Azzad Asset Management Inc. ADV Acquires 2,896 Shares of Fastenal (NASDAQ:FAST)

Azzad Asset Management Inc. ADV boosted its holdings in Fastenal (NASDAQ:FAST) by 5.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 55,798 shares of the company’s stock after acquiring an additional 2,896 shares during the period. Azzad Asset Management Inc. ADV’s holdings in Fastenal were worth $4,304,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Van ECK Associates Corp raised its stake in Fastenal by 5.7% in the 4th quarter. Van ECK Associates Corp now owns 101,713 shares of the company’s stock valued at $6,588,000 after acquiring an additional 5,509 shares during the period. Nomura Holdings Inc. bought a new position in Fastenal during the 4th quarter worth $747,000. Raymond James & Associates increased its position in Fastenal by 3.7% during the 4th quarter. Raymond James & Associates now owns 900,171 shares of the company’s stock worth $58,304,000 after buying an additional 31,814 shares during the period. Focus Financial Network Inc. ADV bought a new position in Fastenal during the 4th quarter worth $1,282,000. Finally, ICW Investment Advisors LLC increased its position in Fastenal by 2.0% during the 4th quarter. ICW Investment Advisors LLC now owns 36,090 shares of the company’s stock worth $2,338,000 after buying an additional 694 shares during the period. Institutional investors own 81.38% of the company’s stock.

Insider Activity

In other news, Director Daniel L. Johnson purchased 3,350 shares of the business’s stock in a transaction dated Wednesday, April 17th. The shares were purchased at an average cost 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 of the company’s stock, valued at approximately $724,486.10. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, Director Daniel L. Johnson purchased 3,350 shares of the business’s stock in a transaction dated Wednesday, April 17th. The shares were purchased at an average cost 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 of the company’s stock, valued at approximately $724,486.10. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Hsenghung Sam Hsu purchased 500 shares of the business’s stock in a transaction dated Monday, June 10th. The shares were purchased at an average cost of $63.28 per share, for a total transaction of $31,640.00. Following the completion of the purchase, the director now directly owns 3,500 shares of the company’s stock, valued at approximately $221,480. The disclosure for this purchase can be found here. Insiders own 0.41% of the company’s stock.

Fastenal Price Performance

NASDAQ:FAST traded up $0.19 during trading hours on Wednesday, hitting $62.95. The company’s stock had a trading volume of 359,732 shares, compared to its average volume of 3,712,666. The stock has a fifty day simple moving average of $65.73 and a 200-day simple moving average of $68.64. The company has a market capitalization of $36.04 billion, a P/E ratio of 31.07, a PEG ratio of 3.36 and a beta of 1.01. The company has a debt-to-equity ratio of 0.06, a current ratio of 4.83 and a quick ratio of 2.49. Fastenal has a twelve month low of $53.83 and a twelve month high of $79.04.

Fastenal (NASDAQ:FAST) last released its quarterly earnings data on Thursday, April 11th. The company reported $0.52 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.01). The business 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 business’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same period last year, the business earned $0.52 earnings per share. On average, analysts anticipate that Fastenal will post 2.08 EPS for the current fiscal year.

Fastenal Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 23rd. Stockholders of record on Thursday, April 25th were paid a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.48%. The ex-dividend date of this dividend was Wednesday, April 24th. Fastenal’s payout ratio is 77.23%.

Analyst Ratings Changes

Several research firms have weighed in on FAST. HSBC increased their price objective on Fastenal from $59.00 to $64.00 and gave the stock a “hold” rating in a research report on Monday, April 15th. Loop Capital lowered their price objective on Fastenal from $71.00 to $66.00 and set a “hold” rating on the stock in a research report on Monday, April 15th. Robert W. Baird lowered their price objective on Fastenal from $71.00 to $69.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 7th. Finally, Stifel Nicolaus increased 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. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, Fastenal currently has an average rating of “Hold” and an average target price of $68.80.

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.