Fastenal Company $FAST Shares Sold by GC Wealth Management RIA LLC

Key Points

• GC Wealth Management RIA LLC cut its stake in Fastenal by 50.4% in Q4, selling 22,996 shares and leaving 22,608 shares valued at about $907,000.
• Director Reyne K. Wisecup sold 36,920 shares at an average price of $47.34 (a 48% reduction), leaving 40,000 shares worth roughly $1.89 million.
• Fastenal reported quarterly EPS of $0.30 (in line with estimates) on $2.20 billion in revenue, up 12.4% year-over-year, and declared a quarterly dividend of $0.24 per share (annualized yield ~2.1%).

GC Wealth Management RIA LLC lessened its holdings in Fastenal Company (NASDAQ:FAST - Free Report) by 50.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 22,608 shares of the company's stock after selling 22,996 shares during the quarter. GC Wealth Management RIA LLC's holdings in Fastenal were worth $907,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. SOA Wealth Advisors LLC. boosted its holdings in Fastenal by 71.6% in the third quarter. SOA Wealth Advisors LLC. now owns 611 shares of the company's stock worth $30,000 after acquiring an additional 255 shares in the last quarter. REAP Financial Group LLC acquired a new stake in Fastenal in the third quarter worth about $30,000. Field & Main Bank acquired a new stake in Fastenal in the fourth quarter worth about $30,000. First Horizon Corp acquired a new stake in Fastenal in the third quarter worth about $33,000. Finally, Financial Perspectives Inc boosted its holdings in Fastenal by 414.0% in the third quarter. Financial Perspectives Inc now owns 699 shares of the company's stock worth $34,000 after acquiring an additional 563 shares in the last quarter. Institutional investors and hedge funds own 81.38% of the company's stock.

Fastenal Trading Up 2.8%

Fastenal stock opened at $44.93 on Friday. The company has a quick ratio of 2.34, a current ratio of 4.39 and a debt-to-equity ratio of 0.03. Fastenal Company has a 52 week low of $38.97 and a 52 week high of $50.63. The company has a market capitalization of $51.58 billion, a price-to-earnings ratio of 39.41, a price-to-earnings-growth ratio of 2.79 and a beta of 0.84. The stock has a 50-day moving average price of $45.70 and a 200 day moving average price of $43.56.

Fastenal (NASDAQ:FAST - Get Free Report) last released its earnings results on Monday, April 13th. The company reported $0.30 EPS for the quarter, hitting analysts' consensus estimates of $0.30. Fastenal had a return on equity of 33.25% and a net margin of 15.39%.The firm 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 company posted $0.52 earnings per share. The company's revenue was up 12.4% compared to the same quarter last year. Sell-side analysts anticipate that Fastenal Company will post 1.23 EPS for the current year.

Fastenal Announces Dividend

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

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on FAST shares. Benchmark reissued a "buy" rating on shares of Fastenal in a report on Thursday, March 5th. Bank of America lifted their target price on Fastenal from $48.00 to $55.00 in a report on Monday, April 13th. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Fastenal in a report on Friday, March 27th. Robert W. Baird decreased their target price on Fastenal from $52.00 to $50.00 and set an "outperform" rating for the company in a report on Tuesday, April 14th. Finally, Sanford C. Bernstein reaffirmed an "underperform" rating and set a $42.00 target price on shares of Fastenal in a report on Tuesday, April 14th. Five equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $49.77.

Insiders Place Their Bets

In related news, Director Reyne K. Wisecup sold 36,920 shares of Fastenal stock in a transaction that occurred 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 completion of the transaction, the director directly owned 40,000 shares in the company, valued at approximately $1,893,600. This trade represents a 48.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.28% of the company's stock.

Fastenal 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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