Fastenal (NASDAQ:FAST) Shares Purchased by King Luther Capital Management Corp

King Luther Capital Management Corp raised its stake in Fastenal (NASDAQ:FAST) by 1.6% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 8,664 shares of the company’s stock after buying an additional 136 shares during the period. King Luther Capital Management Corp’s holdings in Fastenal were worth $619,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Ashton Thomas Securities LLC acquired a new stake in shares of Fastenal during the third quarter worth $25,000. Knuff & Co LLC purchased a new position in Fastenal in the 3rd quarter worth about $27,000. Central Valley Advisors LLC acquired a new stake in Fastenal during the 2nd quarter worth about $28,000. Triad Wealth Partners LLC acquired a new position in shares of Fastenal in the second quarter worth about $32,000. Finally, Crewe Advisors LLC boosted its holdings in shares of Fastenal by 528.4% in the second quarter. Crewe Advisors LLC now owns 509 shares of the company’s stock worth $32,000 after buying an additional 428 shares during the period. Institutional investors and hedge funds own 81.38% of the company’s stock.

Fastenal Trading Up 0.9 %

Shares of NASDAQ FAST opened at $83.08 on Friday. The stock has a market cap of $47.60 billion, a price-to-earnings ratio of 41.33, a PEG ratio of 4.83 and a beta of 0.99. The business has a 50 day simple moving average of $76.26 and a 200 day simple moving average of $69.74. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.29 and a current ratio of 4.40. Fastenal has a 52 week low of $59.47 and a 52 week high of $84.88.

Fastenal (NASDAQ:FAST) last posted its earnings results on Friday, October 11th. The company reported $0.52 EPS for the quarter, topping the consensus estimate of $0.51 by $0.01. The company had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.90 billion. Fastenal had a net margin of 15.44% and a return on equity of 33.30%. The company’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.52 earnings per share. On average, research analysts predict that Fastenal will post 2.03 earnings per share for the current fiscal year.

Fastenal Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Friday, October 25th were issued a dividend of $0.39 per share. The ex-dividend date was Friday, October 25th. This represents a $1.56 annualized dividend and a yield of 1.88%. Fastenal’s dividend payout ratio (DPR) is presently 77.61%.

Insider Activity

In other news, VP Charles S. Miller sold 23,480 shares of the company’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $83.92, for a total transaction of $1,970,441.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Daniel L. Johnson sold 8,474 shares of the firm’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $83.36, for a total transaction of $706,392.64. Following the completion of the sale, the director now owns 10,595 shares in the company, valued at approximately $883,199.20. The trade was a 44.44 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 208,289 shares of company stock valued at $16,123,438 over the last 90 days. 0.41% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. UBS Group started coverage on shares of Fastenal in a research report on Wednesday, November 13th. They issued a “neutral” rating and a $88.00 price target for the company. JPMorgan Chase & Co. raised 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. Morgan Stanley upped their price target on Fastenal from $72.00 to $76.00 and gave the company an “equal weight” rating in a research report on Monday, October 14th. Stephens raised their price objective on Fastenal from $56.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Monday, October 14th. Finally, Bank of America assumed coverage on shares of Fastenal in a research report on Monday, October 7th. They issued a “buy” rating and a $85.00 price target for the company. Eight equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, Fastenal has an average rating of “Hold” and an average target price of $74.80.

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.