Pathstone Holdings LLC Increases Stake in Fastenal (NASDAQ:FAST)

Pathstone Holdings LLC grew its position in Fastenal (NASDAQ:FAST) by 11.1% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 110,131 shares of the company’s stock after buying an additional 10,997 shares during the period. Pathstone Holdings LLC’s holdings in Fastenal were worth $7,866,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Verdence Capital Advisors LLC grew its holdings in shares of Fastenal by 1.9% in the third quarter. Verdence Capital Advisors LLC now owns 7,628 shares of the company’s stock worth $545,000 after acquiring an additional 142 shares during the period. Thurston Springer Miller Herd & Titak Inc. boosted its position in shares of Fastenal by 5.8% in the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,607 shares of the company’s stock worth $186,000 after purchasing an additional 143 shares during the period. Compass Ion Advisors LLC raised its holdings in Fastenal by 1.5% during the third quarter. Compass Ion Advisors LLC now owns 9,927 shares of the company’s stock valued at $709,000 after acquiring an additional 146 shares during the period. Catalina Capital Group LLC raised its stake in Fastenal by 4.5% during the 3rd quarter. Catalina Capital Group LLC now owns 3,359 shares of the company’s stock valued at $240,000 after purchasing an additional 146 shares during the period. Finally, Sara Bay Financial lifted its holdings in shares of Fastenal by 1.3% in the second quarter. Sara Bay Financial now owns 11,872 shares of the company’s stock worth $746,000 after buying an additional 155 shares in the last quarter. 81.38% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on FAST shares. Morgan Stanley increased their price target on Fastenal from $72.00 to $76.00 and gave the company an “equal weight” rating in a research note on Monday, October 14th. JPMorgan Chase & Co. raised their price target on shares of Fastenal from $57.00 to $63.00 and gave the stock a “neutral” rating in a research note on Thursday, October 10th. Bank of America assumed coverage on Fastenal in a report on Monday, October 7th. They issued a “buy” rating and a $85.00 target price for the company. UBS Group assumed coverage on shares of Fastenal in a research note on Wednesday, November 13th. They issued a “neutral” rating and a $88.00 price objective for the company. Finally, Robert W. Baird upped their price target on Fastenal from $67.00 to $80.00 and gave the stock a “neutral” rating in a research report on Monday, October 14th. Eight equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $74.80.

Insider Buying and Selling

In other news, Director Daniel L. Johnson sold 8,474 shares of the business’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $83.36, for a total value of $706,392.64. Following the completion of the sale, the director now directly owns 10,595 shares in the company, valued at $883,199.20. The trade was a 44.44 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP John Lewis Soderberg sold 488 shares of the stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $76.32, for a total value of $37,244.16. The disclosure for this sale can be found here. In the last 90 days, insiders sold 208,289 shares of company stock valued at $16,123,438. 0.41% of the stock is owned by company insiders.

Fastenal Stock Up 0.8 %

NASDAQ:FAST opened at $82.44 on Friday. The firm has a market capitalization of $47.23 billion, a P/E ratio of 41.01, a PEG ratio of 4.78 and a beta of 0.99. The company’s fifty day moving average price is $75.99 and its 200-day moving average price is $69.60. Fastenal has a 1-year low of $59.47 and a 1-year high of $84.88. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.40 and a quick ratio of 2.29.

Fastenal (NASDAQ:FAST) last announced its quarterly earnings results on Friday, October 11th. The company reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.01. Fastenal had a return on equity of 33.30% and a net margin of 15.44%. The company had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.90 billion. During the same period in the previous year, the company posted $0.52 earnings per share. Fastenal’s revenue for the quarter was up 3.5% on a year-over-year basis. As a group, equities research analysts anticipate that Fastenal will post 2.03 EPS for the current year.

Fastenal Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Investors 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 dividend yield of 1.89%. Fastenal’s dividend payout ratio is presently 77.61%.

Fastenal Company 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.