Larson Financial Group LLC Boosts Stock Holdings in Fastenal (NASDAQ:FAST)

Larson Financial Group LLC boosted its stake in Fastenal (NASDAQ:FAST) by 2,899.6% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,069 shares of the company’s stock after purchasing an additional 7,800 shares during the quarter. Larson Financial Group LLC’s holdings in Fastenal were worth $523,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in FAST. Illinois Municipal Retirement Fund boosted its stake in Fastenal by 22.4% during the fourth quarter. Illinois Municipal Retirement Fund now owns 204,835 shares of the company’s stock valued at $13,267,000 after buying an additional 37,503 shares during the last quarter. RWA Wealth Partners LLC purchased a new stake in shares of Fastenal during the 4th quarter worth approximately $206,000. Sage Mountain Advisors LLC bought a new position in shares of Fastenal during the 4th quarter valued at approximately $212,000. Capital Investment Advisory Services LLC purchased a new position in shares of Fastenal in the fourth quarter valued at $233,000. Finally, CWM LLC increased its position in Fastenal by 4.5% in the fourth quarter. CWM LLC now owns 19,642 shares of the company’s stock worth $1,272,000 after purchasing an additional 852 shares during the last quarter. Institutional investors own 81.38% of the company’s stock.

Fastenal Price Performance

Fastenal stock opened at $67.51 on Wednesday. Fastenal has a 12-month low of $52.28 and a 12-month high of $79.04. The company has a current ratio of 4.83, a quick ratio of 2.49 and a debt-to-equity ratio of 0.06. The firm has a 50-day moving average price of $73.54 and a 200-day moving average price of $66.63. The firm has a market capitalization of $38.65 billion, a PE ratio of 33.42, a price-to-earnings-growth ratio of 3.53 and a beta of 1.05.

Fastenal (NASDAQ:FAST) last announced its quarterly earnings data on Thursday, April 11th. The company reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.01). The firm had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.91 billion. Fastenal had a return on equity of 33.98% and a net margin of 15.68%. The firm’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.52 EPS. As a group, equities research analysts forecast that Fastenal will post 2.12 EPS for the current year.

Fastenal Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 23rd. Investors of record on Thursday, April 25th will be issued a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 2.31%. The ex-dividend date is Wednesday, April 24th. Fastenal’s payout ratio is currently 77.23%.

Insider Buying and Selling at Fastenal

In related news, Director Daniel L. Johnson purchased 3,350 shares of Fastenal stock in a transaction that occurred on Wednesday, April 17th. The shares were bought at an average price of $68.38 per share, with a total value of $229,073.00. Following the purchase, the director now directly owns 10,595 shares of the company’s stock, valued at approximately $724,486.10. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Fastenal news, insider William Joseph Drazkowski sold 11,968 shares of Fastenal stock in a transaction on Thursday, January 25th. The stock was sold at an average price of $69.10, for a total transaction of $826,988.80. Following the completion of the sale, the insider now directly owns 5,997 shares of the company’s stock, valued at approximately $414,392.70. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Daniel L. Johnson purchased 3,350 shares of the company’s stock in a transaction dated Wednesday, April 17th. The shares were purchased at an average cost of $68.38 per share, for a total transaction of $229,073.00. Following the transaction, the director now directly owns 10,595 shares in the company, valued at approximately $724,486.10. The disclosure for this purchase can be found here. Insiders have sold 48,050 shares of company stock valued at $3,411,049 in the last quarter. 0.41% of the stock is owned by insiders.

Analysts Set New Price Targets

FAST has been the subject of several research reports. HSBC increased their price objective on shares of Fastenal from $59.00 to $64.00 and gave the company a “hold” rating in a research report on Monday, April 15th. Loop Capital lowered their price target on shares of Fastenal from $71.00 to $66.00 and set a “hold” rating for the company in a report on Monday, April 15th. Stifel Nicolaus boosted their price objective on Fastenal from $75.00 to $85.00 and gave the stock a “buy” rating in a research note on Monday, March 18th. Finally, Robert W. Baird lowered their price objective on Fastenal from $77.00 to $71.00 and set a “neutral” rating for the company in a research note on Friday, April 12th. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, Fastenal has a consensus rating of “Hold” and a consensus price target of $67.67.

About Fastenal

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.