KLCM Advisors Inc. Has $1.12 Million Holdings in Fastenal (NASDAQ:FAST)

KLCM Advisors Inc. cut its stake in Fastenal (NASDAQ:FAST) by 4.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 17,225 shares of the company’s stock after selling 846 shares during the period. KLCM Advisors Inc.’s holdings in Fastenal were worth $1,116,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Hartford Financial Management Inc. raised its holdings in Fastenal by 46.9% in the 4th 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 period. Harel Insurance Investments & Financial Services Ltd. bought a new position in Fastenal in the 4th quarter valued at about $35,000. Sunbelt Securities Inc. raised its holdings in Fastenal by 131.7% in the 2nd quarter. Sunbelt Securities Inc. now owns 600 shares of the company’s stock valued at $35,000 after acquiring an additional 341 shares during the period. Quarry LP raised its holdings in Fastenal by 184.9% in the 1st quarter. Quarry LP now owns 678 shares of the company’s stock valued at $37,000 after acquiring an additional 440 shares during the period. Finally, Resurgent Financial Advisors LLC bought a new position in Fastenal in the 4th quarter valued at about $33,000. 81.38% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Fastenal

In other Fastenal news, VP Charles S. Miller sold 23,590 shares of the firm’s stock in a transaction that occurred on Monday, January 22nd. The shares were sold at an average price of $69.25, for a total value of $1,633,607.50. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, VP Charles S. Miller sold 23,590 shares of the firm’s stock in a transaction on Monday, January 22nd. The shares were sold at an average price of $69.25, for a total transaction of $1,633,607.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider William Joseph Drazkowski sold 11,968 shares of the firm’s stock in a transaction on Thursday, January 25th. The shares were sold at an average price of $69.10, for a total transaction of $826,988.80. Following the transaction, the insider now directly owns 5,997 shares of the company’s stock, valued at approximately $414,392.70. The disclosure for this sale can be found here. Insiders have sold 105,682 shares of company stock worth $7,375,853 over the last quarter. Corporate insiders own 0.41% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on FAST. HSBC increased their price target on shares of Fastenal from $59.00 to $64.00 and gave the company a “hold” rating in a report on Monday. Robert W. Baird lowered their price target on shares of Fastenal from $77.00 to $71.00 and set a “neutral” rating on the stock in a report on Friday, April 12th. Loop Capital lowered their target price on shares of Fastenal from $71.00 to $66.00 and set a “hold” rating on the stock in a report on Monday. Finally, Stifel Nicolaus raised their target price 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 analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $67.67.

Fastenal Price Performance

Shares of NASDAQ FAST traded down $0.15 during trading hours on Wednesday, hitting $68.64. 1,844,828 shares of the stock were exchanged, compared to its average volume of 4,041,681. 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 company has a market cap of $39.28 billion, a PE ratio of 33.65, a price-to-earnings-growth ratio of 3.62 and a beta of 1.05. The company’s fifty day simple moving average is $73.72 and its two-hundred day simple moving average is $66.18. Fastenal has a 1-year low of $52.28 and a 1-year high of $79.04.

Fastenal (NASDAQ:FAST) last posted its quarterly 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). The firm had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.91 billion. Fastenal had a return on equity of 33.98% and a net margin of 15.68%. The business’s revenue was up 1.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.52 EPS. On average, sell-side analysts predict that Fastenal will post 2.13 EPS for the current year.

Fastenal Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 23rd. Investors of record on Thursday, April 25th will be given a dividend of $0.39 per share. The ex-dividend date of this dividend is Wednesday, April 24th. This represents a $1.56 annualized dividend and a dividend yield of 2.27%. Fastenal’s dividend payout ratio is 77.23%.

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.