Ritholtz Wealth Management Grows Stock Holdings in Fastenal Company $FAST

Ritholtz Wealth Management lifted its position in Fastenal Company (NASDAQ:FAST) by 212.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 150,568 shares of the company’s stock after purchasing an additional 102,404 shares during the quarter. Ritholtz Wealth Management’s holdings in Fastenal were worth $7,384,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Riverview Trust Co boosted its stake in Fastenal by 100.0% in the second quarter. Riverview Trust Co now owns 584 shares of the company’s stock worth $25,000 after buying an additional 292 shares in the last quarter. Hilltop National Bank bought a new stake in shares of Fastenal in the 2nd quarter worth approximately $27,000. Private Wealth Management Group LLC boosted its stake in shares of Fastenal by 111.9% in the 2nd quarter. Private Wealth Management Group LLC now owns 642 shares of the company’s stock valued at $27,000 after purchasing an additional 339 shares in the last quarter. Twin Peaks Wealth Advisors LLC bought a new position in shares of Fastenal during the 2nd quarter valued at $27,000. Finally, Armstrong Advisory Group Inc. raised its position in Fastenal by 100.0% in the 2nd quarter. Armstrong Advisory Group Inc. now owns 696 shares of the company’s stock worth $29,000 after purchasing an additional 348 shares during the period. 81.38% of the stock is currently owned by institutional investors.

Fastenal Stock Performance

NASDAQ:FAST opened at $43.53 on Friday. The company has a quick ratio of 2.19, a current ratio of 4.26 and a debt-to-equity ratio of 0.03. The firm’s fifty day simple moving average is $41.11 and its 200 day simple moving average is $44.39. The stock has a market cap of $49.97 billion, a P/E ratio of 40.68, a price-to-earnings-growth ratio of 3.04 and a beta of 0.90. Fastenal Company has a twelve month low of $35.31 and a twelve month high of $50.63.

Fastenal (NASDAQ:FAST) last issued its quarterly earnings data on Tuesday, October 14th. The company reported $0.29 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.01). Fastenal had a return on equity of 32.69% and a net margin of 15.34%.The company had revenue of $2.13 billion during the quarter, compared to the consensus estimate of $2.13 billion. The firm’s revenue for the quarter was up 11.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.26 earnings per share. As a group, research analysts predict that Fastenal Company will post 2.15 EPS for the current year.

Wall Street Analyst Weigh In

FAST has been the topic of a number of recent research reports. Robert W. Baird reduced their price objective on Fastenal from $53.00 to $49.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 14th. Barclays reduced their price target on Fastenal from $45.00 to $44.00 and set an “equal weight” rating on the stock in a research report on Thursday, November 13th. Sanford C. Bernstein reissued an “underperform” rating on shares of Fastenal in a research note on Monday, December 29th. Wolfe Research upgraded shares of Fastenal from an “underperform” rating to a “peer perform” rating and set a $43.00 target price on the stock in a report on Thursday, November 13th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Fastenal in a report on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Fastenal currently has an average rating of “Hold” and a consensus target price of $48.73.

Insider Activity

In other news, Director Hsenghung Sam Hsu bought 1,000 shares of Fastenal stock in a transaction on Thursday, November 13th. The shares were purchased at an average price of $49.58 per share, for a total transaction of $49,580.00. Following the acquisition, the director owned 10,000 shares of the company’s stock, valued at approximately $495,800. The trade was a 11.11% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Sarah N. Nielsen bought 1,000 shares of the firm’s stock in a transaction dated Wednesday, November 19th. The stock was purchased at an average cost of $39.60 per share, with a total value of $39,600.00. Following the transaction, the director directly owned 5,000 shares in the company, valued at approximately $198,000. This represents a 25.00% increase in their position. The SEC filing for this purchase provides additional information. 0.37% of the stock is owned by insiders.

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.