Strategic Blueprint LLC Takes $667,000 Position in Fastenal Company $FAST

Strategic Blueprint LLC bought a new position in Fastenal Company (NASDAQ:FAST) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 13,609 shares of the company’s stock, valued at approximately $667,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Integrated Wealth Concepts LLC grew its holdings in shares of Fastenal by 2.4% during the first quarter. Integrated Wealth Concepts LLC now owns 6,276 shares of the company’s stock worth $487,000 after purchasing an additional 147 shares during the last quarter. Sowell Financial Services LLC raised its holdings in shares of Fastenal by 4.7% in the third quarter. Sowell Financial Services LLC now owns 5,308 shares of the company’s stock valued at $260,000 after buying an additional 238 shares during the last quarter. Rowlandmiller & PARTNERS.ADV lifted its position in Fastenal by 1.7% during the 3rd quarter. Rowlandmiller & PARTNERS.ADV now owns 14,704 shares of the company’s stock worth $721,000 after buying an additional 250 shares in the last quarter. SOA Wealth Advisors LLC. grew its holdings in 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 acquiring an additional 255 shares during the last quarter. Finally, Salomon & Ludwin LLC increased its position in Fastenal by 28.1% in the 3rd quarter. Salomon & Ludwin LLC now owns 1,258 shares of the company’s stock valued at $60,000 after acquiring an additional 276 shares in the last quarter. 81.38% of the stock is owned by institutional investors and hedge funds.

Fastenal Stock Performance

Shares of Fastenal stock opened at $41.98 on Friday. The firm has a fifty day moving average of $41.01 and a two-hundred day moving average of $44.36. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.19 and a current ratio of 4.26. The stock has a market capitalization of $48.19 billion, a price-to-earnings ratio of 39.23, a PEG ratio of 3.00 and a beta of 0.90. Fastenal Company has a 52 week low of $35.31 and a 52 week high of $50.63.

Fastenal (NASDAQ:FAST) last posted its quarterly earnings results on Tuesday, October 14th. The company reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.01). The company had revenue of $2.13 billion during the quarter, compared to the consensus estimate of $2.13 billion. Fastenal had a return on equity of 32.69% and a net margin of 15.34%.The firm’s revenue for the quarter was up 11.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.26 earnings per share. As a group, equities research analysts predict that Fastenal Company will post 2.15 EPS for the current year.

Insider Activity

In other news, Director Hsenghung Sam Hsu acquired 1,000 shares of Fastenal stock in a transaction that occurred on Thursday, November 13th. The shares were acquired at an average price of $49.58 per share, with a total value of $49,580.00. Following the purchase, the director directly owned 10,000 shares of the company’s stock, valued at $495,800. The trade was a 11.11% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Sarah N. Nielsen bought 1,000 shares of the stock in a transaction on Wednesday, November 19th. The stock was purchased at an average cost of $39.60 per share, with a total value of $39,600.00. Following the purchase, the director directly owned 5,000 shares of the company’s stock, valued at approximately $198,000. This represents a 25.00% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have bought a total of 3,000 shares of company stock valued at $131,630 over the last 90 days. Corporate insiders own 0.37% of the company’s stock.

Analyst Upgrades and Downgrades

FAST has been the topic of a number of research reports. Robert W. Baird reduced their target price on shares of Fastenal from $53.00 to $49.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 14th. UBS Group raised Fastenal from a “hold” rating to a “buy” rating and upped their price objective for the stock from $45.00 to $52.00 in a report on Monday, December 15th. Sanford C. Bernstein reissued an “underperform” rating on shares of Fastenal in a research note on Monday, December 29th. Wolfe Research upgraded Fastenal from an “underperform” rating to a “peer perform” rating and set a $43.00 target price for the company in a research report on Thursday, November 13th. Finally, Jefferies Financial Group set a $52.00 price target on Fastenal and gave the company a “buy” rating in a research note on Monday, December 15th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $48.73.

About Fastenal

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.