Providence Wealth Advisors LLC Has $341,000 Stake in Fastenal (NASDAQ:FAST)

Providence Wealth Advisors LLC raised its stake in Fastenal (NASDAQ:FAST) by 5.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,250 shares of the company’s stock after buying an additional 250 shares during the quarter. Providence Wealth Advisors LLC’s holdings in Fastenal were worth $341,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of FAST. Berman Capital Advisors LLC acquired a new position in shares of Fastenal during the 4th quarter worth $26,000. AdvisorNet Financial Inc raised its stake in shares of Fastenal by 46.9% during the 4th quarter. AdvisorNet Financial Inc now owns 564 shares of the company’s stock worth $29,000 after buying an additional 180 shares during the last quarter. Avestar Capital LLC raised its stake in shares of Fastenal by 3,163.2% during the 4th quarter. Avestar Capital LLC now owns 620 shares of the company’s stock worth $30,000 after buying an additional 601 shares during the last quarter. Patriot Financial Group Insurance Agency LLC purchased a new stake in Fastenal during the 4th quarter worth about $39,000. Finally, Bremer Trust National Association purchased a new stake in Fastenal during the 4th quarter worth about $39,000. 86.18% of the stock is currently owned by institutional investors and hedge funds.

In other news, EVP John Lewis Soderberg sold 7,500 shares of the company’s stock in a transaction on Friday, February 15th. The stock was sold at an average price of $63.00, for a total transaction of $472,500.00. Following the completion of the sale, the executive vice president now directly owns 7,500 shares of the company’s stock, valued at $472,500. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Terry Modock Owen sold 1,875 shares of the company’s stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $70.62, for a total value of $132,412.50. Following the sale, the insider now directly owns 5,375 shares of the company’s stock, valued at $379,582.50. The disclosure for this sale can be found here. In the last 90 days, insiders sold 233,887 shares of company stock valued at $15,902,479. Insiders own 0.56% of the company’s stock.

Several analysts have commented on FAST shares. Raymond James set a $78.00 price target on Fastenal and gave the company a “buy” rating in a report on Friday, April 12th. Zacks Investment Research raised Fastenal from a “hold” rating to a “buy” rating and set a $66.00 price objective 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 report on Thursday, January 17th. BidaskClub lowered Fastenal from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, February 20th. Finally, Morgan Stanley upped their target price on Fastenal from $55.00 to $63.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 16th. Twelve investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Fastenal currently has a consensus rating of “Hold” and a consensus target price of $61.70.

FAST traded down $0.37 during trading on Friday, reaching $65.64. 2,373,721 shares of the company were exchanged, compared to its average volume of 2,362,900. The company has a market cap of $18.90 billion, a P/E ratio of 24.96, a PEG ratio of 1.45 and a beta of 1.20. The company has a debt-to-equity ratio of 0.20, a current ratio of 4.31 and a quick ratio of 1.97. Fastenal has a 52 week low of $47.37 and a 52 week high of $71.88.

Fastenal’s stock is going to split on Wednesday, May 22nd. The 2-1 split was announced on Thursday, April 18th. The newly created shares will be issued to shareholders after the market closes on Tuesday, May 21st.

Fastenal (NASDAQ:FAST) last announced its quarterly earnings data on Thursday, April 11th. The company reported $0.68 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.67 by $0.01. The business had revenue of $1.31 billion during the quarter, compared to analyst estimates 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 firm posted $0.61 earnings per share. As a group, research analysts anticipate that Fastenal will post 2.84 earnings per share for the current year.

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

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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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