Hantz Financial Services Inc. Has $4.45 Million Stock Holdings in Fastenal Company $FAST

Key Points

• Hantz Financial Services Inc. reduced its Fastenal stake by 26.6% in the fourth quarter, selling 40,182 shares and ending with 110,884 shares valued at about $4.45 million.
• Fastenal’s latest quarterly results matched expectations, with EPS of $0.30 and revenue of $2.20 billion, up 12.4% year over year. Analysts currently expect the company to earn $1.23 per share for the full year.
• Wall Street sentiment is mixed: the stock has a consensus Hold rating and an average target price of $49.77. Fastenal also declared a quarterly dividend of $0.24 per share, yielding about 2.2%.

Hantz Financial Services Inc. cut its holdings in shares of Fastenal Company (NASDAQ:FAST - Free Report) by 26.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 110,884 shares of the company's stock after selling 40,182 shares during the period. Hantz Financial Services Inc.'s holdings in Fastenal were worth $4,450,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in Fastenal by 1.6% during the 3rd quarter. Vanguard Group Inc. now owns 151,515,539 shares of the company's stock worth $7,430,322,000 after buying an additional 2,346,045 shares during the period. Invesco Ltd. boosted its position in Fastenal by 14.0% during the 3rd quarter. Invesco Ltd. now owns 18,215,875 shares of the company's stock worth $893,307,000 after buying an additional 2,242,116 shares during the period. Bank of America Corp DE boosted its position in Fastenal by 1.1% during the 3rd quarter. Bank of America Corp DE now owns 15,604,974 shares of the company's stock worth $765,268,000 after buying an additional 173,581 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Fastenal by 0.3% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,276,145 shares of the company's stock worth $405,860,000 after buying an additional 26,702 shares during the period. Finally, Franklin Resources Inc. boosted its position in Fastenal by 1.2% during the 3rd quarter. Franklin Resources Inc. now owns 7,387,472 shares of the company's stock worth $362,282,000 after buying an additional 90,095 shares during the period. 81.38% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently commented on FAST. Morgan Stanley reiterated a "positive" rating and set a $45.00 target price on shares of Fastenal in a research report on Thursday, March 5th. Wolfe Research cut 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, April 14th. Sanford C. Bernstein reiterated an "underperform" rating and set a $42.00 target price on shares of Fastenal in a research report on Tuesday, April 14th. JPMorgan Chase & Co. raised their price target on shares of Fastenal from $46.00 to $47.00 and gave the stock a "neutral" rating in a report on Thursday, April 9th. Finally, Robert W. Baird lowered their price target on shares of Fastenal from $52.00 to $50.00 and set an "outperform" rating for the company in a report on Tuesday, April 14th. Five research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $49.77.

Fastenal Price Performance

Fastenal stock opened at $43.94 on Tuesday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.34 and a current ratio of 4.39. Fastenal Company has a 52-week low of $38.97 and a 52-week high of $50.63. The firm has a 50 day moving average price of $45.04 and a two-hundred day moving average price of $43.75. The firm has a market cap of $50.44 billion, a price-to-earnings ratio of 38.54, a PEG ratio of 2.80 and a beta of 0.75.

Fastenal (NASDAQ:FAST - Get Free Report) last released its quarterly earnings results on Monday, April 13th. The company reported $0.30 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.30. Fastenal had a net margin of 15.39% and a return on equity of 33.25%. The firm had revenue of $2.20 billion during the quarter, compared to analyst estimates of $2.19 billion. During the same quarter last year, the business earned $0.52 EPS. The company's revenue was up 12.4% compared to the same quarter last year. Equities analysts predict that Fastenal Company will post 1.23 EPS for the current year.

Fastenal Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 26th. Stockholders of record on Tuesday, April 28th will be paid a $0.24 dividend. The ex-dividend date is Tuesday, April 28th. This represents a $0.96 annualized dividend and a dividend yield of 2.2%. Fastenal's payout ratio is currently 84.21%.

Insider Buying and Selling at Fastenal

In other news, Director Reyne K. Wisecup sold 36,920 shares of Fastenal stock in a transaction on Thursday, March 5th. The shares were sold at an average price of $47.34, for a total value of $1,747,792.80. Following the completion of the sale, the director owned 40,000 shares in the company, valued at $1,893,600. The trade was a 48.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.28% of the stock is owned by corporate insiders.

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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