Axxcess Wealth Management LLC Decreases Position in Fastenal (NASDAQ:FAST)

Axxcess Wealth Management LLC lessened its position in Fastenal (NASDAQ:FAST) by 22.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 14,284 shares of the company’s stock after selling 4,219 shares during the period. Axxcess Wealth Management LLC’s holdings in Fastenal were worth $925,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Verdence Capital Advisors LLC increased its holdings in shares of Fastenal by 12.6% in the 3rd quarter. Verdence Capital Advisors LLC now owns 14,324 shares of the company’s stock worth $783,000 after purchasing an additional 1,606 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Fastenal by 2.5% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 135,122 shares of the company’s stock worth $7,383,000 after buying an additional 3,359 shares in the last quarter. IFM Investors Pty Ltd raised its position in Fastenal by 4.1% in the 3rd quarter. IFM Investors Pty Ltd now owns 110,695 shares of the company’s stock worth $6,048,000 after buying an additional 4,359 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in Fastenal by 11.7% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,683,255 shares of the company’s stock valued at $201,253,000 after acquiring an additional 387,270 shares during the period. Finally, NBT Bank N A NY purchased a new stake in shares of Fastenal during the 3rd quarter valued at about $640,000. Hedge funds and other institutional investors own 81.38% of the company’s stock.

Analyst Ratings Changes

FAST has been the subject of several research reports. Robert W. Baird decreased their price objective on shares of Fastenal from $71.00 to $69.00 and set a “neutral” rating for the company in a report on Tuesday. Loop Capital decreased their target price on shares of Fastenal from $71.00 to $66.00 and set a “hold” rating for the company in a research note on Monday, April 15th. HSBC raised their price target on Fastenal from $59.00 to $64.00 and gave the stock a “hold” rating in a research note on Monday, April 15th. Finally, Stifel Nicolaus upped their price objective on Fastenal from $75.00 to $85.00 and gave the company a “buy” rating in a research report on Monday, March 18th. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $67.33.

Fastenal Trading Down 2.5 %

Shares of Fastenal stock opened at $66.74 on Tuesday. Fastenal has a 1-year low of $52.86 and a 1-year high of $79.04. The company’s fifty day simple moving average is $73.01 and its 200-day simple moving average is $67.23. 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 capitalization of $38.21 billion, a PE ratio of 33.04, a P/E/G ratio of 3.58 and a beta of 1.07.

Fastenal (NASDAQ:FAST) last released its earnings results on Thursday, April 11th. The company reported $0.52 earnings per share 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 company had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.91 billion. During the same quarter last year, the firm posted $0.52 earnings per share. Fastenal’s revenue for the quarter was up 1.9% on a year-over-year basis. As a group, equities analysts anticipate that Fastenal will post 2.12 earnings per share for the current year.

Fastenal Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 23rd. Investors of record on Thursday, April 25th will be paid a dividend of $0.39 per share. The ex-dividend date is Wednesday, April 24th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.34%. Fastenal’s dividend payout ratio (DPR) is presently 77.23%.

Insider Buying and Selling

In other news, Director Daniel L. Johnson purchased 3,350 shares of the stock in a transaction on Wednesday, April 17th. The shares were acquired at an average price of $68.38 per share, with a total value of $229,073.00. Following the completion of the acquisition, the director now directly owns 10,595 shares of the company’s stock, valued at $724,486.10. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, insider Jeffery Michael Watts sold 19,420 shares of the company’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $70.25, for a total value of $1,364,255.00. Following the completion of the transaction, the insider now owns 5,940 shares of the company’s stock, valued at $417,285. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Daniel L. Johnson bought 3,350 shares of the firm’s stock in a transaction that occurred on Wednesday, April 17th. The shares were acquired at an average cost of $68.38 per share, for a total transaction of $229,073.00. Following the purchase, the director now directly owns 10,595 shares in the company, valued at approximately $724,486.10. The disclosure for this purchase can be found here. 0.41% of the stock is currently owned by insiders.

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.