Wilmington Savings Fund Society FSB Purchases 323 Shares of Fastenal (NASDAQ:FAST)

Wilmington Savings Fund Society FSB raised its holdings in shares of Fastenal (NASDAQ:FAST) by 1.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 28,855 shares of the company’s stock after acquiring an additional 323 shares during the quarter. Wilmington Savings Fund Society FSB’s holdings in Fastenal were worth $2,075,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in FAST. Ashton Thomas Securities LLC purchased a new stake in shares of Fastenal during the third quarter worth about $25,000. Knuff & Co LLC purchased a new stake in Fastenal during the 3rd quarter valued at approximately $27,000. First Personal Financial Services bought a new stake in shares of Fastenal during the third quarter valued at approximately $36,000. CVA Family Office LLC lifted its holdings in shares of Fastenal by 51.0% in the third quarter. CVA Family Office LLC now owns 533 shares of the company’s stock worth $38,000 after buying an additional 180 shares in the last quarter. Finally, MCF Advisors LLC boosted its position in shares of Fastenal by 54.1% during the third quarter. MCF Advisors LLC now owns 635 shares of the company’s stock worth $45,000 after acquiring an additional 223 shares during the last quarter. 81.38% of the stock is currently owned by hedge funds and other institutional investors.

Fastenal Price Performance

FAST stock opened at $73.84 on Monday. The stock has a market cap of $42.30 billion, a PE ratio of 36.74, a P/E/G ratio of 3.55 and a beta of 1.02. Fastenal has a 12 month low of $61.36 and a 12 month high of $84.88. The company has a 50-day moving average price of $75.44 and a 200 day moving average price of $73.94. The company has a current ratio of 4.67, a quick ratio of 2.28 and a debt-to-equity ratio of 0.03.

Fastenal (NASDAQ:FAST) last announced its earnings results on Friday, January 17th. The company reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.02). Fastenal had a net margin of 15.25% and a return on equity of 32.55%. The business had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1.84 billion. During the same quarter last year, the firm earned $0.46 EPS. The firm’s quarterly revenue was up 3.7% on a year-over-year basis. Equities research analysts anticipate that Fastenal will post 2.15 earnings per share for the current year.

Fastenal Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, January 31st will be given a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a dividend yield of 2.33%. This is an increase from Fastenal’s previous quarterly dividend of $0.39. The ex-dividend date is Friday, January 31st. Fastenal’s dividend payout ratio (DPR) is 85.57%.

Insider Activity

In other Fastenal news, VP Charles S. Miller sold 23,480 shares of Fastenal stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $83.92, for a total transaction of $1,970,441.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Daniel L. Johnson sold 8,474 shares of the firm’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $83.36, for a total value of $706,392.64. Following the transaction, the director now owns 10,595 shares in the company, valued at approximately $883,199.20. This represents a 44.44 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on FAST shares. Robert W. Baird boosted their price target on shares of Fastenal from $67.00 to $80.00 and gave the stock a “neutral” rating in a research note on Monday, October 14th. Hsbc Global Res lowered Fastenal from a “hold” rating to a “moderate sell” rating in a research note on Wednesday, December 11th. Morgan Stanley lifted their price objective on Fastenal from $72.00 to $76.00 and gave the stock an “equal weight” rating in a research note on Monday, October 14th. HSBC downgraded Fastenal from a “hold” rating to a “reduce” rating and set a $70.00 target price for the company. in a research report on Wednesday, December 11th. Finally, Stephens boosted their price target on shares of Fastenal from $56.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Monday, October 14th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $76.91.

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.