Baldwin Wealth Partners LLC MA Sells 507 Shares of Fastenal (NASDAQ:FAST)

Baldwin Wealth Partners LLC MA decreased its position in Fastenal (NASDAQ:FAST) by 2.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 23,908 shares of the company’s stock after selling 507 shares during the period. Baldwin Wealth Partners LLC MA’s holdings in Fastenal were worth $1,719,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of FAST. State Street Corp raised its position in shares of Fastenal by 5.1% during the third quarter. State Street Corp now owns 27,989,485 shares of the company’s stock worth $1,999,009,000 after purchasing an additional 1,346,863 shares during the period. Geode Capital Management LLC lifted its holdings in Fastenal by 5.6% during the third quarter. Geode Capital Management LLC now owns 16,683,751 shares of the company’s stock worth $1,188,251,000 after acquiring an additional 880,372 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Fastenal by 3.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 19,878,045 shares of the company’s stock worth $1,419,690,000 after purchasing an additional 608,596 shares during the period. Benjamin Edwards Inc. lifted its stake in Fastenal by 1,789.1% in the third quarter. Benjamin Edwards Inc. now owns 535,723 shares of the company’s stock valued at $38,262,000 after purchasing an additional 507,364 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec grew its stake in shares of Fastenal by 59.3% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 928,377 shares of the company’s stock worth $66,305,000 after acquiring an additional 345,537 shares during the period. Institutional investors own 81.38% of the company’s stock.

Fastenal Stock Performance

Shares of NASDAQ:FAST opened at $75.48 on Monday. Fastenal has a one year low of $61.36 and a one year high of $84.88. 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 firm’s 50 day simple moving average is $77.18 and its 200-day simple moving average is $73.52. The firm has a market cap of $43.24 billion, a PE ratio of 37.46, a price-to-earnings-growth ratio of 3.60 and a beta of 1.02.

Fastenal (NASDAQ:FAST) last posted its quarterly earnings data on Friday, January 17th. The company reported $0.46 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.02). Fastenal had a return on equity of 32.55% and a net margin of 15.25%. The firm had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1,842,560.16 billion. During the same quarter last year, the firm earned $0.46 EPS. The company’s revenue was up 3.7% compared to the same quarter last year. As a group, equities analysts predict that Fastenal will post 2.15 EPS for the current year.

Fastenal Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, January 31st will be issued a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 2.28%. The ex-dividend date is Friday, January 31st. This is a boost from Fastenal’s previous quarterly dividend of $0.39. Fastenal’s payout ratio is 77.61%.

Analysts Set New Price Targets

A number of research firms have weighed in on FAST. Bank of America initiated coverage on Fastenal in a report on Monday, October 7th. They set a “buy” rating and a $85.00 target price for the company. JPMorgan Chase & Co. upped 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. Hsbc Global Res cut Fastenal from a “hold” rating to a “moderate sell” rating in a research note on Wednesday, December 11th. Morgan Stanley upped their price target 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. Finally, Robert W. Baird boosted their target price on Fastenal from $67.00 to $80.00 and gave the company a “neutral” rating in a research note on Monday, October 14th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $76.91.

Insiders Place Their Bets

In other Fastenal news, CEO Daniel L. Florness sold 31,818 shares of the company’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $84.50, for a total value of $2,688,621.00. Following the completion of the sale, the chief executive officer now directly owns 286,018 shares in the company, valued at $24,168,521. This represents a 10.01 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Rita J. Heise sold 10,888 shares of the company’s stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $77.67, for a total value of $845,670.96. Following the completion of the transaction, the director now directly owns 20,000 shares in the company, valued at approximately $1,553,400. This trade represents a 35.25 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 74,660 shares of company stock worth $6,211,126. Corporate insiders own 0.41% of the company’s stock.

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.