X Square Capital LLC Grows Stake in Fastenal (NASDAQ:FAST)

X Square Capital LLC grew its holdings in Fastenal (NASDAQ:FAST) by 4.0% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 14,844 shares of the company’s stock after buying an additional 566 shares during the quarter. X Square Capital LLC’s holdings in Fastenal were worth $1,060,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Central Valley Advisors LLC bought a new position in Fastenal during the 2nd quarter valued at approximately $28,000. MCF Advisors LLC increased its position in Fastenal by 2,172.2% during the 1st quarter. MCF Advisors LLC now owns 409 shares of the company’s stock valued at $32,000 after buying an additional 391 shares in the last quarter. Triad Wealth Partners LLC bought a new position in Fastenal during the 2nd quarter valued at approximately $32,000. Crewe Advisors LLC increased its position in Fastenal by 528.4% during the 2nd quarter. Crewe Advisors LLC now owns 509 shares of the company’s stock valued at $32,000 after buying an additional 428 shares in the last quarter. Finally, Moisand Fitzgerald Tamayo LLC increased its position in Fastenal by 1,019.0% during the 3rd quarter. Moisand Fitzgerald Tamayo LLC now owns 470 shares of the company’s stock valued at $34,000 after buying an additional 428 shares in the last quarter. Institutional investors own 81.38% of the company’s stock.

Insider Activity at Fastenal

In related news, EVP Anthony Paul Broersma sold 680 shares of Fastenal stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $77.86, for a total transaction of $52,944.80. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, EVP Anthony Paul Broersma sold 680 shares of Fastenal stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $77.86, for a total transaction of $52,944.80. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Sheryl Ann Lisowski sold 13,567 shares of the business’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $76.19, for a total value of $1,033,669.73. Following the completion of the transaction, the chief accounting officer now owns 5,096 shares in the company, valued at $388,264.24. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 179,373 shares of company stock worth $13,029,308. Corporate insiders own 0.41% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on FAST shares. Morgan Stanley raised their price objective on Fastenal from $72.00 to $76.00 and gave the company an “equal weight” rating in a research report on Monday, October 14th. Stifel Nicolaus reissued a “buy” rating and issued a $86.00 target price (up previously from $80.00) on shares of Fastenal in a report on Monday, October 14th. Robert W. Baird lifted their target price on Fastenal from $67.00 to $80.00 and gave the stock a “neutral” rating in a report on Monday, October 14th. Jefferies Financial Group reduced their target price on Fastenal from $74.00 to $65.00 and set a “hold” rating for the company in a report on Thursday, July 11th. Finally, Stephens lifted their target price on Fastenal from $56.00 to $75.00 and gave the stock an “equal weight” rating in a report on Monday, October 14th. Seven investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $73.33.

Fastenal Stock Performance

FAST stock opened at $75.93 on Thursday. The company has a market cap of $43.47 billion, a P/E ratio of 37.78, a price-to-earnings-growth ratio of 4.13 and a beta of 1.01. Fastenal has a 1 year low of $56.41 and a 1 year high of $79.04. The company has a debt-to-equity ratio of 0.04, a current ratio of 4.39 and a quick ratio of 2.29. The stock’s fifty day moving average price is $70.56 and its 200-day moving average price is $67.99.

Fastenal (NASDAQ:FAST) last released its quarterly earnings results on Friday, October 11th. The company reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.01. The firm had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.90 billion. Fastenal had a return on equity of 33.54% and a net margin of 15.54%. The company’s revenue for the quarter was up 3.5% on a year-over-year basis. During the same period last year, the business posted $0.52 EPS. On average, equities analysts forecast that Fastenal will post 2.04 earnings per share for the current year.

Fastenal Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Friday, October 25th will be given a dividend of $0.39 per share. The ex-dividend date of this dividend is Friday, October 25th. This represents a $1.56 annualized dividend and a yield of 2.05%. Fastenal’s dividend payout ratio (DPR) is presently 77.61%.

Fastenal Company 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.