Apollon Wealth Management LLC Has $992,000 Position in Fastenal (NASDAQ:FAST)

Apollon Wealth Management LLC decreased its stake in shares of Fastenal (NASDAQ:FAST - Free Report) by 55.0% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 13,889 shares of the company's stock after selling 16,993 shares during the period. Apollon Wealth Management LLC's holdings in Fastenal were worth $992,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of FAST. Aaron Wealth Advisors LLC bought a new position in Fastenal in the third quarter worth about $310,000. Cetera Investment Advisers increased its stake in shares of Fastenal by 499.7% in the first quarter. Cetera Investment Advisers now owns 132,046 shares of the company's stock valued at $10,186,000 after purchasing an additional 110,027 shares during the period. M&G Plc acquired a new stake in shares of Fastenal in the first quarter valued at approximately $11,212,000. Wealth Enhancement Advisory Services LLC increased its stake in shares of Fastenal by 5.7% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 210,998 shares of the company's stock valued at $13,259,000 after purchasing an additional 11,436 shares during the period. Finally, Peak Financial Advisors LLC acquired a new stake in shares of Fastenal in the second quarter valued at approximately $2,643,000. Institutional investors own 81.38% of the company's stock.

Insider Buying and Selling

In related news, VP John Lewis Soderberg sold 488 shares of the firm's stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $76.32, for a total value of $37,244.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Daniel L. Florness sold 45,744 shares of the firm's stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $68.14, for a total transaction of $3,116,996.16. Following the completion of the transaction, the chief executive officer now directly owns 286,018 shares of the company's stock, valued at $19,489,266.52. This represents a 13.79 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 254,033 shares of company stock worth $19,240,434. Corporate insiders own 0.41% of the company's stock.

Fastenal Price Performance

NASDAQ:FAST traded down $0.31 during trading hours on Friday, reaching $81.85. 2,595,550 shares of the company's stock were exchanged, compared to its average volume of 3,316,257. The company has a market capitalization of $46.89 billion, a P/E ratio of 40.72, a price-to-earnings-growth ratio of 4.90 and a beta of 0.99. Fastenal has a 12 month low of $59.47 and a 12 month high of $84.88. The company has a quick ratio of 2.29, a current ratio of 4.40 and a debt-to-equity ratio of 0.03. The business's 50-day simple moving average is $74.96 and its two-hundred day simple moving average is $69.22.

Fastenal (NASDAQ:FAST - Get Free Report) last issued its earnings results on Friday, October 11th. The company reported $0.52 earnings per share for the quarter, topping analysts' consensus estimates of $0.51 by $0.01. The firm had revenue of $1.91 billion during the quarter, compared to analysts' expectations of $1.90 billion. Fastenal had a net margin of 15.44% and a return on equity of 33.30%. The firm's revenue for the quarter was up 3.5% compared to the same quarter last year. During the same period last year, the firm posted $0.52 earnings per share. Sell-side analysts expect that Fastenal will post 2.03 EPS for the current fiscal year.

Fastenal Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Friday, October 25th will be issued a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 1.91%. The ex-dividend date of this dividend is Friday, October 25th. Fastenal's payout ratio is 77.61%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on FAST shares. Stifel Nicolaus restated a "buy" rating and issued a $86.00 price target (up previously from $80.00) on shares of Fastenal in a research note on Monday, October 14th. Stephens raised their price target on shares of Fastenal from $56.00 to $75.00 and gave the company an "equal weight" rating in a research note on Monday, October 14th. Morgan Stanley raised their price target on shares of Fastenal from $72.00 to $76.00 and gave the company an "equal weight" rating in a research note on Monday, October 14th. UBS Group started coverage on shares of Fastenal in a research note on Wednesday. They issued a "neutral" rating and a $88.00 price target on the stock. Finally, Bank of America began coverage on shares of Fastenal in a research note on Monday, October 7th. They issued a "buy" rating and a $85.00 price target on the stock. Eight investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $74.80.

Fastenal Company Profile

Fastenal Company, together with its subsidiaries, engages in the wholesale distribution of industrial and construction supplies in the United States, Canada, Mexico, North America, and internationally. It offers fasteners, and related industrial and construction supplies under the Fastenal name. The company's fastener products include threaded fasteners, bolts, nuts, screws, studs, and related washers that are used in manufactured products and construction projects, as well as in the maintenance and repair of machines.