Strategic Blueprint LLC Makes New Investment in Fastenal Company $FAST

Strategic Blueprint LLC bought a new stake in Fastenal Company (NASDAQ:FAST) in the third quarter, HoldingsChannel reports. The fund bought 13,609 shares of the company’s stock, valued at approximately $667,000.

Other hedge funds also recently modified their holdings of the company. Riverview Trust Co grew its position in shares of Fastenal by 100.0% in the 2nd quarter. Riverview Trust Co now owns 584 shares of the company’s stock valued at $25,000 after purchasing an additional 292 shares during the period. 1248 Management LLC bought a new position in Fastenal in the first quarter valued at approximately $45,000. SOA Wealth Advisors LLC. boosted its holdings in shares of Fastenal by 71.6% in the third 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 period. Private Wealth Management Group LLC increased its position in shares of Fastenal by 111.9% during the second quarter. Private Wealth Management Group LLC now owns 642 shares of the company’s stock worth $27,000 after acquiring an additional 339 shares in the last quarter. Finally, Twin Peaks Wealth Advisors LLC acquired a new stake in shares of Fastenal during the second quarter worth $27,000. Institutional investors and hedge funds own 81.38% of the company’s stock.

Fastenal Stock Up 0.4%

NASDAQ:FAST opened at $41.98 on Friday. Fastenal Company has a twelve month low of $35.31 and a twelve month high of $50.63. The firm has a market capitalization of $48.19 billion, a price-to-earnings ratio of 39.23, a price-to-earnings-growth ratio of 3.00 and a beta of 0.90. The company has a quick ratio of 2.19, a current ratio of 4.26 and a debt-to-equity ratio of 0.03. The stock’s 50 day moving average price is $41.01 and its two-hundred day moving average price is $44.36.

Fastenal (NASDAQ:FAST) last released its earnings results on Tuesday, October 14th. The company reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.01). The firm had revenue of $2.13 billion during the quarter, compared to the consensus estimate of $2.13 billion. Fastenal had a net margin of 15.34% and a return on equity of 32.69%. Fastenal’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.26 earnings per share. Equities research analysts expect that Fastenal Company will post 2.15 earnings per share for the current fiscal year.

Insider Transactions at Fastenal

In other news, Director Hsenghung Sam Hsu bought 1,000 shares of the business’s stock in a transaction that occurred on Thursday, November 13th. The stock was acquired at an average cost of $49.58 per share, for a total transaction of $49,580.00. Following the purchase, the director owned 10,000 shares of the company’s stock, valued at approximately $495,800. This trade represents a 11.11% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Sarah N. Nielsen purchased 1,000 shares of Fastenal stock in a transaction that occurred on Wednesday, November 19th. The shares were acquired at an average price of $39.60 per share, with a total value of $39,600.00. Following the acquisition, the director directly owned 5,000 shares of the company’s stock, valued at $198,000. This trade represents a 25.00% increase in their position. The SEC filing for this purchase provides additional information. In the last three months, insiders bought 3,000 shares of company stock valued at $131,630. Insiders own 0.37% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on FAST. Jefferies Financial Group set a $52.00 target price on shares of Fastenal and gave the stock a “buy” rating in a research note on Monday, December 15th. Sanford C. Bernstein restated an “underperform” rating on shares of Fastenal in a report on Monday, December 29th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Fastenal in a research report on Monday, December 29th. Robert W. Baird decreased their price objective on Fastenal from $53.00 to $49.00 and set an “outperform” rating for the company in a report on Tuesday, October 14th. Finally, UBS Group upgraded Fastenal from a “hold” rating to a “buy” rating and boosted their target price for the company from $45.00 to $52.00 in a research note on Monday, December 15th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $48.73.

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.