12,779 Fastenal Company $FAST Shares Acquired by Prime Capital Investment Advisors LLC

Prime Capital Investment Advisors LLC increased its stake in shares of Fastenal Company (NASDAQ:FAST) by 11.7% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 122,107 shares of the company’s stock after buying an additional 12,779 shares during the period. Prime Capital Investment Advisors LLC’s holdings in Fastenal were worth $6,048,000 as of its most recent filing with the SEC.

Several other institutional investors have also added to or reduced their stakes in the company. Evergreen Advisors LLC bought a new stake in shares of Fastenal in the first quarter valued at about $26,000. Mowery & Schoenfeld Wealth Management LLC bought a new position in Fastenal in the second quarter valued at approximately $26,000. Raleigh Capital Management Inc. increased its stake in shares of Fastenal by 69.6% in the 1st quarter. Raleigh Capital Management Inc. now owns 748 shares of the company’s stock valued at $35,000 after purchasing an additional 307 shares during the last quarter. Frazier Financial Advisors LLC bought a new position in Fastenal in the second quarter valued at about $38,000. Finally, Paladin Partners LLC acquired a new position in Fastenal during the 2nd quarter worth approximately $39,000. 81.38% of the stock is currently owned by institutional investors.

Insider Activity at Fastenal

In related news, Director Rita J. Heise sold 34,964 shares of the company’s stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $50.05, for a total transaction of $1,749,948.20. Following the sale, the director directly owned 20,000 shares in the company, valued at approximately $1,001,000. This represents a 63.61% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Michael Ancius sold 3,000 shares of the business’s stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $49.00, for a total transaction of $147,000.00. Following the sale, the director directly owned 58,690 shares in the company, valued at $2,875,810. The trade was a 4.86% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.28% of the company’s stock.

Wall Street Analysts Forecast Growth

FAST has been the subject of a number of recent research reports. DA Davidson set a $51.00 target price on Fastenal and gave the stock a “neutral” rating in a report on Tuesday, October 13th. Sanford C. Bernstein restated an “underperform” rating and issued a $47.00 target price (up from $42.00) on shares of Fastenal in a report on Thursday, October 15th. Wolfe Research assumed coverage on Fastenal in a report on Tuesday, September 15th. They set an “underperform” rating and a $51.00 price target on the stock. Rothschild & Co Redburn set a $55.00 price objective on shares of Fastenal and gave the stock a “buy” rating in a research report on Monday, July 13th. Finally, William Blair reissued an “outperform” rating on shares of Fastenal in a research report on Friday, September 4th. Six analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $50.83.

Fastenal Stock Up 1.2%

Shares of NASDAQ:FAST opened at $51.65 on Wednesday. The company has a market capitalization of $59.27 billion, a PE ratio of 41.65, a price-to-earnings-growth ratio of 3.07 and a beta of 0.69. The business has a fifty day moving average price of $50.31 and a two-hundred day moving average price of $47.61. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.93 and a quick ratio of 2.11. Fastenal Company has a 1 year low of $38.97 and a 1 year high of $52.92.

Fastenal (NASDAQ:FAST) last announced its quarterly earnings data on Wednesday, October 14th. The company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.34 by $0.01. Fastenal had a net margin of 15.62% and a return on equity of 35.13%. The business had revenue of $2.46 billion for the quarter, compared to analyst estimates of $2.44 billion. During the same quarter in the previous year, the firm posted $0.29 earnings per share. The company’s revenue for the quarter was up 15.5% on a year-over-year basis. Analysts forecast that Fastenal Company will post 1.27 earnings per share for the current year.

Fastenal Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 25th. Investors of record on Wednesday, October 28th will be issued a $0.26 dividend. The ex-dividend date of this dividend is Wednesday, October 28th. This represents a $1.04 annualized dividend and a yield of 2.0%. Fastenal’s dividend payout ratio (DPR) is 83.87%.

Fastenal Profile

Fastenal Company is a distributor of industrial and construction supplies headquartered in Winona, Minnesota. Founded in 1967, the company primarily serves businesses that require products for manufacturing, construction, maintenance, repair and operations.

Its product range includes threaded fasteners, bolts, nuts, screws, industrial and safety supplies, tools, electrical and plumbing products, material-handling equipment, and other related items. Fastenal also provides inventory-management solutions, including automated vending machines, customer-specific inventory programs and onsite services designed to improve product availability and purchasing efficiency.

Fastenal serves customers through a network of locations and sales channels across the United States, Canada, Mexico, Europe and parts of Asia.