Rise Advisors LLC Has $95,000 Position in Fastenal (NASDAQ:FAST)

Rise Advisors LLC boosted its stake in Fastenal (NASDAQ:FASTFree Report) by 33.1% in the 1st quarter, Holdings Channel.com reports. The firm owned 1,235 shares of the company’s stock after acquiring an additional 307 shares during the quarter. Rise Advisors LLC’s holdings in Fastenal were worth $95,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in FAST. Essex Financial Services Inc. grew its holdings in shares of Fastenal by 1.8% during the fourth quarter. Essex Financial Services Inc. now owns 8,539 shares of the company’s stock worth $553,000 after purchasing an additional 148 shares during the last quarter. Panagora Asset Management Inc. increased its position in Fastenal by 0.8% in the 4th quarter. Panagora Asset Management Inc. now owns 19,095 shares of the company’s stock valued at $1,237,000 after acquiring an additional 152 shares during the period. Hartford Financial Management Inc. raised its stake in shares of 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 acquiring an additional 153 shares during the last quarter. Accredited Investors Inc. lifted its holdings in shares of Fastenal by 0.9% during the fourth quarter. Accredited Investors Inc. now owns 18,129 shares of the company’s stock worth $1,174,000 after purchasing an additional 164 shares during the period. Finally, Empirical Asset Management LLC grew its stake in shares of Fastenal by 2.4% in the fourth quarter. Empirical Asset Management LLC now owns 7,212 shares of the company’s stock worth $467,000 after purchasing an additional 171 shares during the last quarter. Institutional investors and hedge funds own 81.38% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on FAST shares. HSBC raised their target price on Fastenal from $59.00 to $64.00 and gave the stock a “hold” rating in a research report on Monday, April 15th. Stifel Nicolaus increased their target price on shares of Fastenal from $75.00 to $85.00 and gave the company a “buy” rating in a research report on Monday, March 18th. Robert W. Baird dropped their price target on shares of Fastenal from $71.00 to $69.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 7th. Finally, Loop Capital decreased their price objective on shares of Fastenal from $71.00 to $66.00 and set a “hold” rating for the company in a research report on Monday, April 15th. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, Fastenal currently has a consensus rating of “Hold” and a consensus target price of $68.80.

Check Out Our Latest Report on FAST

Fastenal Stock Performance

Shares of FAST stock opened at $64.94 on Thursday. The firm has a 50 day moving average of $66.49 and a 200-day moving average of $68.53. The company has a market cap of $37.18 billion, a price-to-earnings ratio of 32.15, a price-to-earnings-growth ratio of 3.47 and a beta of 1.02. The company has a quick ratio of 2.49, a current ratio of 4.83 and a debt-to-equity ratio of 0.06. Fastenal has a 52 week low of $53.83 and a 52 week high of $79.04.

Fastenal (NASDAQ:FASTGet Free Report) last issued its earnings results on Thursday, April 11th. The company reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.01). Fastenal had a return on equity of 33.98% and a net margin of 15.68%. The company had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.91 billion. During the same period in the prior year, the company earned $0.52 earnings per share. The firm’s revenue was up 1.9% compared to the same quarter last year. On average, equities analysts forecast that Fastenal will post 2.08 earnings per share for the current year.

Fastenal Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 23rd. Investors of record on Thursday, April 25th were given a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 2.40%. The ex-dividend date of this dividend was Wednesday, April 24th. Fastenal’s payout ratio is 77.23%.

Insider Buying and Selling

In other news, Director Hsenghung Sam Hsu acquired 500 shares of Fastenal stock in a transaction on Monday, June 10th. The stock was purchased at an average price of $63.28 per share, with a total value of $31,640.00. Following the completion of the purchase, the director now owns 3,500 shares of the company’s stock, valued at approximately $221,480. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, EVP James C. Jansen sold 11,428 shares of the company’s stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $64.07, for a total transaction of $732,191.96. Following the completion of the sale, the executive vice president now owns 26,176 shares in the company, valued at $1,677,096.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Hsenghung Sam Hsu acquired 500 shares of the company’s stock in a transaction on Monday, June 10th. The shares were bought at an average price of $63.28 per share, for a total transaction of $31,640.00. Following the completion of the purchase, the director now owns 3,500 shares in the company, valued at approximately $221,480. The disclosure for this purchase can be found here. 0.41% of the stock is owned by company insiders.

Fastenal Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Fastenal (NASDAQ:FAST)

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