5,090 Shares in Fastenal (NASDAQ:FAST) Purchased by Golden State Equity Partners

Golden State Equity Partners acquired a new position in shares of Fastenal (NASDAQ:FAST) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 5,090 shares of the company’s stock, valued at approximately $330,000.

Several other hedge funds have also bought and sold shares of FAST. Raymond James & Associates lifted its stake in shares of Fastenal by 3.7% in the fourth quarter. Raymond James & Associates now owns 900,171 shares of the company’s stock worth $58,304,000 after buying an additional 31,814 shares in the last quarter. International Assets Investment Management LLC bought a new position in shares of Fastenal in the fourth quarter worth approximately $13,204,000. Assenagon Asset Management S.A. lifted its stake in shares of Fastenal by 178.1% in the fourth quarter. Assenagon Asset Management S.A. now owns 78,030 shares of the company’s stock worth $5,054,000 after buying an additional 49,972 shares in the last quarter. B. Riley Wealth Advisors Inc. bought a new position in shares of Fastenal in the third quarter worth approximately $1,293,000. Finally, Livforsakringsbolaget Skandia Omsesidigt lifted its stake in shares of Fastenal by 77.7% in the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,084 shares of the company’s stock worth $70,000 after buying an additional 474 shares in the last quarter. Institutional investors own 81.38% of the company’s stock.

Wall Street Analyst Weigh In

FAST has been the topic of a number of research analyst reports. HSBC increased their price objective on shares of Fastenal from $59.00 to $64.00 and gave the company a “hold” rating in a research report on Monday, April 15th. Robert W. Baird lowered their price objective on shares of Fastenal from $77.00 to $71.00 and set a “neutral” rating on the stock in a research report on Friday, April 12th. Stifel Nicolaus increased their price objective 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. Finally, Loop Capital lowered their price objective on shares of Fastenal from $71.00 to $66.00 and set a “hold” rating on the stock in a research report on Monday, April 15th. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $67.67.

Fastenal Stock Performance

Shares of NASDAQ FAST opened at $68.17 on Friday. The firm has a fifty day moving average price of $73.41 and a 200-day moving average price of $66.80. The company has a debt-to-equity ratio of 0.06, a current ratio of 4.83 and a quick ratio of 2.49. The stock has a market cap of $39.03 billion, a PE ratio of 33.75, a price-to-earnings-growth ratio of 3.57 and a beta of 1.05. Fastenal has a 1 year low of $52.66 and a 1 year high of $79.04.

Fastenal (NASDAQ:FAST) last issued its earnings results on Thursday, April 11th. The company reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates 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 quarter in the prior year, the company posted $0.52 EPS. Fastenal’s revenue was up 1.9% compared to the same quarter last year. Equities analysts anticipate that Fastenal will post 2.12 earnings per share for the current fiscal year.

Fastenal Dividend Announcement

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 given a dividend of $0.39 per share. The ex-dividend date is Wednesday, April 24th. This represents a $1.56 annualized dividend and a yield of 2.29%. Fastenal’s dividend payout ratio (DPR) is currently 77.23%.

Insider Buying and Selling at Fastenal

In other Fastenal news, VP Charles S. Miller sold 11,076 shares of the stock in a transaction on Friday, March 15th. The shares were sold at an average price of $75.16, for a total transaction of $832,472.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Daniel L. Johnson bought 3,350 shares of the stock in a transaction dated Wednesday, April 17th. The stock was purchased at an average price of $68.38 per share, for a total transaction of $229,073.00. Following the acquisition, the director now owns 10,595 shares of the company’s stock, valued at $724,486.10. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Charles S. Miller sold 11,076 shares of the firm’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $75.16, for a total transaction of $832,472.16. The disclosure for this sale can be found here. Insiders sold 36,082 shares of company stock worth $2,584,060 over the last 90 days. 0.41% of the stock is owned by insiders.

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.