Toth Financial Advisory Corp Sells 816 Shares of Fastenal (NASDAQ:FAST)

by · The Markets Daily

Toth Financial Advisory Corp reduced its stake in shares of Fastenal (NASDAQ:FAST – Free Report) by 1.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 72,256 shares of the company’s stock after selling 816 shares during the quarter. Toth Financial Advisory Corp’s holdings in Fastenal were worth $5,161,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. MCF Advisors LLC increased its position in shares of Fastenal by 2,172.2% during the 1st quarter. MCF Advisors LLC now owns 409 shares of the company’s stock valued at $32,000 after purchasing an additional 391 shares during the last quarter. Central Valley Advisors LLC purchased a new position in shares of Fastenal during the 2nd quarter worth about $28,000. Moisand Fitzgerald Tamayo LLC grew its holdings in Fastenal by 1,019.0% during the 3rd quarter. Moisand Fitzgerald Tamayo LLC now owns 470 shares of the company’s stock valued at $34,000 after purchasing an additional 428 shares during the last quarter. LRI Investments LLC purchased a new stake in Fastenal in the 1st quarter worth about $39,000. Finally, Triad Wealth Partners LLC purchased a new stake in Fastenal in the 2nd quarter worth about $32,000. 81.38% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

FAST has been the subject of several recent analyst reports. Stephens boosted their target price on Fastenal from $56.00 to $75.00 and gave the company an “equal weight” rating in a research report on Monday, October 14th. Bank of America started coverage on Fastenal in a report on Monday, October 7th. They set a “buy” rating and a $85.00 price objective for the company. Robert W. Baird increased their target price on Fastenal from $67.00 to $80.00 and gave the stock a “neutral” rating in a research note on Monday, October 14th. Morgan Stanley boosted their target price on shares of Fastenal from $72.00 to $76.00 and gave the company an “equal weight” rating in a research note on Monday, October 14th. Finally, JPMorgan Chase & Co. upped their price target on shares of Fastenal from $57.00 to $63.00 and gave the stock a “neutral” rating in a report on Thursday, October 10th. Seven investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, Fastenal currently has an average rating of “Hold” and a consensus target price of $73.33.

View Our Latest Stock Analysis on FAST

Insiders Place Their Bets

In other news, CEO Daniel L. Florness sold 45,744 shares of Fastenal 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 transaction, the chief executive officer now owns 286,018 shares of the company’s stock, valued at $19,489,266.52. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Anthony Paul Broersma sold 680 shares of the business’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $77.86, for a total transaction of $52,944.80. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Daniel L. Florness sold 45,744 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were 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 in the company, valued at approximately $19,489,266.52. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 179,373 shares of company stock worth $13,029,308. 0.41% of the stock is owned by corporate insiders.

Fastenal Stock Down 0.4 %

Shares of FAST traded down $0.33 during mid-day trading on Monday, hitting $77.57. The company’s stock had a trading volume of 888,326 shares, compared to its average volume of 3,353,619. The company has a current ratio of 4.39, a quick ratio of 2.29 and a debt-to-equity ratio of 0.04. The company’s 50-day moving average is $69.92 and its 200-day moving average is $67.91. Fastenal has a 52-week low of $56.41 and a 52-week high of $79.04. The firm has a market capitalization of $44.41 billion, a price-to-earnings ratio of 38.76, a PEG ratio of 4.13 and a beta of 1.01.

Fastenal (NASDAQ:FAST – Get Free Report) last posted its earnings results on Friday, October 11th. The company reported $0.52 earnings per share for the quarter, topping 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 company had revenue of $1.91 billion during the quarter, compared to analyst estimates of $1.90 billion. During the same quarter in the prior year, the business earned $0.52 earnings per share. Fastenal’s revenue was up 3.5% on a year-over-year basis. On average, equities research analysts forecast that Fastenal will post 2.04 EPS for the current fiscal year.

Fastenal Dividend Announcement

The business also recently announced 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 annualized dividend and a yield of 2.01%. Fastenal’s dividend payout ratio (DPR) is presently 77.61%.

Fastenal Profile

(Free Report)

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.

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