Boyum Wealth Architects LLC Acquires 38,882 Shares of Fastenal Company $FAST

Key Points

• Boyum Wealth Architects boosted its Fastenal stake by 820.3% in Q4, acquiring 38,882 shares to hold 43,622 shares worth about $1.915 million, making FAST its 17th-largest position.
• Fastenal reported Q results of $0.30 EPS (in line) and $2.20 billion revenue (up 12.4% YoY), and announced a quarterly dividend of $0.24 (annualized $0.96, ~2.1% yield).
• Institutional ownership is high at 81.38% with major investors (Bank of America, Vanguard, Invesco) increasing stakes, while analyst consensus is a Hold with a target price of $49.77 amid mixed ratings.

Boyum Wealth Architects LLC grew its holdings in shares of Fastenal Company (NASDAQ:FAST - Free Report) by 820.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 43,622 shares of the company's stock after acquiring an additional 38,882 shares during the period. Fastenal comprises approximately 0.9% of Boyum Wealth Architects LLC's holdings, making the stock its 17th largest position. Boyum Wealth Architects LLC's holdings in Fastenal were worth $1,915,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Bank of America Corp DE grew its stake in shares of Fastenal by 106.1% in the 2nd quarter. Bank of America Corp DE now owns 15,431,393 shares of the company's stock worth $648,118,000 after buying an additional 7,943,217 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Fastenal by 1.6% during the 3rd quarter. Vanguard Group Inc. now owns 151,515,539 shares of the company's stock valued at $7,430,322,000 after buying an additional 2,346,045 shares in the last quarter. Invesco Ltd. raised its holdings in shares of Fastenal by 14.0% in the 3rd quarter. Invesco Ltd. now owns 18,215,875 shares of the company's stock valued at $893,307,000 after purchasing an additional 2,242,116 shares in the last quarter. American Century Companies Inc. raised its stake in shares of Fastenal by 90.7% during the 3rd quarter. American Century Companies Inc. now owns 3,590,292 shares of the company's stock worth $176,068,000 after acquiring an additional 1,707,396 shares in the last quarter. Finally, Raymond James Financial Inc. raised its stake in shares of Fastenal by 112.1% during the 2nd quarter. Raymond James Financial Inc. now owns 2,771,861 shares of the company's stock worth $116,418,000 after acquiring an additional 1,464,781 shares in the last quarter. 81.38% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have weighed in on FAST shares. Wolfe Research dropped their target price on shares of Fastenal from $46.00 to $45.00 and set an "underperform" rating on the stock in a research report on Tuesday. Raymond James Financial set a $48.00 target price on shares of Fastenal in a research report on Thursday, March 5th. Morgan Stanley reiterated a "positive" rating and issued a $45.00 target price on shares of Fastenal in a research report on Thursday, March 5th. Sanford C. Bernstein reiterated an "underperform" rating and issued a $42.00 target price on shares of Fastenal in a research report on Tuesday. Finally, Robert W. Baird dropped their price objective on shares of Fastenal from $52.00 to $50.00 and set an "outperform" rating for the company in a report on Tuesday. Five analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $49.77.

Fastenal Stock Up 2.4%

Shares of Fastenal stock opened at $45.78 on Friday. Fastenal Company has a 52-week low of $38.97 and a 52-week high of $50.63. The company has a 50 day moving average of $45.93 and a 200 day moving average of $43.72. The company has a quick ratio of 2.41, a current ratio of 4.39 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $52.57 billion, a P/E ratio of 40.16, a P/E/G ratio of 2.85 and a beta of 0.84.

Fastenal (NASDAQ:FAST - Get Free Report) last issued its quarterly earnings results on Monday, April 13th. The company reported $0.30 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.30. Fastenal had a net margin of 15.39% and a return on equity of 33.25%. The company had revenue of $2.20 billion during the quarter, compared to the consensus estimate of $2.19 billion. During the same quarter in the previous year, the firm earned $0.52 earnings per share. The firm's quarterly revenue was up 12.4% on a year-over-year basis. As a group, research analysts forecast that Fastenal Company will post 2.15 EPS for the current fiscal year.

Fastenal Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 26th. Stockholders of record on Tuesday, April 28th will be given a dividend of $0.24 per share. The ex-dividend date is Tuesday, April 28th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.1%. Fastenal's dividend payout ratio (DPR) is 84.21%.

Insider Buying and Selling

In other news, Director Scott Satterlee sold 15,964 shares of the firm's stock in a transaction that occurred on Friday, January 23rd. The shares were sold at an average price of $44.19, for a total transaction of $705,449.16. Following the transaction, the director directly owned 50,000 shares in the company, valued at approximately $2,209,500. This trade represents a 24.20% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Reyne K. Wisecup sold 36,920 shares of the company's stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $47.34, for a total transaction of $1,747,792.80. Following the transaction, the director owned 40,000 shares of the company's stock, valued at approximately $1,893,600. The trade was a 48.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.28% of the company's stock.

Fastenal Company Profile

Fastenal NASDAQ: FAST is a wholesale distributor of industrial and construction supplies, best known for its broad assortment of fasteners such as bolts, nuts, screws and anchors. Founded in Winona, Minnesota, Fastenal has grown from a regional supplier into a national and international distributor serving a wide range of end markets, including manufacturing, construction, maintenance, repair and operations (MRO), and government customers. The company is publicly traded and operates through a network of locally staffed branches combined with national distribution capabilities.

Product offerings extend beyond fasteners to include tools, safety and personal protective equipment, power transmission components, cutting and welding supplies, janitorial and material handling items, and other industrial consumables.

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