Apollon Wealth Management LLC Buys 1,085 Shares of Fastenal (NASDAQ:FAST)

Apollon Wealth Management LLC boosted its holdings in shares of Fastenal (NASDAQ:FAST) by 3.9% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 28,967 shares of the company’s stock after buying an additional 1,085 shares during the period. Apollon Wealth Management LLC’s holdings in Fastenal were worth $1,876,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the business. Hartford Financial Management Inc. increased its holdings in shares of Fastenal by 46.9% in the fourth quarter. Hartford Financial Management Inc. now owns 479 shares of the company’s stock worth $31,000 after buying an additional 153 shares during the period. Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of Fastenal in the 4th quarter worth approximately $35,000. Criterion Capital Advisors LLC bought a new position in Fastenal in the 4th quarter valued at approximately $43,000. First Horizon Advisors Inc. lifted its position in Fastenal by 283.2% in the 4th quarter. First Horizon Advisors Inc. now owns 755 shares of the company’s stock valued at $49,000 after acquiring an additional 558 shares in the last quarter. Finally, Pacific Center for Financial Services purchased a new stake in Fastenal during the 3rd quarter valued at $66,000. Institutional investors own 81.38% of the company’s stock.

Fastenal Price Performance

FAST stock traded down $0.06 during trading on Wednesday, reaching $66.35. The company’s stock had a trading volume of 869,472 shares, compared to its average volume of 3,929,150. Fastenal has a 1 year low of $52.86 and a 1 year high of $79.04. The company has a quick ratio of 2.49, a current ratio of 4.83 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $37.99 billion, a P/E ratio of 32.88, a price-to-earnings-growth ratio of 3.58 and a beta of 1.07. The company’s fifty day moving average is $72.87 and its 200-day moving average is $67.29.

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

Fastenal Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 23rd. Shareholders of record on Thursday, April 25th will be issued a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 2.35%. The ex-dividend date of this dividend is Wednesday, April 24th. Fastenal’s dividend payout ratio (DPR) is presently 77.23%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on FAST. Loop Capital reduced their price objective on Fastenal from $71.00 to $66.00 and set a “hold” rating for the company in a research note on Monday, April 15th. Robert W. Baird reduced their price objective on Fastenal from $71.00 to $69.00 and set a “neutral” rating for the company in a research note on Tuesday. HSBC upped their price objective on Fastenal from $59.00 to $64.00 and gave the stock a “hold” rating in a research note on Monday, April 15th. Finally, Stifel Nicolaus upped 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. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $67.33.

Insider Buying and Selling at Fastenal

In other Fastenal news, VP Charles S. Miller sold 11,076 shares of the stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $75.16, for a total transaction of $832,472.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Jeffery Michael Watts sold 19,420 shares of the stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $70.25, for a total value of $1,364,255.00. Following the completion of the transaction, the insider now owns 5,940 shares of the company’s stock, valued at approximately $417,285. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Charles S. Miller sold 11,076 shares of the firm’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $75.16, for a total transaction of $832,472.16. The disclosure for this sale can be found here. 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.