Carroll Financial Associates Inc. Raises Holdings in Fastenal (NASDAQ:FAST)

Carroll Financial Associates Inc. raised its position in Fastenal (NASDAQ:FAST) by 439.4% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 9,925 shares of the company’s stock after buying an additional 8,085 shares during the period. Carroll Financial Associates Inc.’s holdings in Fastenal were worth $638,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Berman Capital Advisors LLC acquired a new position in shares of Fastenal in the 4th quarter valued at $26,000. AdvisorNet Financial Inc lifted its stake in shares of Fastenal by 46.9% in the 4th quarter. AdvisorNet Financial Inc now owns 564 shares of the company’s stock valued at $29,000 after purchasing an additional 180 shares during the period. Avestar Capital LLC lifted its stake in shares of Fastenal by 3,163.2% in the 4th quarter. Avestar Capital LLC now owns 620 shares of the company’s stock valued at $30,000 after purchasing an additional 601 shares during the period. Patriot Financial Group Insurance Agency LLC acquired a new position in shares of Fastenal in the 4th quarter valued at $39,000. Finally, Bremer Trust National Association acquired a new position in shares of Fastenal in the 4th quarter valued at $39,000. Hedge funds and other institutional investors own 86.18% of the company’s stock.

FAST has been the topic of a number of analyst reports. Raymond James set a $78.00 price target on Fastenal and gave the company a “buy” rating in a research note on Friday, April 12th. Zacks Investment Research raised Fastenal from a “hold” rating to a “buy” rating and set a $66.00 price target on the stock in a research note on Wednesday, January 23rd. ValuEngine raised Fastenal from a “hold” rating to a “buy” rating in a research note on Thursday, January 17th. BidaskClub downgraded Fastenal from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, February 20th. Finally, Morgan Stanley raised their price objective on Fastenal from $55.00 to $63.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 16th. Twelve equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Fastenal presently has a consensus rating of “Hold” and an average price target of $61.70.

Fastenal stock traded down $0.37 during mid-day trading on Friday, hitting $65.64. 2,373,721 shares of the company’s stock were exchanged, compared to its average volume of 2,362,900. The company has a market capitalization of $18.90 billion, a PE ratio of 24.96, a PEG ratio of 1.45 and a beta of 1.20. Fastenal has a fifty-two week low of $47.37 and a fifty-two week high of $71.88. The company has a current ratio of 4.31, a quick ratio of 1.97 and a debt-to-equity ratio of 0.20.

Shares of Fastenal are going to split on the morning of Wednesday, May 22nd. The 2-1 split was announced on Thursday, April 18th. The newly minted shares will be issued to shareholders after the closing bell on Tuesday, May 21st.

Fastenal (NASDAQ:FAST) last released its earnings results on Thursday, April 11th. The company reported $0.68 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.67 by $0.01. The firm had revenue of $1.31 billion during the quarter, compared to analysts’ expectations of $1.30 billion. Fastenal had a return on equity of 33.52% and a net margin of 15.16%. During the same quarter in the prior year, the company earned $0.61 EPS. Analysts predict that Fastenal will post 2.84 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 22nd. Shareholders of record on Wednesday, April 24th will be issued a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 2.62%. The ex-dividend date of this dividend is Tuesday, April 23rd. Fastenal’s dividend payout ratio (DPR) is presently 65.40%.

In other Fastenal news, insider John Lewis Soderberg sold 30,000 shares of the stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $70.62, for a total transaction of $2,118,600.00. Following the completion of the transaction, the insider now owns 30,000 shares in the company, valued at approximately $2,118,600. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Sheryl Ann Lisowski sold 10,000 shares of the stock in a transaction dated Wednesday, April 24th. The stock was sold at an average price of $71.38, for a total value of $713,800.00. Following the transaction, the chief accounting officer now owns 10,300 shares of the company’s stock, valued at approximately $735,214. The disclosure for this sale can be found here. In the last quarter, insiders have sold 233,887 shares of company stock valued at $15,902,479. Corporate insiders own 0.56% of the company’s stock.

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About Fastenal

Fastenal Company, together with its subsidiaries, engages in the wholesale distribution of industrial and construction supplies in the United States, Canada, and internationally. It offers fasteners, and other industrial and construction supplies under the Fastenal name. The company's fastener products include threaded fasteners, such as bolts, nuts, screws, studs, and related washers, which are used in manufactured products and construction projects, as well as in the maintenance and repair of machines.

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Institutional Ownership by Quarter for Fastenal (NASDAQ:FAST)

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