Transcend Capital Advisors LLC Increases Stake in Fastenal Company $FAST

Transcend Capital Advisors LLC raised its position in shares of Fastenal Company (NASDAQ:FAST) by 51.9% in the third quarter, Holdings Channel reports. The firm owned 37,913 shares of the company’s stock after acquiring an additional 12,948 shares during the quarter. Transcend Capital Advisors LLC’s holdings in Fastenal were worth $1,859,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of FAST. Hilltop National Bank bought a new stake in shares of Fastenal during the second quarter valued at approximately $27,000. Private Wealth Management Group LLC boosted its stake in Fastenal by 111.9% during the 2nd quarter. Private Wealth Management Group LLC now owns 642 shares of the company’s stock valued at $27,000 after purchasing an additional 339 shares during the last quarter. Twin Peaks Wealth Advisors LLC bought a new stake in shares of Fastenal in the 2nd quarter worth $27,000. NewSquare Capital LLC raised its stake in shares of Fastenal by 197.5% in the second quarter. NewSquare Capital LLC now owns 714 shares of the company’s stock worth $30,000 after purchasing an additional 474 shares during the last quarter. Finally, MV Capital Management Inc. raised its stake in shares of Fastenal by 96.1% in the second quarter. MV Capital Management Inc. now owns 712 shares of the company’s stock worth $30,000 after purchasing an additional 349 shares during the last quarter. 81.38% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Wolfe Research reduced their price objective on Fastenal from $43.00 to $42.00 and set an “underperform” rating for the company in a report on Wednesday, January 21st. Jefferies Financial Group set a $52.00 price target on shares of Fastenal and gave the stock a “buy” rating in a research note on Monday, December 15th. Sanford C. Bernstein restated an “underperform” rating on shares of Fastenal in a research report on Wednesday, January 21st. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Fastenal in a research report on Monday, December 29th. Finally, Barclays set a $43.00 price target on Fastenal and gave the company an “equal weight” rating in a report on Wednesday, January 21st. Four research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Fastenal has an average rating of “Hold” and a consensus target price of $48.00.

Insider Buying and Selling

In related news, Director Hsenghung Sam Hsu acquired 1,000 shares of the company’s stock in a transaction on Thursday, November 13th. The stock was acquired at an average price of $49.58 per share, with a total value of $49,580.00. Following the acquisition, the director directly owned 10,000 shares of the company’s stock, valued at approximately $495,800. This trade represents a 11.11% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, Director Sarah N. Nielsen acquired 1,000 shares of the business’s stock in a transaction dated Wednesday, November 19th. The shares were purchased at an average price of $39.60 per share, with a total value of $39,600.00. Following the transaction, the director owned 5,000 shares of the company’s stock, valued at approximately $198,000. This represents a 25.00% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 0.37% of the stock is owned by company insiders.

Fastenal Stock Performance

NASDAQ FAST opened at $43.36 on Monday. The company has a quick ratio of 2.41, a current ratio of 4.85 and a debt-to-equity ratio of 0.03. Fastenal Company has a twelve month low of $35.31 and a twelve month high of $50.63. The business has a 50-day moving average price of $41.86 and a 200-day moving average price of $44.43. The firm has a market cap of $49.78 billion, a price-to-earnings ratio of 39.42, a price-to-earnings-growth ratio of 2.76 and a beta of 0.89.

Fastenal (NASDAQ:FAST) last issued its earnings results on Tuesday, January 20th. The company reported $0.26 earnings per share (EPS) 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 the consensus estimate of $2.04 billion. During the same quarter last year, the company earned $0.46 EPS. The firm’s quarterly revenue was up 11.1% on a year-over-year basis. As a group, equities research analysts predict that Fastenal Company will post 2.15 EPS for the current fiscal year.

Fastenal Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, February 26th. Stockholders of record on Thursday, January 29th will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 2.2%. This is a boost from Fastenal’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Thursday, January 29th. Fastenal’s payout ratio is presently 87.27%.

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.