Assetmark Inc. Has $308,000 Stake in Fastenal (NASDAQ:FAST)

Assetmark Inc. lifted its holdings in Fastenal (NASDAQ:FAST) by 20.4% during the 3rd quarter, Holdings Channel reports. The fund owned 4,307 shares of the company’s stock after acquiring an additional 731 shares during the quarter. Assetmark Inc.’s holdings in Fastenal were worth $308,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of FAST. Central Valley Advisors LLC bought a new stake in Fastenal during the 2nd quarter worth about $28,000. Triad Wealth Partners LLC acquired a new position in shares of Fastenal during the second quarter worth approximately $32,000. Crewe Advisors LLC grew its stake in shares of Fastenal by 528.4% during the second quarter. Crewe Advisors LLC now owns 509 shares of the company’s stock valued at $32,000 after purchasing an additional 428 shares during the last quarter. Moisand Fitzgerald Tamayo LLC increased 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. Finally, OFI Invest Asset Management acquired a new stake in shares of Fastenal in the second quarter valued at approximately $35,000. 81.38% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Bank of America initiated coverage on Fastenal in a research report on Monday, October 7th. They issued a “buy” rating and a $85.00 price objective on the stock. UBS Group began coverage on Fastenal in a report on Wednesday. They issued a “neutral” rating and a $88.00 price target on the stock. Morgan Stanley boosted their price objective on Fastenal from $72.00 to $76.00 and gave the stock an “equal weight” rating in a report on Monday, October 14th. Robert W. Baird raised their target price on shares of Fastenal from $67.00 to $80.00 and gave the company a “neutral” rating in a research note on Monday, October 14th. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $86.00 price target (up previously from $80.00) on shares of Fastenal in a research report on Monday, October 14th. Eight research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, Fastenal presently has an average rating of “Hold” and an average target price of $74.80.

Fastenal Stock Performance

Shares of FAST stock opened at $81.85 on Friday. The stock has a market cap of $46.89 billion, a PE ratio of 40.72, a price-to-earnings-growth ratio of 4.90 and a beta of 0.99. The stock has a 50-day moving average of $74.96 and a 200-day moving average of $69.22. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.40 and a quick ratio of 2.29. Fastenal has a one year low of $59.47 and a one year high of $84.88.

Fastenal (NASDAQ:FAST) last issued its quarterly earnings data on Friday, October 11th. The company reported $0.52 earnings per share (EPS) for the quarter, beating 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 business’s revenue for the quarter was up 3.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.52 earnings per share. As a group, sell-side analysts expect that Fastenal will post 2.03 earnings per share for the current year.

Fastenal Dividend Announcement

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

Insider Buying and Selling

In related news, VP John Lewis Soderberg sold 488 shares of the stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $76.32, for a total transaction of $37,244.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Daniel L. Florness sold 45,744 shares of Fastenal stock in a transaction that occurred on Wednesday, August 21st. The shares were 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 in the company, valued at approximately $19,489,266.52. The trade was a 13.79 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 254,033 shares of company stock valued at $19,240,434. 0.41% of the stock is owned by company 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.