LVW Advisors LLC Purchases Shares of 4,898 Fastenal (NASDAQ:FAST)

LVW Advisors LLC purchased a new stake in Fastenal (NASDAQ:FAST) in the 1st quarter, according to its most recent filing with the SEC. The fund purchased 4,898 shares of the company’s stock, valued at approximately $378,000.

Several other institutional investors also recently bought and sold shares of the business. Essex Financial Services Inc. raised its holdings in Fastenal by 1.8% in the 4th quarter. Essex Financial Services Inc. now owns 8,539 shares of the company’s stock valued at $553,000 after acquiring an additional 148 shares during the last quarter. Panagora Asset Management Inc. grew its stake in shares of Fastenal by 0.8% during the 4th quarter. Panagora Asset Management Inc. now owns 19,095 shares of the company’s stock valued at $1,237,000 after buying an additional 152 shares during the period. Hartford Financial Management Inc. grew its stake in shares of Fastenal by 46.9% during the 4th quarter. Hartford Financial Management Inc. now owns 479 shares of the company’s stock valued at $31,000 after buying an additional 153 shares during the period. Accredited Investors Inc. grew its stake in shares of Fastenal by 0.9% during the 4th quarter. Accredited Investors Inc. now owns 18,129 shares of the company’s stock valued at $1,174,000 after buying an additional 164 shares during the period. Finally, Empirical Asset Management LLC grew its stake in shares of Fastenal by 2.4% during the 4th quarter. Empirical Asset Management LLC now owns 7,212 shares of the company’s stock valued at $467,000 after buying an additional 171 shares during the period. 81.38% of the stock is currently owned by institutional investors and hedge funds.

Fastenal Stock Performance

NASDAQ:FAST opened at $62.84 on Monday. The company has a debt-to-equity ratio of 0.06, a current ratio of 4.83 and a quick ratio of 2.49. The firm has a 50-day moving average of $65.84 and a two-hundred day moving average of $68.65. The stock has a market cap of $35.98 billion, a P/E ratio of 31.11, a PEG ratio of 3.36 and a beta of 1.01. Fastenal has a 1-year low of $53.83 and a 1-year high of $79.04.

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

Fastenal Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, May 23rd. Stockholders of record on Thursday, April 25th were paid a $0.39 dividend. The ex-dividend date of this dividend was Wednesday, April 24th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.48%. Fastenal’s dividend payout ratio (DPR) is presently 77.23%.

Insider Transactions at Fastenal

In related news, Director Daniel L. Johnson purchased 3,350 shares of Fastenal stock in a transaction dated Wednesday, April 17th. The shares were acquired at an average price of $68.38 per share, with a total value of $229,073.00. Following the completion of the transaction, the director now owns 10,595 shares of the company’s stock, valued at approximately $724,486.10. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. In other Fastenal news, EVP James C. Jansen sold 11,428 shares of the firm’s stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $64.07, for a total value of $732,191.96. Following the transaction, the executive vice president now owns 26,176 shares of the company’s stock, valued at $1,677,096.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Daniel L. Johnson bought 3,350 shares of the business’s stock in a transaction on Wednesday, April 17th. The stock was acquired at an average cost of $68.38 per share, for a total transaction of $229,073.00. Following the acquisition, the director now directly owns 10,595 shares of the company’s stock, valued at $724,486.10. The disclosure for this purchase can be found here. Corporate insiders own 0.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. HSBC boosted their price objective 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. Stifel Nicolaus upped their price target on shares of Fastenal from $75.00 to $85.00 and gave the stock a “buy” rating in a research report on Monday, March 18th. Loop Capital decreased their price target on shares of Fastenal from $71.00 to $66.00 and set a “hold” rating for the company in a research report on Monday, April 15th. Finally, Robert W. Baird decreased their price target on shares of Fastenal from $71.00 to $69.00 and set a “neutral” rating for the company in a research report on Tuesday, May 7th. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $68.80.

About Fastenal

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.