Fastenal Company $FAST Shares Bought by Stance Capital LLC

Stance Capital LLC grew its position in Fastenal Company (NASDAQ:FAST) by 653.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 54,976 shares of the company’s stock after acquiring an additional 47,676 shares during the period. Fastenal comprises 1.0% of Stance Capital LLC’s portfolio, making the stock its 28th largest holding. Stance Capital LLC’s holdings in Fastenal were worth $2,696,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Twin Peaks Wealth Advisors LLC acquired a new position in Fastenal during the 2nd quarter worth approximately $27,000. SOA Wealth Advisors LLC. raised its stake in shares of Fastenal by 71.6% during the 3rd quarter. SOA Wealth Advisors LLC. now owns 611 shares of the company’s stock worth $30,000 after buying an additional 255 shares in the last quarter. REAP Financial Group LLC acquired a new stake in shares of Fastenal in the 3rd quarter valued at approximately $30,000. First Horizon Corp purchased a new stake in shares of Fastenal in the third quarter valued at approximately $33,000. Finally, Financial Perspectives Inc boosted its stake in shares of Fastenal by 414.0% in the third quarter. Financial Perspectives Inc now owns 699 shares of the company’s stock valued at $34,000 after buying an additional 563 shares in the last quarter. 81.38% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have issued reports on FAST shares. Barclays increased their price objective on Fastenal from $43.00 to $44.00 and gave the stock an “equal weight” rating in a research report on Friday, March 6th. Wolfe Research upped their price target on shares of Fastenal from $42.00 to $43.00 and gave the stock an “underperform” rating in a research note on Friday, February 27th. Robert W. Baird increased their price target on shares of Fastenal from $51.00 to $52.00 and gave the company an “outperform” rating in a report on Friday, March 6th. Morgan Stanley reiterated a “positive” rating and issued a $45.00 price objective on shares of Fastenal in a research note on Thursday, March 5th. Finally, Benchmark reissued a “buy” rating on shares of Fastenal in a report on Thursday, March 5th. Five equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $48.83.

Fastenal Stock Performance

Shares of FAST stock opened at $45.93 on Wednesday. The stock has a fifty day moving average price of $45.09 and a 200 day moving average price of $44.04. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.41 and a current ratio of 4.85. The stock has a market cap of $52.74 billion, a PE ratio of 41.75, a P/E/G ratio of 2.91 and a beta of 0.88. Fastenal Company has a 1 year low of $35.31 and a 1 year high of $50.63.

Fastenal (NASDAQ:FAST) last posted its earnings results on Tuesday, January 20th. The company reported $0.26 earnings per share for the quarter, meeting the consensus estimate of $0.26. Fastenal had a return on equity of 32.83% and a net margin of 15.35%.The company had revenue of $2.03 billion for the quarter, compared to analyst estimates of $2.04 billion. During the same quarter in the prior year, the company earned $0.46 earnings per share. Fastenal’s revenue was up 11.1% compared to the same quarter last year. Sell-side analysts forecast that Fastenal Company will post 2.15 earnings per share for the current fiscal year.

Fastenal Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 26th. Investors of record on Thursday, January 29th were paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date of this dividend was Thursday, January 29th. This is a positive change from Fastenal’s previous quarterly dividend of $0.22. Fastenal’s dividend payout ratio is currently 87.27%.

Insider Activity

In other Fastenal news, Director Scott Satterlee sold 15,964 shares of the firm’s stock in a transaction dated Friday, January 23rd. The shares were sold at an average price of $44.19, for a total transaction of $705,449.16. Following the completion of the transaction, the director directly owned 50,000 shares in the company, valued at approximately $2,209,500. This trade represents a 24.20% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Reyne K. Wisecup sold 36,920 shares of Fastenal stock in a transaction dated Thursday, March 5th. The stock was sold at an average price of $47.34, for a total transaction of $1,747,792.80. Following the transaction, the director owned 40,000 shares of the company’s stock, valued at approximately $1,893,600. The trade was a 48.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.28% of the company’s stock.

Fastenal Profile

Fastenal (NASDAQ: FAST) is a wholesale distributor of industrial and construction supplies, best known for its broad assortment of fasteners such as bolts, nuts, screws and anchors. Founded in Winona, Minnesota, Fastenal has grown from a regional supplier into a national and international distributor serving a wide range of end markets, including manufacturing, construction, maintenance, repair and operations (MRO), and government customers. The company is publicly traded and operates through a network of locally staffed branches combined with national distribution capabilities.

Product offerings extend beyond fasteners to include tools, safety and personal protective equipment, power transmission components, cutting and welding supplies, janitorial and material handling items, and other industrial consumables.