EverSource Wealth Advisors LLC Has $135,000 Stake in Fastenal (NASDAQ:FAST)

EverSource Wealth Advisors LLC raised its stake in Fastenal (NASDAQ:FAST) by 20.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,142 shares of the company’s stock after purchasing an additional 368 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in Fastenal were worth $135,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. ProShare Advisors LLC grew its holdings in Fastenal by 497.3% during the first quarter. ProShare Advisors LLC now owns 3,099,333 shares of the company’s stock worth $239,083,000 after buying an additional 2,580,478 shares in the last quarter. Baird Financial Group Inc. grew its stake in shares of Fastenal by 15.2% in the 4th quarter. Baird Financial Group Inc. now owns 7,928,209 shares of the company’s stock worth $513,510,000 after acquiring an additional 1,043,529 shares in the last quarter. Los Angeles Capital Management LLC raised its holdings in shares of Fastenal by 46.2% in the first quarter. Los Angeles Capital Management LLC now owns 3,185,855 shares of the company’s stock valued at $245,757,000 after purchasing an additional 1,006,402 shares during the last quarter. Epoch Investment Partners Inc. lifted its position in shares of Fastenal by 76.8% during the fourth quarter. Epoch Investment Partners Inc. now owns 1,690,801 shares of the company’s stock valued at $109,513,000 after purchasing an additional 734,629 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in Fastenal by 19.9% during the second quarter. Dimensional Fund Advisors LP now owns 3,837,530 shares of the company’s stock worth $241,161,000 after purchasing an additional 636,546 shares during the last quarter. Institutional investors own 81.38% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Daniel L. Florness sold 50,000 shares of the business’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $69.68, for a total transaction of $3,484,000.00. Following the completion of the transaction, the chief executive officer now directly owns 286,018 shares in the company, valued at approximately $19,929,734.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Daniel L. Florness sold 45,744 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $68.14, for a total value of $3,116,996.16. Following the sale, the chief executive officer now directly owns 286,018 shares of the company’s stock, valued at $19,489,266.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Daniel L. Florness sold 50,000 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $69.68, for a total transaction of $3,484,000.00. Following the completion of the transaction, the chief executive officer now directly owns 286,018 shares of the company’s stock, valued at approximately $19,929,734.24. The disclosure for this sale can be found here. Corporate insiders own 0.41% of the company’s stock.

Fastenal Trading Up 1.3 %

Shares of Fastenal stock opened at $71.65 on Friday. The stock has a market capitalization of $41.02 billion, a P/E ratio of 35.65, a P/E/G ratio of 3.92 and a beta of 1.01. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.29 and a current ratio of 4.39. The stock’s 50-day simple moving average is $68.20 and its 200 day simple moving average is $68.37. Fastenal has a 52-week low of $53.94 and a 52-week high of $79.04.

Fastenal (NASDAQ:FAST) last announced its quarterly earnings results on Friday, July 12th. The company reported $0.51 earnings per share for the quarter, meeting the consensus estimate of $0.51. The company had revenue of $1.92 billion during the quarter, compared to analysts’ expectations of $1.91 billion. Fastenal had a return on equity of 33.54% and a net margin of 15.54%. The firm’s quarterly revenue was up 1.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.52 earnings per share. As a group, research analysts anticipate that Fastenal will post 2.04 EPS for the current year.

Fastenal Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Friday, July 26th were issued a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 2.18%. The ex-dividend date of this dividend was Friday, July 26th. Fastenal’s dividend payout ratio (DPR) is presently 77.61%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Jefferies Financial Group decreased their price objective on shares of Fastenal from $74.00 to $65.00 and set a “hold” rating for the company in a research note on Thursday, July 11th. Stifel Nicolaus reiterated a “buy” rating and set a $80.00 price target (down from $85.00) on shares of Fastenal in a report on Monday, July 15th. Morgan Stanley initiated coverage on Fastenal in a research note on Friday, September 6th. They issued an “equal weight” rating and a $72.00 price objective for the company. Finally, Stephens reiterated an “equal weight” rating and set a $56.00 target price on shares of Fastenal in a research note on Monday, July 15th. Seven research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $67.43.

Fastenal Company 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.