ORG Wealth Partners LLC Cuts Stock Position in Fastenal (NASDAQ:FAST)

ORG Wealth Partners LLC decreased its position in shares of Fastenal (NASDAQ:FAST) by 7.7% in the fourth quarter, HoldingsChannel reports. The fund owned 5,358 shares of the company’s stock after selling 450 shares during the quarter. ORG Wealth Partners LLC’s holdings in Fastenal were worth $385,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of FAST. State Street Corp increased its stake in Fastenal by 5.1% during the 3rd quarter. State Street Corp now owns 27,989,485 shares of the company’s stock valued at $1,999,009,000 after purchasing an additional 1,346,863 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Fastenal by 5.6% in the 3rd quarter. Geode Capital Management LLC now owns 16,683,751 shares of the company’s stock valued at $1,188,251,000 after acquiring an additional 880,372 shares during the period. Marshall Wace LLP raised its stake in Fastenal by 4,008.2% in the 2nd quarter. Marshall Wace LLP now owns 756,241 shares of the company’s stock worth $47,522,000 after acquiring an additional 737,833 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Fastenal by 19.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,837,530 shares of the company’s stock worth $241,161,000 after acquiring an additional 636,546 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in Fastenal by 3.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 19,878,045 shares of the company’s stock valued at $1,419,690,000 after purchasing an additional 608,596 shares during the last quarter. 81.38% of the stock is currently owned by institutional investors and hedge funds.

Fastenal Trading Down 1.5 %

Fastenal stock traded down $1.13 during trading on Friday, hitting $71.81. The company had a trading volume of 910,678 shares, compared to its average volume of 2,154,546. The company has a current ratio of 4.40, a quick ratio of 2.29 and a debt-to-equity ratio of 0.03. The stock has a market cap of $41.14 billion, a price-to-earnings ratio of 35.73, a price-to-earnings-growth ratio of 4.64 and a beta of 1.02. The company’s 50 day simple moving average is $78.73 and its 200-day simple moving average is $72.50. Fastenal has a 1-year low of $61.36 and a 1-year high of $84.88.

Fastenal (NASDAQ:FAST) last posted its quarterly earnings results on Friday, October 11th. The company reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.01. Fastenal had a return on equity of 33.30% and a net margin of 15.44%. The company had revenue of $1.91 billion for the quarter, compared to analysts’ expectations of $1.90 billion. During the same period last year, the firm earned $0.52 earnings per share. Fastenal’s quarterly revenue was up 3.5% on a year-over-year basis. As a group, analysts expect that Fastenal will post 2.03 EPS for the current fiscal year.

Analysts Set New Price Targets

FAST has been the subject of a number of research reports. Morgan Stanley boosted their target price on shares of Fastenal from $72.00 to $76.00 and gave the company an “equal weight” rating in a research report on Monday, October 14th. HSBC cut Fastenal from a “hold” rating to a “reduce” rating and set a $70.00 price target for the company. in a report on Wednesday, December 11th. JPMorgan Chase & Co. raised their price objective on Fastenal from $57.00 to $63.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. Jefferies Financial Group increased their price objective on shares of Fastenal from $74.00 to $85.00 and gave the company a “hold” rating in a report on Friday, December 6th. Finally, Bank of America initiated coverage on Fastenal in a research note on Monday, October 7th. They issued a “buy” rating and a $85.00 price target on the stock. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, Fastenal presently has a consensus rating of “Hold” and a consensus price target of $77.40.

Insider Buying and Selling

In related news, CAO Sheryl Ann Lisowski sold 13,567 shares of the stock in a transaction on Monday, October 14th. The stock was sold at an average price of $76.19, for a total value of $1,033,669.73. Following the transaction, the chief accounting officer now directly owns 5,096 shares of the company’s stock, valued at approximately $388,264.24. This trade represents a 72.69 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Anthony Paul Broersma sold 680 shares of the stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $77.86, for a total value of $52,944.80. The disclosure for this sale can be found here. Insiders have sold 158,289 shares of company stock worth $12,639,438 in the last ninety days. 0.41% of the stock is owned by corporate insiders.

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.