Fastenal Company $FAST Shares Acquired by Parr Mcknight Wealth Management Group LLC

Parr Mcknight Wealth Management Group LLC raised its position in shares of Fastenal Company (NASDAQ:FAST) by 534.1% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 59,101 shares of the company’s stock after buying an additional 49,780 shares during the quarter. Parr Mcknight Wealth Management Group LLC’s holdings in Fastenal were worth $2,898,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the company. Twin Peaks Wealth Advisors LLC acquired a new position in Fastenal in the second quarter worth $27,000. NewSquare Capital LLC boosted its holdings in shares of Fastenal by 197.5% in the 2nd quarter. NewSquare Capital LLC now owns 714 shares of the company’s stock valued at $30,000 after buying an additional 474 shares during the period. MV Capital Management Inc. boosted its holdings in shares of Fastenal by 96.1% in the 2nd quarter. MV Capital Management Inc. now owns 712 shares of the company’s stock valued at $30,000 after buying an additional 349 shares during the period. SOA Wealth Advisors LLC. grew its position in shares of Fastenal by 71.6% during the 3rd quarter. SOA Wealth Advisors LLC. now owns 611 shares of the company’s stock valued at $30,000 after buying an additional 255 shares during the last quarter. Finally, REAP Financial Group LLC acquired a new stake in Fastenal during the third quarter worth about $30,000. 81.38% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have commented on FAST shares. Robert W. Baird lifted their target price on Fastenal from $49.00 to $51.00 and gave the company an “outperform” rating in a research note on Thursday, February 5th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Fastenal in a research report on Monday, December 29th. Jefferies Financial Group set a $52.00 price objective on Fastenal and gave the stock a “buy” rating in a report on Monday, December 15th. UBS Group reaffirmed a “neutral” rating and issued a $46.00 price objective on shares of Fastenal in a research note on Wednesday, January 21st. Finally, Barclays set a $43.00 target price on shares of Fastenal and gave the company an “equal weight” rating in a research note on Wednesday, January 21st. Four equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $48.18.

Insider Activity at Fastenal

In related news, Director Scott Satterlee sold 15,964 shares of the business’s stock in a transaction that occurred on Friday, January 23rd. The shares were sold at an average price of $44.19, for a total transaction of $705,449.16. Following the transaction, the director directly owned 50,000 shares of the company’s stock, valued at approximately $2,209,500. The trade was a 24.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.37% of the company’s stock.

Fastenal Stock Performance

Fastenal stock opened at $45.05 on Tuesday. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.85 and a quick ratio of 2.41. The company has a market cap of $51.73 billion, a P/E ratio of 40.95, a price-to-earnings-growth ratio of 2.95 and a beta of 0.89. Fastenal Company has a fifty-two week low of $35.31 and a fifty-two week high of $50.63. The firm’s 50 day simple moving average is $43.62 and its 200-day simple moving average is $44.41.

Fastenal (NASDAQ:FAST) last announced its earnings results on Tuesday, January 20th. The company reported $0.26 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.26. Fastenal had a net margin of 15.35% and a return on equity of 32.83%. The company had revenue of $2.03 billion for the quarter, compared to the consensus estimate of $2.04 billion. During the same period in the previous year, the business earned $0.46 EPS. The company’s revenue was up 11.1% on a year-over-year basis. As a group, equities research analysts predict that Fastenal Company will post 2.15 EPS for the current year.

Fastenal Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 26th. Stockholders of record on Thursday, January 29th will be given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.1%. This is a positive change from Fastenal’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Thursday, January 29th. Fastenal’s payout ratio is currently 87.27%.

Fastenal Profile

Fastenal (NASDAQ: FAST) is a wholesale distributor of industrial and construction supplies, best known for its broad assortment of fasteners such as bolts, nuts, screws and anchors. Founded in Winona, Minnesota, Fastenal has grown from a regional supplier into a national and international distributor serving a wide range of end markets, including manufacturing, construction, maintenance, repair and operations (MRO), and government customers. The company is publicly traded and operates through a network of locally staffed branches combined with national distribution capabilities.

Product offerings extend beyond fasteners to include tools, safety and personal protective equipment, power transmission components, cutting and welding supplies, janitorial and material handling items, and other industrial consumables.