Sage Mountain Advisors LLC Purchases Shares of 3,272 Fastenal (NASDAQ:FAST)

Sage Mountain Advisors LLC purchased a new stake in shares of Fastenal (NASDAQ:FAST) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund purchased 3,272 shares of the company’s stock, valued at approximately $212,000.

A number of other hedge funds have also added to or reduced their stakes in FAST. CWM LLC boosted its stake in shares of Fastenal by 16.7% in the 3rd quarter. CWM LLC now owns 18,790 shares of the company’s stock worth $1,027,000 after buying an additional 2,688 shares during the last quarter. IFP Advisors Inc boosted its stake in shares of Fastenal by 25.6% in the 3rd quarter. IFP Advisors Inc now owns 4,702 shares of the company’s stock worth $257,000 after buying an additional 958 shares during the last quarter. HB Wealth Management LLC boosted its stake in shares of Fastenal by 26.4% in the 3rd quarter. HB Wealth Management LLC now owns 7,159 shares of the company’s stock worth $391,000 after buying an additional 1,495 shares during the last quarter. Meridian Wealth Management LLC boosted its stake in shares of Fastenal by 106.2% in the 3rd quarter. Meridian Wealth Management LLC now owns 9,716 shares of the company’s stock worth $531,000 after buying an additional 5,003 shares during the last quarter. Finally, KFG Wealth Management LLC boosted its stake in shares of Fastenal by 4.2% in the 3rd quarter. KFG Wealth Management LLC now owns 5,945 shares of the company’s stock worth $325,000 after buying an additional 238 shares during the last quarter. Institutional investors and hedge funds own 81.38% of the company’s stock.

Insider Buying and Selling at Fastenal

In other Fastenal news, insider William Joseph Drazkowski sold 11,968 shares of the company’s stock in a transaction dated Thursday, January 25th. The shares were sold at an average price of $69.10, for a total transaction of $826,988.80. Following the completion of the sale, the insider now directly owns 5,997 shares in the company, valued at $414,392.70. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, insider William Joseph Drazkowski sold 11,968 shares of the stock in a transaction dated Thursday, January 25th. The shares were sold at an average price of $69.10, for a total transaction of $826,988.80. Following the completion of the sale, the insider now directly owns 5,997 shares in the company, valued at $414,392.70. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Anthony Paul Broersma sold 5,586 shares of the stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $69.34, for a total transaction of $387,333.24. The disclosure for this sale can be found here. Insiders sold a total of 48,050 shares of company stock worth $3,411,049 over the last three months. Company insiders own 0.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on FAST. Loop Capital dropped their price objective on Fastenal from $71.00 to $66.00 and set a “hold” rating on the stock in a research note on Monday, April 15th. Stifel Nicolaus upped their price objective on Fastenal from $75.00 to $85.00 and gave the company a “buy” rating in a research note on Monday, March 18th. Robert W. Baird dropped their price objective on Fastenal from $77.00 to $71.00 and set a “neutral” rating on the stock in a research note on Friday, April 12th. Finally, HSBC upped their price objective on Fastenal from $59.00 to $64.00 and gave the company a “hold” rating in a research note on Monday, April 15th. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, Fastenal currently has an average rating of “Hold” and an average target price of $67.67.

Fastenal Stock Up 0.1 %

FAST opened at $67.51 on Wednesday. The stock has a market cap of $38.65 billion, a PE ratio of 33.42, a P/E/G ratio of 3.53 and a beta of 1.05. 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 $52.28 and a 52 week high of $79.04. The business’s fifty day simple moving average is $73.54 and its 200 day simple moving average is $66.63.

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). Fastenal had a net margin of 15.68% and a return on equity of 33.98%. The business had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.91 billion. During the same quarter in the previous year, the company earned $0.52 earnings per share. The business’s quarterly revenue was up 1.9% on a year-over-year basis. As a group, research analysts expect that Fastenal will post 2.12 earnings per share for the current fiscal year.

Fastenal Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 23rd. Shareholders 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 yield of 2.31%. Fastenal’s 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.