Northwestern Mutual Wealth Management Co. Boosts Holdings in Fastenal Company $FAST

Northwestern Mutual Wealth Management Co. increased its holdings in Fastenal Company (NASDAQ:FAST) by 67.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 138,071 shares of the company’s stock after buying an additional 55,412 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Fastenal were worth $5,541,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. REAP Financial Group LLC bought a new stake in Fastenal during the 3rd quarter worth approximately $30,000. Westfuller Advisors LLC bought a new stake in Fastenal during the 3rd quarter worth approximately $36,000. Measured Wealth Private Client Group LLC bought a new stake in Fastenal during the 3rd quarter worth approximately $36,000. Field & Main Bank bought a new stake in Fastenal during the 4th quarter worth approximately $30,000. Finally, N.E.W. Advisory Services LLC raised its stake in Fastenal by 101.2% during the 4th quarter. N.E.W. Advisory Services LLC now owns 871 shares of the company’s stock worth $35,000 after acquiring an additional 438 shares during the period. Hedge funds and other institutional investors own 81.38% of the company’s stock.

Insider Activity

In other news, Director Reyne K. Wisecup sold 36,920 shares of Fastenal stock in a transaction that occurred 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 sale, 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. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.28% of the stock is currently owned by insiders.

Fastenal Trading Up 0.9%

Fastenal stock opened at $43.94 on Friday. The stock has a market cap of $50.44 billion, a P/E ratio of 38.54, a PEG ratio of 2.80 and a beta of 0.75. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.39 and a quick ratio of 2.34. Fastenal Company has a 1 year low of $38.97 and a 1 year high of $50.63. The firm’s 50 day moving average price is $45.06 and its 200-day moving average price is $43.72.

Fastenal (NASDAQ:FAST) last released its quarterly earnings data on Monday, April 13th. The company reported $0.30 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.30. The firm had revenue of $2.20 billion for the quarter, compared to analysts’ expectations of $2.19 billion. Fastenal had a net margin of 15.39% and a return on equity of 33.25%. The company’s revenue for the quarter was up 12.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.52 earnings per share. On average, equities analysts predict that Fastenal Company will post 1.23 earnings per share for the current fiscal year.

Fastenal Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 26th. Stockholders of record on Tuesday, April 28th will be given a dividend of $0.24 per share. The ex-dividend date is Tuesday, April 28th. This represents a $0.96 annualized dividend and a dividend yield of 2.2%. Fastenal’s dividend payout ratio (DPR) is presently 84.21%.

Analyst Upgrades and Downgrades

FAST has been the topic of a number of recent analyst reports. Wolfe Research decreased their target price on shares of Fastenal from $46.00 to $45.00 and set an “underperform” rating on the stock in a research note on Tuesday, April 14th. Weiss Ratings restated a “buy (b-)” rating on shares of Fastenal in a research note on Friday, March 27th. JPMorgan Chase & Co. raised their target price on shares of Fastenal from $46.00 to $47.00 and gave the stock a “neutral” rating in a research note on Thursday, April 9th. Bank of America raised their target price on shares of Fastenal from $48.00 to $55.00 in a research note on Monday, April 13th. Finally, Morgan Stanley restated a “positive” rating and set a $45.00 target price on shares of Fastenal in a research note on Thursday, March 5th. Five research analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $49.77.

Fastenal Company 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.