SG Americas Securities LLC Boosts Holdings in Fastenal Company $FAST

SG Americas Securities LLC raised its holdings in Fastenal Company (NASDAQ:FAST) by 217.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,332,484 shares of the company’s stock after purchasing an additional 912,860 shares during the period. SG Americas Securities LLC owned 0.12% of Fastenal worth $53,473,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Twin Peaks Wealth Advisors LLC acquired a new position in shares of Fastenal during the 2nd quarter worth approximately $27,000. SOA Wealth Advisors LLC. grew its holdings in Fastenal by 71.6% during the 3rd quarter. SOA Wealth Advisors LLC. now owns 611 shares of the company’s stock valued at $30,000 after buying an additional 255 shares during the last quarter. REAP Financial Group LLC acquired a new stake in Fastenal during the 3rd quarter valued at $30,000. First Horizon Corp purchased a new position in Fastenal during the third quarter worth $33,000. Finally, Financial Perspectives Inc raised its holdings in shares of Fastenal by 414.0% in the third quarter. Financial Perspectives Inc now owns 699 shares of the company’s stock worth $34,000 after acquiring an additional 563 shares during the last quarter. 81.38% of the stock is currently owned by institutional investors and hedge funds.

Fastenal Stock Performance

Fastenal stock opened at $44.89 on Wednesday. The stock has a fifty day moving average price of $45.37 and a 200 day moving average price of $43.87. Fastenal Company has a 52 week low of $35.31 and a 52 week high of $50.63. The firm has a market capitalization of $51.55 billion, a P/E ratio of 40.81, a PEG ratio of 2.83 and a beta of 0.88. The company has a current ratio of 4.85, a quick ratio of 2.41 and a debt-to-equity ratio of 0.03.

Fastenal (NASDAQ:FAST) last issued its quarterly earnings results on Tuesday, January 20th. The company reported $0.26 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.26. Fastenal had a return on equity of 32.83% and a net margin of 15.35%.The firm had revenue of $2.03 billion for the quarter, compared to analyst estimates of $2.04 billion. During the same period last year, the company earned $0.46 EPS. The firm’s quarterly revenue was up 11.1% on a year-over-year basis. Equities research analysts anticipate that Fastenal Company will post 2.15 earnings per share for the current year.

Fastenal Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, February 26th. Investors of record on Thursday, January 29th were given a $0.24 dividend. This is a boost from Fastenal’s previous quarterly dividend of $0.22. This represents a $0.96 annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend was Thursday, January 29th. Fastenal’s dividend payout ratio is 87.27%.

Analyst Ratings Changes

FAST has been the topic of several recent research reports. UBS Group restated a “neutral” rating and issued a $46.00 price objective on shares of Fastenal in a research report on Wednesday, January 21st. Jefferies Financial Group set a $52.00 target price on shares of Fastenal and gave the company a “buy” rating in a research note on Monday, December 15th. Benchmark restated a “buy” rating on shares of Fastenal in a report on Thursday, March 5th. Raymond James Financial set a $48.00 price target on shares of Fastenal in a research note on Thursday, March 5th. Finally, Sanford C. Bernstein reissued an “underperform” rating on shares of Fastenal in a research report on Wednesday, January 21st. Five investment analysts have rated the stock with a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $48.83.

Insider Activity at Fastenal

In related news, Director Scott Satterlee sold 15,964 shares of the business’s stock in a transaction that occurred on Friday, January 23rd. The shares were sold at an average price of $44.19, for a total value of $705,449.16. Following the completion of the sale, the director directly owned 50,000 shares in the company, valued at approximately $2,209,500. The trade was a 24.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Reyne K. Wisecup sold 36,920 shares of the company’s stock in a transaction that occurred on Thursday, March 5th. The stock was sold at an average price of $47.34, for a total transaction of $1,747,792.80. Following the transaction, the director directly owned 40,000 shares of the company’s stock, valued at $1,893,600. This trade represents a 48.00% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.28% of the stock is currently owned by company insiders.

Fastenal Profile

Fastenal (NASDAQ: FAST) is a wholesale distributor of industrial and construction supplies, best known for its broad assortment of fasteners such as bolts, nuts, screws and anchors. Founded in Winona, Minnesota, Fastenal has grown from a regional supplier into a national and international distributor serving a wide range of end markets, including manufacturing, construction, maintenance, repair and operations (MRO), and government customers. The company is publicly traded and operates through a network of locally staffed branches combined with national distribution capabilities.

Product offerings extend beyond fasteners to include tools, safety and personal protective equipment, power transmission components, cutting and welding supplies, janitorial and material handling items, and other industrial consumables.