Marks Group Wealth Management Inc Trims Stock Holdings in Fastenal (NASDAQ:FAST)

Marks Group Wealth Management Inc lowered its stake in shares of Fastenal (NASDAQ:FAST) by 4.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 53,529 shares of the company’s stock after selling 2,727 shares during the period. Marks Group Wealth Management Inc’s holdings in Fastenal were worth $3,467,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in FAST. Larson Financial Group LLC boosted its position in shares of Fastenal by 2,899.6% in the fourth quarter. Larson Financial Group LLC now owns 8,069 shares of the company’s stock valued at $523,000 after acquiring an additional 7,800 shares during the period. Illinois Municipal Retirement Fund boosted its holdings in Fastenal by 22.4% in the 4th quarter. Illinois Municipal Retirement Fund now owns 204,835 shares of the company’s stock valued at $13,267,000 after purchasing an additional 37,503 shares during the period. RWA Wealth Partners LLC purchased a new position in shares of Fastenal during the 4th quarter valued at $206,000. Sage Mountain Advisors LLC bought a new position in shares of Fastenal in the fourth quarter worth $212,000. Finally, Capital Investment Advisory Services LLC purchased a new stake in shares of Fastenal in the fourth quarter worth $233,000. 81.38% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. HSBC boosted their target price on Fastenal from $59.00 to $64.00 and gave the stock a “hold” rating in a research report on Monday, April 15th. Robert W. Baird decreased their price objective on shares of Fastenal from $77.00 to $71.00 and set a “neutral” rating on the stock in a research report on Friday, April 12th. Loop Capital dropped their target price on shares of Fastenal from $71.00 to $66.00 and set a “hold” rating for the company in a research report on Monday, April 15th. Finally, Stifel Nicolaus increased their price target on shares of Fastenal from $75.00 to $85.00 and gave the stock a “buy” rating in a report on Monday, March 18th. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, Fastenal has an average rating of “Hold” and an average price target of $67.67.

Fastenal Price Performance

Shares of Fastenal stock opened at $67.51 on Wednesday. The business’s 50-day moving average price is $73.54 and its 200-day moving average price is $66.63. The firm has a market capitalization of $38.65 billion, a PE ratio of 33.42, a price-to-earnings-growth ratio of 3.53 and a beta of 1.05. Fastenal has a 12 month low of $52.28 and a 12 month high of $79.04. The company has a current ratio of 4.83, a quick ratio of 2.49 and a debt-to-equity ratio of 0.06.

Fastenal (NASDAQ:FAST) last issued its quarterly earnings results on Thursday, April 11th. The company reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.01). Fastenal had a net margin of 15.68% and a return on equity of 33.98%. The business had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.91 billion. During the same quarter in the previous year, the business earned $0.52 earnings per share. The firm’s revenue was up 1.9% on a year-over-year basis. Sell-side analysts forecast that Fastenal will post 2.12 EPS for the current fiscal year.

Fastenal Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 23rd. Shareholders of record on Thursday, April 25th will be given a dividend of $0.39 per share. The ex-dividend date of this dividend is Wednesday, April 24th. This represents a $1.56 annualized dividend and a yield of 2.31%. Fastenal’s payout ratio is 77.23%.

Insider Buying and Selling at Fastenal

In related news, insider William Joseph Drazkowski sold 11,968 shares of the firm’s stock in a transaction that occurred on Thursday, January 25th. The stock was sold at an average price of $69.10, for a total transaction of $826,988.80. Following the transaction, the insider now directly owns 5,997 shares in the company, valued at approximately $414,392.70. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other Fastenal news, EVP Anthony Paul Broersma sold 5,586 shares of the business’s stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $69.34, for a total value of $387,333.24. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider William Joseph Drazkowski sold 11,968 shares of the stock in a transaction dated Thursday, January 25th. The stock was sold at an average price of $69.10, for a total transaction of $826,988.80. Following the sale, the insider now owns 5,997 shares of the company’s stock, valued at $414,392.70. The disclosure for this sale can be found here. Insiders sold a total of 48,050 shares of company stock worth $3,411,049 over the last three months. Company insiders own 0.41% of the company’s stock.

Fastenal Profile

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.