Atlas Brown Inc. Makes New Investment in Fastenal (NASDAQ:FAST)

Atlas Brown Inc. purchased a new position in shares of Fastenal (NASDAQ:FAST) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 4,657 shares of the company’s stock, valued at approximately $359,000.

A number of other institutional investors have also recently bought and sold shares of FAST. Hartford Financial Management Inc. boosted its stake in Fastenal by 46.9% during the fourth quarter. Hartford Financial Management Inc. now owns 479 shares of the company’s stock worth $31,000 after buying an additional 153 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of Fastenal in the 4th quarter valued at $35,000. Criterion Capital Advisors LLC acquired a new stake in shares of Fastenal in the 4th quarter valued at $43,000. First Horizon Advisors Inc. boosted its stake in shares of Fastenal by 283.2% in the 4th quarter. First Horizon Advisors Inc. now owns 755 shares of the company’s stock valued at $49,000 after purchasing an additional 558 shares in the last quarter. Finally, Frazier Financial Advisors LLC acquired a new stake in shares of Fastenal in the 4th quarter valued at $52,000. Institutional investors and hedge funds own 81.38% of the company’s stock.

Fastenal Stock Performance

Fastenal stock opened at $64.95 on Thursday. The stock has a 50-day simple moving average of $66.49 and a 200 day simple moving average of $68.53. The company has a quick ratio of 2.49, a current ratio of 4.83 and a debt-to-equity ratio of 0.06. Fastenal has a 12-month low of $53.83 and a 12-month high of $79.04. The stock has a market capitalization of $37.19 billion, a price-to-earnings ratio of 32.15, a P/E/G ratio of 3.47 and a beta of 1.02.

Fastenal (NASDAQ:FAST) last announced its quarterly earnings data on Thursday, April 11th. The company reported $0.52 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.01). The firm had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.91 billion. Fastenal had a return on equity of 33.98% and a net margin of 15.68%. The business’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.52 earnings per share. On average, research analysts anticipate that Fastenal will post 2.08 earnings per share for the current fiscal year.

Fastenal Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 23rd. Shareholders of record on Thursday, April 25th were issued a dividend of $0.39 per share. The ex-dividend date was Wednesday, April 24th. This represents a $1.56 annualized dividend and a yield of 2.40%. Fastenal’s dividend payout ratio is currently 77.23%.

Analyst Upgrades and Downgrades

FAST has been the topic of several recent analyst reports. Robert W. Baird reduced their target price on shares of Fastenal from $71.00 to $69.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 7th. Stifel Nicolaus boosted their target price on shares of Fastenal from $75.00 to $85.00 and gave the company a “buy” rating in a research note on Monday, March 18th. HSBC boosted their target price on shares of Fastenal from $59.00 to $64.00 and gave the company a “hold” rating in a research note on Monday, April 15th. Finally, Loop Capital cut their price target on Fastenal from $71.00 to $66.00 and set a “hold” rating for the company in a report on Monday, April 15th. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, Fastenal has an average rating of “Hold” and an average target price of $68.80.

Insiders Place Their Bets

In other news, Director Hsenghung Sam Hsu acquired 500 shares of the company’s stock in a transaction on Monday, June 10th. The stock was purchased at an average cost of $63.28 per share, with a total value of $31,640.00. Following the acquisition, the director now owns 3,500 shares of the company’s stock, valued at approximately $221,480. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, Director Hsenghung Sam Hsu acquired 500 shares of the company’s stock in a transaction on Monday, June 10th. The stock was purchased at an average cost of $63.28 per share, with a total value of $31,640.00. Following the acquisition, the director now owns 3,500 shares of the company’s stock, valued at approximately $221,480. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Daniel L. Johnson purchased 3,350 shares of the stock in a transaction dated Wednesday, April 17th. The stock was bought at an average cost of $68.38 per share, with a total value of $229,073.00. Following the completion of the purchase, the director now owns 10,595 shares in the company, valued at $724,486.10. The disclosure for this purchase can be found here. Company insiders own 0.41% of the company’s stock.

Fastenal Profile

Fastenal Company, together with its subsidiaries, engages in the wholesale distribution of industrial and construction supplies in the United States, Canada, Mexico, North America, and internationally. It offers fasteners, and related industrial and construction supplies under the Fastenal name. The company's fastener products include threaded fasteners, bolts, nuts, screws, studs, and related washers that are used in manufactured products and construction projects, as well as in the maintenance and repair of machines.