Fastenal (NASDAQ:FAST) Holdings Raised by Confluence Wealth Services Inc.

Confluence Wealth Services Inc. raised its position in Fastenal (NASDAQ:FAST - Free Report) by 363.4% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 16,443 shares of the company's stock after buying an additional 12,895 shares during the quarter. Confluence Wealth Services Inc.'s holdings in Fastenal were worth $1,241,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. Ashton Thomas Securities LLC purchased a new stake in shares of Fastenal in the 3rd quarter worth about $25,000. Knuff & Co LLC acquired a new position in Fastenal during the third quarter worth about $27,000. Moisand Fitzgerald Tamayo LLC lifted its holdings in shares of Fastenal by 1,019.0% in the third quarter. Moisand Fitzgerald Tamayo LLC now owns 470 shares of the company's stock valued at $34,000 after purchasing an additional 428 shares in the last quarter. First Personal Financial Services acquired a new stake in shares of Fastenal in the third quarter valued at approximately $36,000. Finally, CVA Family Office LLC increased its stake in shares of Fastenal by 51.0% during the 3rd quarter. CVA Family Office LLC now owns 533 shares of the company's stock worth $38,000 after purchasing an additional 180 shares in the last quarter. Institutional investors and hedge funds own 81.38% of the company's stock.

Fastenal Trading Down 1.1 %

FAST traded down $0.81 on Friday, reaching $73.84. 2,971,859 shares of the company's stock were exchanged, compared to its average volume of 3,333,444. Fastenal has a twelve month low of $61.36 and a twelve month high of $84.88. The company's 50 day moving average is $75.44 and its 200-day moving average is $73.90. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.28 and a current ratio of 4.67. The company has a market cap of $42.30 billion, a price-to-earnings ratio of 36.74, a PEG ratio of 3.55 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 (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.02). The business had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.84 billion. Fastenal had a return on equity of 32.55% and a net margin of 15.25%. Fastenal's revenue was up 3.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.46 EPS. Equities analysts predict that Fastenal will post 2.15 earnings per share for the current year.

Fastenal Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, January 31st will be paid a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.33%. The ex-dividend date of this dividend is Friday, January 31st. This is a boost from Fastenal's previous quarterly dividend of $0.39. Fastenal's payout ratio is currently 85.57%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Stephens upped their target price on Fastenal from $56.00 to $75.00 and gave the company an "equal weight" rating in a research note on Monday, October 14th. Jefferies Financial Group lifted their price objective on Fastenal from $74.00 to $85.00 and gave the stock a "hold" rating in a research report on Friday, December 6th. HSBC lowered shares of Fastenal from a "hold" rating to a "reduce" rating and set a $70.00 target price on the stock. in a report on Wednesday, December 11th. Stifel Nicolaus reduced their price objective on shares of Fastenal from $86.00 to $82.00 and set a "hold" rating on the stock in a research note on Tuesday, January 21st. Finally, Wolfe Research boosted their price target on Fastenal from $74.00 to $76.00 and gave the company an "underweight" rating in a report on Thursday, January 16th. 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 has an average rating of "Hold" and an average price target of $76.91.

Insider Transactions at Fastenal

In other Fastenal news, Director Daniel L. Johnson sold 8,474 shares of the company's stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $83.36, for a total transaction of $706,392.64. Following the sale, the director now owns 10,595 shares in the company, valued at $883,199.20. This represents a 44.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Daniel L. Florness sold 31,818 shares of Fastenal stock in a transaction on Monday, November 11th. The stock was sold at an average price of $84.50, for a total transaction of $2,688,621.00. Following the completion of the transaction, the chief executive officer now directly owns 286,018 shares of the company's stock, valued at approximately $24,168,521. This represents a 10.01 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 63,772 shares of company stock valued at $5,365,455 over the last quarter. Company insiders own 0.41% of the company's stock.

About Fastenal

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.