3,761 Shares in Fastenal (NASDAQ:FAST) Purchased by Sagespring Wealth Partners LLC

Sagespring Wealth Partners LLC bought a new stake in shares of Fastenal (NASDAQ:FAST - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 3,761 shares of the company's stock, valued at approximately $270,000.

• Don’t Fear, New Highs for Fastenal Will Soon Be Here

A number of other large investors have also recently bought and sold shares of FAST. Townsquare Capital LLC increased its holdings in shares of Fastenal by 18.7% during the fourth quarter. Townsquare Capital LLC now owns 55,278 shares of the company's stock worth $3,975,000 after buying an additional 8,704 shares in the last quarter. Rockefeller Capital Management L.P. lifted its stake in Fastenal by 4.8% in the fourth quarter. Rockefeller Capital Management L.P. now owns 88,159 shares of the company's stock valued at $6,342,000 after buying an additional 4,012 shares during the period. Sterling Capital Management LLC grew its holdings in Fastenal by 7.7% in the fourth quarter. Sterling Capital Management LLC now owns 13,157 shares of the company's stock worth $946,000 after purchasing an additional 946 shares during the period. Treasurer of the State of North Carolina increased its position in Fastenal by 5.1% in the 4th quarter. Treasurer of the State of North Carolina now owns 270,482 shares of the company's stock valued at $19,450,000 after buying an additional 13,150 shares in the last quarter. Finally, Neuberger Berman Group LLC raised its position in shares of Fastenal by 0.7% during the fourth quarter. Neuberger Berman Group LLC now owns 21,857 shares of the company's stock worth $1,572,000 after purchasing an additional 159 shares during the period. 81.38% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on FAST. Wolfe Research upgraded Fastenal from an "underperform" rating to a "peer perform" rating in a research note on Thursday, April 3rd. Stifel Nicolaus lowered their price objective on shares of Fastenal from $86.00 to $82.00 and set a "hold" rating on the stock in a research report on Tuesday, January 21st. Robert W. Baird increased their price target on Fastenal from $80.00 to $86.00 and gave the stock a "neutral" rating in a research note on Monday. Stephens raised their price objective on shares of Fastenal from $75.00 to $80.00 and gave the stock an "equal weight" rating in a report on Tuesday. Finally, William Blair raised Fastenal from a "market perform" rating to an "outperform" rating in a report on Monday, March 10th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $79.10.

• Fastenal : Growth Trends, Challenges & Key Investment Insights

Check Out Our Latest Stock Analysis on FAST

Fastenal Stock Performance

FAST opened at $80.45 on Thursday. The firm has a market cap of $46.13 billion, a P/E ratio of 40.03, a PEG ratio of 3.58 and a beta of 1.05. Fastenal has a 1-year low of $61.36 and a 1-year high of $84.88. The company has a 50 day simple moving average of $75.99 and a two-hundred day simple moving average of $76.50. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.67 and a quick ratio of 2.28.

• 5 Stocks With Above-Market Yields Just Raised Payments Further

Fastenal (NASDAQ:FAST - Get Free Report) last posted its earnings results on Friday, April 11th. The company reported $0.52 EPS for the quarter, hitting analysts' consensus estimates of $0.52. Fastenal had a return on equity of 32.55% and a net margin of 15.25%. The company had revenue of $1.96 billion for the quarter, compared to the consensus estimate of $1.94 billion. During the same period in the previous year, the business earned $0.52 earnings per share. The firm's revenue for the quarter was up 3.4% on a year-over-year basis. Equities analysts forecast that Fastenal will post 2.15 earnings per share for the current fiscal year.

Fastenal Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Friday, April 25th will be paid a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 2.19%. The ex-dividend date is Friday, April 25th. This is an increase from Fastenal's previous quarterly dividend of $0.43. Fastenal's payout ratio is currently 87.56%.

Insider Buying and Selling

In other Fastenal news, EVP William Joseph Drazkowski sold 15,000 shares of the stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $81.31, for a total value of $1,219,650.00. Following the completion of the sale, the executive vice president now directly owns 5,997 shares in the company, valued at approximately $487,616.07. This trade represents a 71.44 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.37% of the stock is owned by insiders.

About Fastenal

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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