Peak Financial Advisors LLC Invests $586,000 in Fastenal Company $FAST

Peak Financial Advisors LLC purchased a new position in shares of Fastenal Company (NASDAQ:FAST) during the fourth quarter, HoldingsChannel.com reports. The institutional investor purchased 14,606 shares of the company’s stock, valued at approximately $586,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. SOA Wealth Advisors LLC. grew its stake in shares of Fastenal by 71.6% in the 3rd quarter. SOA Wealth Advisors LLC. now owns 611 shares of the company’s stock valued at $30,000 after purchasing an additional 255 shares during the last quarter. REAP Financial Group LLC acquired a new position in shares of Fastenal in the third quarter valued at approximately $30,000. Twin Peaks Wealth Advisors LLC purchased a new stake in shares of Fastenal during the second quarter worth approximately $27,000. First Horizon Corp acquired a new stake in shares of Fastenal during the third quarter worth $33,000. Finally, Financial Perspectives Inc lifted its holdings in shares of Fastenal by 414.0% during the third quarter. Financial Perspectives Inc now owns 699 shares of the company’s stock worth $34,000 after purchasing an additional 563 shares during the period. 81.38% of the stock is owned by hedge funds and other institutional investors.

Fastenal Trading Up 1.1%

NASDAQ:FAST opened at $45.37 on Thursday. Fastenal Company has a 1 year low of $35.31 and a 1 year high of $50.63. 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 fifty day moving average price of $45.43 and a two-hundred day moving average price of $43.88. The stock has a market capitalization of $52.10 billion, a price-to-earnings ratio of 41.25, a PEG ratio of 2.85 and a beta of 0.88.

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

Fastenal Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, February 26th. Shareholders of record on Thursday, January 29th were given a dividend of $0.24 per share. The ex-dividend date was Thursday, January 29th. This is an increase from Fastenal’s previous quarterly dividend of $0.22. This represents a $0.96 annualized dividend and a yield of 2.1%. Fastenal’s dividend payout ratio (DPR) is currently 87.27%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Barclays boosted their price objective on shares of Fastenal from $43.00 to $44.00 and gave the company an “equal weight” rating in a research note on Friday, March 6th. Jefferies Financial Group set a $52.00 target price on shares of Fastenal and gave the company a “buy” rating in a report on Monday, December 15th. Benchmark reiterated a “buy” rating on shares of Fastenal in a research note on Thursday, March 5th. UBS Group reissued a “neutral” rating and set a $46.00 price target on shares of Fastenal in a report on Wednesday, January 21st. Finally, Raymond James Financial set a $48.00 price objective on Fastenal in a report 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 stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $48.83.

Insider Transactions at Fastenal

In other news, Director Scott Satterlee sold 15,964 shares of the business’s stock in a transaction that occurred 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 sale, the director owned 50,000 shares of the company’s stock, valued at $2,209,500. The trade was a 24.20% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Reyne K. Wisecup sold 36,920 shares of the company’s stock in a transaction that occurred on Thursday, March 5th. The stock was sold at an average price of $47.34, for a total value of $1,747,792.80. Following the completion of the sale, the director owned 40,000 shares in the company, valued at approximately $1,893,600. This represents a 48.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.28% of the company’s stock.

Fastenal 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.