Carolina Wealth Advisors LLC Has $3.97 Million Position in Fastenal (NASDAQ:FAST)

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Carolina Wealth Advisors LLC trimmed its position in Fastenal (NASDAQ:FAST) by 0.6% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 88,025 shares of the company’s stock after selling 557 shares during the quarter. Fastenal comprises approximately 3.5% of Carolina Wealth Advisors LLC’s portfolio, making the stock its 10th largest holding. Carolina Wealth Advisors LLC’s holdings in Fastenal were worth $3,969,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the stock. AlphaStar Capital Management LLC boosted its stake in Fastenal by 3.6% during the 2nd quarter. AlphaStar Capital Management LLC now owns 11,885 shares of the company’s stock valued at $523,000 after purchasing an additional 414 shares during the last quarter. Townsend & Associates Inc acquired a new position in Fastenal during the 2nd quarter valued at about $1,966,000. FMR LLC boosted its stake in Fastenal by 72.5% during the 2nd quarter. FMR LLC now owns 1,627,880 shares of the company’s stock valued at $69,738,000 after purchasing an additional 684,114 shares during the last quarter. Algert Global LLC boosted its stake in Fastenal by 76.7% during the 2nd quarter. Algert Global LLC now owns 47,824 shares of the company’s stock valued at $2,049,000 after purchasing an additional 20,758 shares during the last quarter. Finally, Teza Capital Management LLC acquired a new position in Fastenal during the 2nd quarter valued at about $254,000. 77.18% of the stock is owned by institutional investors and hedge funds.

Shares of NASDAQ:FAST traded down $1.10 during mid-day trading on Wednesday, reaching $43.94. The company had a trading volume of 3,432,523 shares, compared to its average volume of 4,546,081. The company has a current ratio of 4.39, a quick ratio of 1.91 and a debt-to-equity ratio of 0.13. The firm has a market cap of $25.84 billion, a price-to-earnings ratio of 30.10, a PEG ratio of 3.43 and a beta of 1.19. The company’s 50-day moving average price is $45.34 and its 200-day moving average price is $42.47. Fastenal has a one year low of $26.72 and a one year high of $49.86.

Fastenal (NASDAQ:FAST) last posted its quarterly earnings results on Sunday, October 18th. The company reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.01. The company had revenue of $1.41 billion for the quarter, compared to analysts’ expectations of $1.40 billion. Fastenal had a net margin of 15.12% and a return on equity of 30.63%. Fastenal’s revenue was up 2.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.37 EPS. On average, research analysts anticipate that Fastenal will post 1.47 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 24th. Investors of record on Tuesday, October 27th will be issued a $0.25 dividend. The ex-dividend date is Monday, October 26th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.28%. Fastenal’s dividend payout ratio (DPR) is presently 72.46%.

In other Fastenal news, Director Hsenghung Sam Hsu bought 1,000 shares of the stock in a transaction on Friday, October 16th. The shares were acquired at an average price of $45.00 per share, with a total value of $45,000.00. Following the acquisition, the director now directly owns 1,000 shares of the company’s stock, valued at approximately $45,000. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider William Joseph Drazkowski sold 28,554 shares of the business’s stock in a transaction on Friday, July 24th. The shares were sold at an average price of $45.59, for a total transaction of $1,301,776.86. Following the sale, the insider now directly owns 9,330 shares in the company, valued at approximately $425,354.70. The disclosure for this sale can be found here. In the last ninety days, insiders purchased 3,550 shares of company stock worth $159,157 and sold 72,624 shares worth $3,386,795. Insiders own 0.57% of the company’s stock.

FAST has been the subject of a number of analyst reports. BidaskClub downgraded Fastenal from a “buy” rating to a “hold” rating in a research note on Thursday, September 10th. Zacks Investment Research downgraded Fastenal from a “buy” rating to a “hold” rating and set a $50.00 target price on the stock. in a research note on Tuesday, August 4th. Stephens assumed coverage on Fastenal in a research note on Thursday, October 15th. They issued an “overweight” rating on the stock. UBS Group assumed coverage on Fastenal in a research note on Tuesday, September 15th. They issued a “neutral” rating and a $44.00 target price on the stock. Finally, ValuEngine downgraded Fastenal from a “hold” rating to a “sell” rating in a research note on Thursday, October 1st. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $44.36.

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, which are used in manufactured products and construction projects, as well as in the maintenance and repair of machines.

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Institutional Ownership by Quarter for Fastenal (NASDAQ:FAST)

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