CWA Asset Management Group LLC Buys Shares of 13,840 Fastenal (NASDAQ:FAST)

CWA Asset Management Group LLC bought a new position in Fastenal (NASDAQ:FAST - Free Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 13,840 shares of the company's stock, valued at approximately $988,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Aaron Wealth Advisors LLC purchased a new position in shares of Fastenal in the third quarter worth approximately $310,000. Empowered Funds LLC lifted its stake in shares of Fastenal by 205.4% in the 1st quarter. Empowered Funds LLC now owns 27,181 shares of the company's stock valued at $2,097,000 after purchasing an additional 18,281 shares during the last quarter. Cetera Investment Advisers lifted its holdings in shares of Fastenal by 499.7% in the 1st quarter. Cetera Investment Advisers now owns 132,046 shares of the company's stock worth $10,186,000 after acquiring an additional 110,027 shares during the last quarter. M&G Plc bought a new stake in shares of Fastenal in the 1st quarter valued at about $11,212,000. Finally, Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Fastenal by 5.7% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 210,998 shares of the company's stock valued at $13,259,000 after buying an additional 11,436 shares in the last quarter. Institutional investors own 81.38% of the company's stock.

Fastenal Trading Up 1.8 %

Shares of NASDAQ FAST traded up $1.49 during midday trading on Monday, reaching $84.82. 852,155 shares of the stock were exchanged, compared to its average volume of 3,323,938. The stock has a 50 day moving average price of $73.29 and a 200-day moving average price of $68.71. The company has a current ratio of 4.40, a quick ratio of 2.29 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $48.59 billion, a P/E ratio of 41.46, a P/E/G ratio of 4.88 and a beta of 0.99. Fastenal has a 52-week low of $59.47 and a 52-week high of $84.88.

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

Fastenal Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Friday, October 25th will be paid a dividend of $0.39 per share. The ex-dividend date of this dividend is Friday, October 25th. This represents a $1.56 dividend on an annualized basis and a yield of 1.84%. Fastenal's dividend payout ratio (DPR) is presently 77.61%.

Analyst Ratings Changes

FAST has been the subject of a number of recent analyst reports. Morgan Stanley lifted their price objective on shares of Fastenal from $72.00 to $76.00 and gave the company an "equal weight" rating in a report on Monday, October 14th. Bank of America assumed coverage on Fastenal in a research note on Monday, October 7th. They set a "buy" rating and a $85.00 price objective on the stock. Robert W. Baird increased their price objective on shares of Fastenal from $67.00 to $80.00 and gave the stock a "neutral" rating in a research report on Monday, October 14th. Stephens raised their price target on Fastenal from $56.00 to $75.00 and gave the stock an "equal weight" rating in a research report on Monday, October 14th. Finally, JPMorgan Chase & Co. increased their target price on Fastenal from $57.00 to $63.00 and gave the stock a "neutral" rating in a research note on Thursday, October 10th. Seven analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $73.33.

Insiders Place Their Bets

In other news, CEO Daniel L. Florness sold 50,000 shares of Fastenal stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $69.68, for a total value of $3,484,000.00. Following the completion of the transaction, the chief executive officer now directly owns 286,018 shares of the company's stock, valued at approximately $19,929,734.24. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CEO Daniel L. Florness sold 45,744 shares of Fastenal stock in a transaction dated 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 transaction, the chief executive officer now directly owns 286,018 shares of the company's stock, valued at $19,489,266.52. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Daniel L. Florness sold 50,000 shares of the firm's stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $69.68, for a total value of $3,484,000.00. Following the sale, the chief executive officer now directly owns 286,018 shares of the company's stock, valued at approximately $19,929,734.24. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 190,261 shares of company stock worth $13,874,979 in the last three months. 0.41% of the stock is owned by insiders.

Fastenal 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.