Fastenal Company $FAST Shares Acquired by SG Americas Securities LLC

SG Americas Securities LLC lifted its position in shares of Fastenal Company (NASDAQ:FAST) by 217.5% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 1,332,484 shares of the company’s stock after purchasing an additional 912,860 shares during the quarter. SG Americas Securities LLC’s holdings in Fastenal were worth $53,473,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the business. Twin Peaks Wealth Advisors LLC acquired a new position in Fastenal during the second quarter valued at approximately $27,000. SOA Wealth Advisors LLC. increased its position in shares of Fastenal by 71.6% in the third quarter. SOA Wealth Advisors LLC. now owns 611 shares of the company’s stock worth $30,000 after acquiring an additional 255 shares in the last quarter. REAP Financial Group LLC purchased a new position in shares of Fastenal in the 3rd quarter valued at $30,000. First Horizon Corp purchased a new position in shares of Fastenal in the 3rd quarter valued at $33,000. Finally, Financial Perspectives Inc lifted its holdings in shares of Fastenal by 414.0% during the 3rd quarter. Financial Perspectives Inc now owns 699 shares of the company’s stock valued at $34,000 after acquiring an additional 563 shares in the last quarter. Hedge funds and other institutional investors own 81.38% of the company’s stock.

Fastenal Trading Up 1.0%

Shares of FAST opened at $44.89 on Wednesday. The company has a market capitalization of $51.55 billion, a P/E ratio of 40.81, a P/E/G ratio of 2.83 and a beta of 0.88. Fastenal Company has a one year low of $35.31 and a one year high of $50.63. 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 50-day moving average price of $45.37 and a 200 day moving average price of $43.87.

Fastenal (NASDAQ:FAST) last posted its quarterly earnings data on Tuesday, January 20th. The company reported $0.26 earnings per share (EPS) for the quarter, hitting 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 the consensus estimate of $2.04 billion. During the same period in the previous year, the business earned $0.46 EPS. Fastenal’s revenue for the quarter was up 11.1% compared to the same quarter last year. Sell-side analysts forecast that Fastenal Company will post 2.15 EPS for the current fiscal year.

Fastenal Increases Dividend

The business also recently declared 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 dividend yield of 2.1%. This is a boost from Fastenal’s previous quarterly dividend of $0.22. The ex-dividend date was Thursday, January 29th. Fastenal’s payout ratio is presently 87.27%.

Insiders Place Their Bets

In related news, Director Scott Satterlee sold 15,964 shares of the company’s stock in a transaction on Friday, January 23rd. The shares were sold at an average price of $44.19, for a total value of $705,449.16. Following the sale, the director directly owned 50,000 shares of the company’s stock, valued at $2,209,500. This represents a 24.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Reyne K. Wisecup sold 36,920 shares of the stock in a transaction on Thursday, March 5th. The shares were 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 in the company, valued at $1,893,600. This trade represents a 48.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.28% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of analysts recently weighed in on FAST shares. Robert W. Baird upped their price target on shares of Fastenal from $51.00 to $52.00 and gave the stock an “outperform” rating in a research report on Friday, March 6th. Jefferies Financial Group set a $52.00 price objective on Fastenal and gave the stock a “buy” rating in a research note on Monday, December 15th. Morgan Stanley restated a “positive” rating and set a $45.00 price objective on shares of Fastenal in a research note on Thursday, March 5th. Barclays increased their target price on Fastenal from $43.00 to $44.00 and gave the company an “equal weight” rating in a research note on Friday, March 6th. Finally, Sanford C. Bernstein reiterated an “underperform” rating on shares of Fastenal in a report on Wednesday, January 21st. Five equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $48.83.

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.