Fastenal Company $FAST Holdings Trimmed by Armstrong Henry H Associates Inc.

Key Points

• Armstrong Henry H Associates trimmed its stake in Fastenal by 10% in Q4, selling 23,163 shares and retaining 209,625 shares valued at $8.41M (about 0.8% of the firm's portfolio and its 13th largest holding).
• Two Fastenal directors recently sold large positions—Reyne K. Wisecup sold 36,920 shares (~$1.75M at $47.34) and Scott Satterlee sold 15,964 shares (~$705k at $44.19)—bringing insider ownership to about 0.28%.
• Analysts hold a consensus "Hold" rating with a $48.83 target; Fastenal raised its quarterly dividend to $0.24 (2.2% yield) and reported revenue up 11.1% while EPS met estimates for the latest quarter.

Armstrong Henry H Associates Inc. trimmed its stake in Fastenal Company (NASDAQ:FAST - Free Report) by 10.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 209,625 shares of the company's stock after selling 23,163 shares during the period. Fastenal accounts for about 0.8% of Armstrong Henry H Associates Inc.'s investment portfolio, making the stock its 13th largest position. Armstrong Henry H Associates Inc.'s holdings in Fastenal were worth $8,412,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the stock. Integrated Wealth Concepts LLC grew its position in Fastenal by 2.4% in the first quarter. Integrated Wealth Concepts LLC now owns 6,276 shares of the company's stock valued at $487,000 after purchasing an additional 147 shares in the last quarter. Sowell Financial Services LLC grew its holdings in Fastenal by 4.7% during the 3rd quarter. Sowell Financial Services LLC now owns 5,308 shares of the company's stock worth $260,000 after acquiring an additional 238 shares during the last quarter. L2 Asset Management LLC grew its stake in shares of Fastenal by 4.8% in the third quarter. L2 Asset Management LLC now owns 5,389 shares of the company's stock worth $264,000 after purchasing an additional 248 shares during the last quarter. Rowlandmiller & PARTNERS.ADV increased its holdings in Fastenal by 1.7% in the third quarter. Rowlandmiller & PARTNERS.ADV now owns 14,704 shares of the company's stock valued at $721,000 after purchasing an additional 250 shares during the period. Finally, SOA Wealth Advisors LLC. raised its position in Fastenal by 71.6% during the 3rd quarter. SOA Wealth Advisors LLC. now owns 611 shares of the company's stock worth $30,000 after purchasing an additional 255 shares during the last quarter. 81.38% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Fastenal news, Director Reyne K. Wisecup sold 36,920 shares of Fastenal stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $47.34, for a total transaction of $1,747,792.80. Following the transaction, the director directly owned 40,000 shares of the company's stock, valued at $1,893,600. The trade was a 48.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Scott Satterlee sold 15,964 shares of the business's stock in a transaction on Friday, January 23rd. The stock was sold at an average price of $44.19, for a total transaction of $705,449.16. Following the completion of the transaction, the director owned 50,000 shares of the company's stock, valued at approximately $2,209,500. This trade represents a 24.20% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.28% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms recently commented on FAST. Robert W. Baird raised their target price on Fastenal from $51.00 to $52.00 and gave the stock an "outperform" rating in a research note on Friday, March 6th. Barclays raised their price objective on shares of Fastenal from $43.00 to $44.00 and gave the stock an "equal weight" rating in a research report on Friday, March 6th. Raymond James Financial set a $48.00 price target on shares of Fastenal in a report on Thursday, March 5th. Jefferies Financial Group set a $52.00 target price on Fastenal and gave the stock a "buy" rating in a research note on Monday, December 15th. Finally, Wolfe Research lifted their price target on Fastenal from $42.00 to $43.00 and gave the stock an "underperform" rating in a report on Friday, February 27th. Five equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, Fastenal presently has a consensus rating of "Hold" and a consensus target price of $48.83.

Fastenal Price Performance

FAST stock opened at $43.76 on Friday. The firm has a market capitalization of $50.25 billion, a price-to-earnings ratio of 39.78, a PEG ratio of 2.84 and a beta of 0.88. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.41 and a current ratio of 4.85. Fastenal Company has a 52-week low of $35.31 and a 52-week high of $50.63. The firm has a 50 day moving average price of $45.27 and a 200-day moving average price of $44.01.

Fastenal (NASDAQ:FAST - Get Free Report) last announced its quarterly earnings data on Tuesday, January 20th. The company reported $0.26 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.26. The firm had revenue of $2.03 billion during the quarter, compared to analysts' expectations of $2.04 billion. Fastenal had a net margin of 15.35% and a return on equity of 32.83%. The company's revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.46 earnings per share. Equities research analysts forecast that Fastenal Company will post 2.15 EPS for the current fiscal year.

Fastenal Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, February 26th. Investors of record on Thursday, January 29th were given a dividend of $0.24 per share. This is a boost from Fastenal's previous quarterly dividend of $0.22. The ex-dividend date was Thursday, January 29th. This represents a $0.96 annualized dividend and a dividend yield of 2.2%. Fastenal's payout ratio is currently 87.27%.

About Fastenal

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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