Vest Financial LLC Acquires 30,169 Shares of Fastenal (NASDAQ:FAST)

Vest Financial LLC grew its stake in Fastenal (NASDAQ:FAST) by 4.2% during the fourth quarter, HoldingsChannel.com reports. The firm owned 750,575 shares of the company’s stock after buying an additional 30,169 shares during the period. Vest Financial LLC’s holdings in Fastenal were worth $53,974,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Aaron Wealth Advisors LLC acquired a new position in Fastenal in the third quarter valued at about $310,000. Comgest Global Investors S.A.S. raised its position in shares of Fastenal by 73.0% in the 3rd quarter. Comgest Global Investors S.A.S. now owns 87,081 shares of the company’s stock valued at $6,219,000 after acquiring an additional 36,742 shares during the period. PNC Financial Services Group Inc. boosted its stake in Fastenal by 1.8% during the 3rd quarter. PNC Financial Services Group Inc. now owns 369,267 shares of the company’s stock worth $26,373,000 after acquiring an additional 6,488 shares during the last quarter. Matrix Trust Co acquired a new position in Fastenal during the fourth quarter valued at approximately $1,756,000. Finally, Franklin Resources Inc. grew its holdings in Fastenal by 3.8% during the third quarter. Franklin Resources Inc. now owns 4,572,999 shares of the company’s stock valued at $350,703,000 after purchasing an additional 165,423 shares during the period. 81.38% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

FAST has been the topic of a number of recent analyst reports. Morgan Stanley lifted their price target on shares of Fastenal from $72.00 to $76.00 and gave the stock an “equal weight” rating in a research report on Monday, October 14th. 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. Robert W. Baird boosted their target price on Fastenal from $67.00 to $80.00 and gave the company a “neutral” rating in a research note on Monday, October 14th. UBS Group began coverage on Fastenal in a research report on Wednesday, November 13th. They set a “neutral” rating and a $88.00 price target on the stock. Finally, Stifel Nicolaus decreased their price objective on Fastenal from $86.00 to $82.00 and set a “hold” rating for the company in a research report on Tuesday, January 21st. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and one has given 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 $76.91.

Fastenal Price Performance

NASDAQ FAST opened at $73.84 on Friday. Fastenal has a 12-month low of $61.36 and a 12-month high of $84.88. The firm’s 50 day moving average is $75.63 and its 200-day moving average is $73.86. The company has a market capitalization of $42.30 billion, a PE ratio of 36.74, a price-to-earnings-growth ratio of 3.48 and a beta of 1.02. The company has a quick ratio of 2.28, a current ratio of 4.67 and a debt-to-equity ratio of 0.03.

Fastenal (NASDAQ:FAST) last issued its quarterly earnings results on Friday, January 17th. The company reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.02). Fastenal had a net margin of 15.25% and a return on equity of 32.55%. The business had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.84 billion. During the same quarter in the previous year, the firm posted $0.46 earnings per share. The firm’s quarterly revenue was up 3.7% on a year-over-year basis. Equities research analysts anticipate that Fastenal will post 2.15 earnings per share for the current fiscal year.

Fastenal Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, January 31st will be given a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.33%. The ex-dividend date of this dividend is Friday, January 31st. This is an increase from Fastenal’s previous quarterly dividend of $0.39. Fastenal’s dividend payout ratio (DPR) is 85.57%.

Insider Transactions at Fastenal

In other Fastenal news, Director Daniel L. Johnson sold 8,474 shares of the firm’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $83.36, for a total transaction of $706,392.64. Following the completion of the sale, the director now owns 10,595 shares of the company’s stock, valued at $883,199.20. This trade represents a 44.44 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Charles S. Miller sold 23,480 shares of the company’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $83.92, for a total transaction of $1,970,441.60. The disclosure for this sale can be found here. Insiders have sold 63,772 shares of company stock worth $5,365,455 in the last ninety days. Insiders own 0.41% of the company’s stock.

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.