Phoenix Wealth Advisors Has $2.55 Million Stake in Fastenal (NASDAQ:FAST)

Phoenix Wealth Advisors cut its position in Fastenal (NASDAQ:FAST) by 3.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 40,087 shares of the company’s stock after selling 1,512 shares during the quarter. Fastenal accounts for about 1.8% of Phoenix Wealth Advisors’ holdings, making the stock its 21st biggest holding. Phoenix Wealth Advisors’ holdings in Fastenal were worth $2,548,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in FAST. Hartford Financial Management Inc. lifted its holdings in Fastenal by 46.9% during the 4th quarter. Hartford Financial Management Inc. now owns 479 shares of the company’s stock worth $31,000 after buying an additional 153 shares during the period. Harel Insurance Investments & Financial Services Ltd. bought a new stake in Fastenal in the fourth quarter valued at approximately $35,000. Sunbelt Securities Inc. boosted its holdings in Fastenal by 131.7% in the second 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 last quarter. Quarry LP raised its holdings in Fastenal by 184.9% during the 1st quarter. Quarry LP now owns 678 shares of the company’s stock worth $37,000 after purchasing an additional 440 shares during the last quarter. Finally, Resurgent Financial Advisors LLC bought a new position in Fastenal during the 4th quarter worth approximately $33,000. Institutional investors and hedge funds own 81.38% of the company’s stock.

Insider Activity

In related news, Director Reyne K. Wisecup sold 34,042 shares of the company’s stock in a transaction dated Friday, January 19th. The shares were sold at an average price of $68.48, for a total value of $2,331,196.16. Following the sale, the director now owns 20,000 shares in the company, valued at approximately $1,369,600. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Fastenal news, insider William Joseph Drazkowski sold 11,968 shares of the firm’s stock in a transaction on Thursday, January 25th. The stock was 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 in the company, valued at approximately $414,392.70. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Reyne K. Wisecup sold 34,042 shares of the stock in a transaction dated Friday, January 19th. The shares were sold at an average price of $68.48, for a total transaction of $2,331,196.16. Following the completion of the sale, the director now owns 20,000 shares of the company’s stock, valued at approximately $1,369,600. The disclosure for this sale can be found here. Insiders sold 105,682 shares of company stock worth $7,375,853 over the last three months. 0.41% of the stock is currently owned by insiders.

Fastenal Stock Down 0.3 %

Shares of NASDAQ FAST traded down $0.24 during trading on Wednesday, hitting $68.55. 1,085,923 shares of the company traded hands, compared to its average volume of 4,030,015. The firm has a market capitalization of $39.23 billion, a price-to-earnings ratio of 33.65, a P/E/G ratio of 3.62 and a beta of 1.05. The business’s fifty day moving average is $73.72 and its 200 day moving average is $66.18. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.49 and a current ratio of 4.83. Fastenal has a fifty-two week low of $52.28 and a fifty-two week high of $79.04.

Fastenal (NASDAQ:FAST) last issued its earnings results on Thursday, April 11th. The company reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.01). The firm had revenue of $1.90 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period in the previous year, the firm earned $0.52 earnings per share. Equities research analysts predict that Fastenal will post 2.13 earnings per share for the current fiscal year.

Fastenal Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 23rd. Shareholders of record on Thursday, April 25th will be issued 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 yield of 2.28%. Fastenal’s payout ratio is 77.23%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on FAST shares. 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. Stifel Nicolaus increased their price target on Fastenal from $75.00 to $85.00 and gave the stock a “buy” rating in a report on Monday, March 18th. HSBC boosted their price objective on Fastenal from $59.00 to $64.00 and gave the company a “hold” rating in a research note on Monday. Finally, Robert W. Baird decreased their target price on Fastenal from $77.00 to $71.00 and set a “neutral” rating for the company in a research note on Friday, April 12th. Five investment 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.com, Fastenal has an average rating of “Hold” and an average target price of $67.67.

About Fastenal

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.