Brookstone Capital Management Makes New Investment in Fastenal (NASDAQ:FAST)

Brookstone Capital Management acquired a new position in Fastenal (NASDAQ:FAST) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 4,094 shares of the company’s stock, valued at approximately $316,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Windsor Capital Management LLC acquired a new position in Fastenal in the first quarter worth $219,000. Kingswood Wealth Advisors LLC acquired a new position in Fastenal in the first quarter worth $226,000. Annex Advisory Services LLC acquired a new position in Fastenal in the first quarter worth $271,000. Gateway Investment Advisers LLC raised its position in shares of Fastenal by 41.3% during the first quarter. Gateway Investment Advisers LLC now owns 13,683 shares of the company’s stock worth $1,056,000 after acquiring an additional 4,002 shares during the last quarter. Finally, FCF Advisors LLC raised its position in shares of Fastenal by 40.0% during the first quarter. FCF Advisors LLC now owns 42,286 shares of the company’s stock worth $3,262,000 after acquiring an additional 12,086 shares during the last quarter. Institutional investors and hedge funds own 81.38% of the company’s stock.

Fastenal Trading Down 1.2 %

NASDAQ FAST opened at $62.09 on Tuesday. The stock has a 50-day simple moving average of $65.84 and a 200 day simple moving average of $68.65. The company has a market capitalization of $35.55 billion, a PE ratio of 30.74, a P/E/G ratio of 3.36 and a beta of 1.01. The company has a current ratio of 4.83, a quick ratio of 2.49 and a debt-to-equity ratio of 0.06. Fastenal has a 12 month low of $53.83 and a 12 month high of $79.04.

Fastenal (NASDAQ:FAST) last released its quarterly earnings data on Thursday, April 11th. The company reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.01). The company had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.91 billion. Fastenal had a net margin of 15.68% and a return on equity of 33.98%. The company’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.52 EPS. Research analysts forecast that Fastenal will post 2.08 EPS for the current year.

Fastenal Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 23rd. Shareholders of record on Thursday, April 25th were issued a $0.39 dividend. The ex-dividend date was Wednesday, April 24th. This represents a $1.56 annualized dividend and a dividend yield of 2.51%. Fastenal’s dividend payout ratio (DPR) is currently 77.23%.

Wall Street Analysts Forecast Growth

FAST has been the subject of a number of recent research reports. Loop Capital dropped their target price on Fastenal from $71.00 to $66.00 and set a “hold” rating for the company in a research report on Monday, April 15th. Stifel Nicolaus boosted their target price on Fastenal from $75.00 to $85.00 and gave the stock a “buy” rating in a research report on Monday, March 18th. HSBC boosted their target price on Fastenal from $59.00 to $64.00 and gave the stock a “hold” rating in a research report on Monday, April 15th. Finally, Robert W. Baird dropped their target price on Fastenal from $71.00 to $69.00 and set a “neutral” rating for the company in a research report on Tuesday, May 7th. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $68.80.

Insiders Place Their Bets

In other Fastenal news, Director Daniel L. Johnson purchased 3,350 shares of the stock in a transaction on Wednesday, April 17th. The stock was bought at an average cost of $68.38 per share, for a total transaction of $229,073.00. Following the completion of the acquisition, the director now directly owns 10,595 shares of the company’s stock, valued at $724,486.10. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, Director Hsenghung Sam Hsu acquired 500 shares of Fastenal stock in a transaction dated Monday, June 10th. The stock was bought at an average cost of $63.28 per share, with a total value of $31,640.00. Following the completion of the transaction, the director now directly owns 3,500 shares of the company’s stock, valued at $221,480. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Daniel L. Johnson acquired 3,350 shares of Fastenal stock in a transaction dated Wednesday, April 17th. The shares were purchased at an average cost of $68.38 per share, with a total value of $229,073.00. Following the completion of the transaction, the director now directly owns 10,595 shares of the company’s stock, valued at $724,486.10. The disclosure for this purchase can be found here. 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.