AE Wealth Management LLC Grows Stock Holdings in Fastenal (NASDAQ:FAST)

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AE Wealth Management LLC grew its stake in shares of Fastenal (NASDAQ:FAST) by 2.8% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 8,865 shares of the company’s stock after buying an additional 239 shares during the period. AE Wealth Management LLC’s holdings in Fastenal were worth $458,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in FAST. Strategic Blueprint LLC purchased a new stake in shares of Fastenal during the 2nd quarter valued at $52,000. Dark Forest Capital Management LP purchased a new stake in shares of Fastenal during the 2nd quarter valued at $60,000. Farmers & Merchants Investments Inc. grew its stake in shares of Fastenal by 28.6% during the 3rd quarter. Farmers & Merchants Investments Inc. now owns 1,208 shares of the company’s stock valued at $62,000 after buying an additional 269 shares during the period. Berman Capital Advisors LLC lifted its holdings in shares of Fastenal by 16.1% during the 2nd quarter. Berman Capital Advisors LLC now owns 1,355 shares of the company’s stock valued at $70,000 after acquiring an additional 188 shares in the last quarter. Finally, JJJ Advisors Inc. lifted its holdings in shares of Fastenal by 16.2% during the 3rd quarter. JJJ Advisors Inc. now owns 1,545 shares of the company’s stock valued at $80,000 after acquiring an additional 215 shares in the last quarter. 77.48% of the stock is owned by institutional investors.

Shares of FAST stock opened at $64.06 on Monday. Fastenal has a 12 month low of $43.37 and a 12 month high of $64.75. The company has a debt-to-equity ratio of 0.11, a current ratio of 4.18 and a quick ratio of 2.07. The firm has a market capitalization of $36.84 billion, a P/E ratio of 41.33, a P/E/G ratio of 4.42 and a beta of 1.24. The company’s fifty day moving average price is $60.67 and its two-hundred day moving average price is $56.27.

Fastenal (NASDAQ:FAST) last issued its quarterly earnings data on Tuesday, October 12th. The company reported $0.42 EPS for the quarter, hitting analysts’ consensus estimates of $0.42. Fastenal had a net margin of 15.25% and a return on equity of 31.32%. The firm had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.54 billion. During the same quarter in the previous year, the business posted $0.38 EPS. The firm’s revenue was up 10.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Fastenal will post 1.57 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, November 23rd. Stockholders of record on Tuesday, October 26th were given a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 1.75%. The ex-dividend date was Monday, October 25th. Fastenal’s payout ratio is currently 72.26%.

In other news, insider William Joseph Drazkowski sold 6,630 shares of the business’s stock in a transaction dated Tuesday, December 7th. The shares were sold at an average price of $62.99, for a total value of $417,623.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Sarah N. Nielsen bought 1,000 shares of the company’s stock in a transaction dated Friday, October 15th. The stock was bought at an average cost of $55.76 per share, with a total value of $55,760.00. The disclosure for this purchase can be found here. Insiders sold a total of 38,058 shares of company stock valued at $2,349,690 in the last three months. Insiders own 0.56% of the company’s stock.

Several research firms recently weighed in on FAST. Wells Fargo & Company lowered shares of Fastenal from an “equal weight” rating to an “underweight” rating and reduced their target price for the company from $50.00 to $45.00 in a report on Friday, October 8th. Zacks Investment Research upgraded shares of Fastenal from a “hold” rating to a “buy” rating and set a $57.00 target price on the stock in a report on Tuesday, September 28th. Loop Capital lifted their target price on shares of Fastenal from $53.00 to $57.00 and gave the company a “hold” rating in a report on Tuesday, December 7th. They noted that the move was a valuation call. Finally, Robert W. Baird lifted their target price on shares of Fastenal from $59.00 to $62.00 and gave the company an “outperform” rating in a report on Tuesday, December 7th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Fastenal has a consensus rating of “Hold” and an average target price of $55.67.

About Fastenal

Fastenal Co engages in the provision of fasteners, tools, and supplies which can help in the manufacture of products, build structures, protect personnel, and maintain facilities and equipment. It products include cutting tools & metalworking, fasteners, material handling, storage & packaging power, transmission & motors, tools & equipment, electricals, abrasives, hydraulics & pneumatics, plumbing, lifting & rigging, raw materials, fleet & automotive, welding, office products & furniture, janitorial and lighting.

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