Brady Martz Wealth Solutions LLC Invests $723,000 in Fastenal (NASDAQ:FAST)

Brady Martz Wealth Solutions LLC acquired a new position in shares of Fastenal (NASDAQ:FAST - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 9,799 shares of the company's stock, valued at approximately $723,000.

Several other large investors have also recently modified their holdings of the company. Seven Eight Capital LP purchased a new stake in Fastenal in the second quarter valued at about $679,000. Brighton Jones LLC raised its position in shares of Fastenal by 20.9% in the 2nd quarter. Brighton Jones LLC now owns 3,543 shares of the company's stock valued at $223,000 after purchasing an additional 612 shares during the last quarter. Ieq Capital LLC raised its position in shares of Fastenal by 3.5% in the 2nd quarter. Ieq Capital LLC now owns 34,415 shares of the company's stock valued at $2,163,000 after purchasing an additional 1,155 shares during the last quarter. AE Wealth Management LLC boosted its stake in Fastenal by 3.3% in the 2nd quarter. AE Wealth Management LLC now owns 53,649 shares of the company's stock worth $3,371,000 after purchasing an additional 1,705 shares in the last quarter. Finally, Skandinaviska Enskilda Banken AB publ grew its position in Fastenal by 10.7% during the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 359,537 shares of the company's stock worth $22,590,000 after purchasing an additional 34,896 shares during the last quarter. Institutional investors own 81.38% of the company's stock.

Fastenal Stock Performance

Shares of NASDAQ:FAST traded up $1.31 during trading on Monday, hitting $76.08. 7,826,844 shares of the stock traded hands, compared to its average volume of 2,372,262. 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 company has a fifty day moving average price of $77.92 and a two-hundred day moving average price of $73.07. Fastenal has a 52-week low of $61.36 and a 52-week high of $84.88. The company has a market cap of $43.59 billion, a price-to-earnings ratio of 37.85, a P/E/G ratio of 3.94 and a beta of 1.02.

Fastenal (NASDAQ:FAST - Get Free Report) last released its quarterly earnings data on Friday, January 17th. The company reported $0.46 earnings per share for the quarter, missing analysts' consensus estimates of $0.48 by ($0.02). Fastenal had a net margin of 15.44% and a return on equity of 33.30%. The firm had revenue of $1.82 billion during the quarter, compared to analysts' expectations of $1,842,560.16 billion. During the same period in the previous year, the firm posted $0.46 EPS. The firm's quarterly revenue was up 3.7% on a year-over-year basis. As a group, equities analysts predict that Fastenal will post 2.03 EPS for the current year.

Fastenal Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, January 31st will be given a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 2.26%. This is an increase from Fastenal's previous quarterly dividend of $0.39. Fastenal's dividend payout ratio is currently 85.57%.

Analysts Set New Price Targets

Several research firms have recently commented on FAST. Robert W. Baird lifted their price objective on shares of Fastenal from $67.00 to $80.00 and gave the stock a "neutral" rating in a research note on Monday, October 14th. Bank of America assumed coverage on Fastenal in a research report on Monday, October 7th. They set a "buy" rating and a $85.00 price target for the company. Stifel Nicolaus lowered Fastenal from a "buy" rating to a "hold" rating and set a $86.00 price objective on the stock. in a report on Wednesday, December 11th. JPMorgan Chase & Co. lifted their target price on Fastenal from $57.00 to $63.00 and gave the stock a "neutral" rating in a report on Thursday, October 10th. Finally, UBS Group began coverage on Fastenal in a research report on Wednesday, November 13th. They issued a "neutral" rating and a $88.00 target price on the stock. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat, Fastenal presently has an average rating of "Hold" and an average price target of $77.27.

Insider Buying and Selling at Fastenal

In related news, Director Daniel L. Johnson sold 8,474 shares of the company's stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $83.36, for a total transaction of $706,392.64. Following the completion of the transaction, the director now owns 10,595 shares in the company, valued at $883,199.20. This represents a 44.44 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Rita J. Heise sold 10,888 shares of the firm's stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $77.67, for a total transaction of $845,670.96. Following the completion of the transaction, the director now directly owns 20,000 shares in the company, valued at $1,553,400. This represents a 35.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 74,660 shares of company stock valued at $6,211,126. Company insiders own 0.41% of the company's stock.

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.