LVW Advisors LLC Purchases 2,091 Shares of Fastenal (NASDAQ:FAST)

LVW Advisors LLC lifted its position in shares of Fastenal (NASDAQ:FAST) by 46.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,599 shares of the company’s stock after acquiring an additional 2,091 shares during the period. LVW Advisors LLC’s holdings in Fastenal were worth $471,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in FAST. Central Valley Advisors LLC bought a new stake in Fastenal in the 2nd quarter worth approximately $28,000. MCF Advisors LLC grew its position in Fastenal by 2,172.2% in the 1st quarter. MCF Advisors LLC now owns 409 shares of the company’s stock worth $32,000 after purchasing an additional 391 shares during the period. Triad Wealth Partners LLC bought a new stake in Fastenal in the 2nd quarter worth approximately $32,000. Crewe Advisors LLC grew its position in shares of 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 acquiring an additional 428 shares during the period. Finally, Moisand Fitzgerald Tamayo LLC grew its position in shares of 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 acquiring an additional 428 shares during the period. Institutional investors own 81.38% of the company’s stock.

Insider Activity at Fastenal

In other Fastenal news, CEO Daniel L. Florness sold 45,744 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $68.14, for a total value of $3,116,996.16. Following the transaction, the chief executive officer now directly owns 286,018 shares in the company, valued at $19,489,266.52. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Daniel L. Florness sold 50,000 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $69.68, for a total value of $3,484,000.00. Following the completion of the sale, the chief executive officer now owns 286,018 shares of the company’s stock, valued at approximately $19,929,734.24. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Daniel L. Florness sold 45,744 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $68.14, for a total transaction of $3,116,996.16. Following the completion of the sale, the chief executive officer now directly owns 286,018 shares of the company’s stock, valued at $19,489,266.52. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.41% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Morgan Stanley assumed coverage on shares of Fastenal in a research report on Friday, September 6th. They set an “equal weight” rating and a $72.00 price objective for the company. JPMorgan Chase & Co. boosted their price objective on shares of Fastenal from $57.00 to $63.00 and gave the company a “neutral” rating in a research report on Thursday. Stifel Nicolaus reissued a “buy” rating and set a $80.00 price objective (down previously from $85.00) on shares of Fastenal in a research report on Monday, July 15th. Bank of America started coverage on shares of Fastenal in a research note on Monday, October 7th. They set a “buy” rating and a $85.00 target price on the stock. Finally, Stephens restated an “equal weight” rating and set a $56.00 target price on shares of Fastenal in a research note on Monday, July 15th. Seven analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $68.89.

Fastenal Stock Up 9.8 %

Shares of NASDAQ FAST opened at $76.82 on Friday. The firm’s 50-day moving average price is $68.77 and its 200-day moving average price is $68.01. The company has a current ratio of 4.39, a quick ratio of 2.29 and a debt-to-equity ratio of 0.04. The stock has a market capitalization of $43.99 billion, a price-to-earnings ratio of 38.22, a P/E/G ratio of 4.13 and a beta of 1.01. Fastenal has a 12-month low of $56.41 and a 12-month high of $79.04.

Fastenal (NASDAQ:FAST) last announced its earnings results on Friday, October 11th. The company reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.01. The firm had revenue of $1.91 billion for the quarter, compared to analysts’ expectations of $1.90 billion. Fastenal had a net margin of 15.54% and a return on equity of 33.54%. The business’s revenue was up 3.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.52 EPS. On average, equities research analysts anticipate that Fastenal will post 2.04 EPS for the current fiscal year.

Fastenal Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Friday, October 25th will be issued a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 2.03%. Fastenal’s payout ratio is 77.61%.

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.