Koshinski Asset Management Inc. Purchases 413 Shares of Fastenal (NASDAQ:FAST)

Koshinski Asset Management Inc. boosted its position in Fastenal (NASDAQ:FAST) by 8.5% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 5,256 shares of the company’s stock after purchasing an additional 413 shares during the period. Koshinski Asset Management Inc.’s holdings in Fastenal were worth $375,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Nomura Holdings Inc. bought a new stake in Fastenal during the fourth quarter valued at about $747,000. BI Asset Management Fondsmaeglerselskab A S grew its stake in shares of Fastenal by 98.6% during the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 118,301 shares of the company’s stock valued at $9,126,000 after acquiring an additional 58,726 shares during the period. Empowered Funds LLC increased its holdings in Fastenal by 205.4% in the 1st quarter. Empowered Funds LLC now owns 27,181 shares of the company’s stock worth $2,097,000 after acquiring an additional 18,281 shares in the last quarter. Cetera Investment Advisers raised its stake in Fastenal by 499.7% during the 1st quarter. Cetera Investment Advisers now owns 132,046 shares of the company’s stock worth $10,186,000 after acquiring an additional 110,027 shares during the period. Finally, Nordea Investment Management AB lifted its holdings in Fastenal by 7.2% during the first quarter. Nordea Investment Management AB now owns 1,371,825 shares of the company’s stock valued at $106,316,000 after purchasing an additional 91,754 shares in the last quarter. 81.38% of the stock is currently owned by institutional investors.

Fastenal Price Performance

Shares of Fastenal stock opened at $76.91 on Wednesday. The firm has a market cap of $44.03 billion, a PE ratio of 38.26, a PEG ratio of 4.13 and a beta of 1.01. The stock has a 50 day moving average of $69.21 and a 200 day moving average of $67.88. The company has a current ratio of 4.39, a quick ratio of 2.29 and a debt-to-equity ratio of 0.04. Fastenal has a 12 month low of $56.41 and a 12 month high of $79.04.

Fastenal (NASDAQ:FAST) last posted its earnings results on Friday, October 11th. The company reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.01. Fastenal had a return on equity of 33.54% and a net margin of 15.54%. The firm had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.90 billion. During the same period in the prior year, the company earned $0.52 EPS. The company’s quarterly revenue was up 3.5% compared to the same quarter last year. On average, research analysts expect that Fastenal will post 2.04 EPS for the current fiscal year.

Fastenal Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Friday, October 25th will be paid a $0.39 dividend. The ex-dividend date is Friday, October 25th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.03%. Fastenal’s payout ratio is currently 77.61%.

Insider Transactions at Fastenal

In related news, CEO Daniel L. Florness sold 50,000 shares of the stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $69.68, for a total value of $3,484,000.00. Following the completion of the transaction, the chief executive officer now owns 286,018 shares of the company’s stock, valued at approximately $19,929,734.24. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Daniel L. Florness sold 45,744 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $68.14, for a total transaction of $3,116,996.16. Following the transaction, the chief executive officer now owns 286,018 shares of the company’s stock, valued at approximately $19,489,266.52. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Daniel L. Florness sold 50,000 shares of the stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $69.68, for a total value of $3,484,000.00. Following the sale, the chief executive officer now owns 286,018 shares in the company, valued at $19,929,734.24. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.41% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Bank of America started coverage on shares of Fastenal in a research note on Monday, October 7th. They issued a “buy” rating and a $85.00 price objective for the company. Jefferies Financial Group cut their price target on Fastenal from $74.00 to $65.00 and set a “hold” rating for the company in a research note on Thursday, July 11th. Robert W. Baird boosted their price objective on Fastenal from $67.00 to $80.00 and gave the company a “neutral” rating in a research report on Monday. JPMorgan Chase & Co. increased their target price on Fastenal from $57.00 to $63.00 and gave the stock a “neutral” rating in a research report on Thursday, October 10th. Finally, Stephens boosted their price target on Fastenal from $56.00 to $75.00 and gave the stock an “equal weight” rating in a report on Monday. Seven investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Fastenal presently has an average rating of “Hold” and a consensus price target of $73.33.

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.