 77.23%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on FAST. 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 research note on Friday, April 12th. HSBC lifted their price target on shares of Fastenal from $59.00 to $64.00 and gave the company a “hold” rating in a research report on Monday, April 15th. Loop Capital dropped their target price on shares of Fastenal from $71.00 to $66.00 and set a “hold” rating for the company in a report on Monday, April 15th. Finally, Stifel Nicolaus upped their price target on shares of Fastenal from $75.00 to $85.00 and gave the stock a “buy” rating in a report on Monday, March 18th. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $67.67.

Insiders Place Their Bets

In other Fastenal news, VP Charles S. Miller sold 11,076 shares of the firm’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $75.16, for a total value of $832,472.16. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, Director Daniel L. Johnson bought 3,350 shares of the stock in a transaction dated Wednesday, April 17th. The shares were purchased at an average price of $68.38 per share, with a total value of $229,073.00. Following the completion of the acquisition, the director now owns 10,595 shares of the company’s stock, valued at $724,486.10. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Charles S. Miller sold 11,076 shares of the company’s stock in a transaction on 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 have sold 36,082 shares of company stock worth $2,584,060 in the last 90 days. Company insiders own 0.41% of the company’s stock.

Fastenal 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.