Azzad Asset Management Inc. ADV Has $8.99 Million Stock Position in Fastenal Company $FAST

Azzad Asset Management Inc. ADV increased its stake in shares of Fastenal Company (NASDAQ:FAST) by 16.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 183,381 shares of the company’s stock after purchasing an additional 25,645 shares during the quarter. Fastenal makes up 0.9% of Azzad Asset Management Inc. ADV’s holdings, making the stock its 9th largest position. Azzad Asset Management Inc. ADV’s holdings in Fastenal were worth $8,993,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in FAST. Private Wealth Management Group LLC boosted its holdings in shares of Fastenal by 111.9% in the 2nd quarter. Private Wealth Management Group LLC now owns 642 shares of the company’s stock valued at $27,000 after buying an additional 339 shares in the last quarter. Twin Peaks Wealth Advisors LLC purchased a new stake in Fastenal during the second quarter valued at approximately $27,000. NewSquare Capital LLC boosted its stake in Fastenal by 197.5% in the second quarter. NewSquare Capital LLC now owns 714 shares of the company’s stock valued at $30,000 after acquiring an additional 474 shares in the last quarter. MV Capital Management Inc. grew its holdings in 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. Finally, SOA Wealth Advisors LLC. grew its holdings in 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 purchasing an additional 255 shares during the last quarter. Hedge funds and other institutional investors own 81.38% of the company’s stock.

Insider Buying and Selling at Fastenal

In other Fastenal news, Director Sarah N. Nielsen acquired 1,000 shares of the company’s stock in a transaction dated Wednesday, November 19th. The shares were acquired at an average cost of $39.60 per share, with a total value of $39,600.00. Following the acquisition, the director directly owned 5,000 shares of the company’s stock, valued at approximately $198,000. The trade was a 25.00% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Scott Satterlee sold 15,964 shares of the stock in a transaction on Friday, January 23rd. The stock was sold at an average price of $44.19, for a total transaction of $705,449.16. Following the completion of the sale, the director owned 50,000 shares in the company, valued at $2,209,500. The trade was a 24.20% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.37% of the company’s stock.

Fastenal Stock Performance

Shares of FAST opened at $47.73 on Friday. 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 of $42.54 and a two-hundred day moving average of $44.46. The stock has a market cap of $54.80 billion, a P/E ratio of 43.39, a P/E/G ratio of 3.04 and a beta of 0.89. Fastenal Company has a one year low of $35.31 and a one year high of $50.63.

Fastenal (NASDAQ:FAST) last announced its quarterly earnings data on Tuesday, January 20th. The company reported $0.26 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.26. Fastenal had a return on equity of 32.83% and a net margin of 15.35%.The business had revenue of $2.03 billion for the quarter, compared to analyst estimates of $2.04 billion. During the same period in the prior year, the company earned $0.46 earnings per share. The company’s revenue was up 11.1% on a year-over-year basis. As a group, research analysts predict that Fastenal Company will post 2.15 EPS for the current year.

Fastenal Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 26th. Shareholders of record on Thursday, January 29th will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Thursday, January 29th. This represents a $0.96 dividend on an annualized basis and a yield of 2.0%. This is a boost from Fastenal’s previous quarterly dividend of $0.22. Fastenal’s payout ratio is 87.27%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Robert W. Baird increased their price objective on Fastenal from $49.00 to $51.00 and gave the company an “outperform” rating in a report on Thursday. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Fastenal in a research report on Monday, December 29th. Jefferies Financial Group set a $52.00 price target on Fastenal and gave the stock a “buy” rating in a report on Monday, December 15th. UBS Group restated a “neutral” rating and set a $46.00 price target on shares of Fastenal in a research note on Wednesday, January 21st. Finally, Sanford C. Bernstein restated an “underperform” rating on shares of Fastenal in a report on Wednesday, January 21st. Four 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 data from MarketBeat.com, Fastenal currently has an average rating of “Hold” and a consensus price target of $48.18.

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.