Icon Wealth Advisors LLC Sells 10,490 Shares of Fastenal (NASDAQ:FAST)

Icon Wealth Advisors LLC decreased its holdings in Fastenal (NASDAQ:FAST) by 69.7% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,567 shares of the company’s stock after selling 10,490 shares during the quarter. Icon Wealth Advisors LLC’s holdings in Fastenal were worth $326,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Ashton Thomas Securities LLC bought a new position in shares of Fastenal in the third quarter valued at about $25,000. Knuff & Co LLC acquired a new stake in shares of Fastenal during the 3rd quarter worth approximately $27,000. Central Valley Advisors LLC acquired a new stake in shares of Fastenal during the 2nd quarter worth approximately $28,000. Moisand Fitzgerald Tamayo LLC raised its stake in shares of Fastenal by 1,019.0% during the third quarter. Moisand Fitzgerald Tamayo LLC now owns 470 shares of the company’s stock worth $34,000 after buying an additional 428 shares during the last quarter. Finally, LRI Investments LLC acquired a new position in Fastenal in the first quarter valued at approximately $39,000. Institutional investors and hedge funds own 81.38% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on FAST. Bank of America started coverage on Fastenal in a research note on Monday, October 7th. They issued a “buy” rating and a $85.00 price target on the stock. Stifel Nicolaus restated a “buy” rating and set a $86.00 target price (up from $80.00) on shares of Fastenal in a research report on Monday, October 14th. Stephens increased their target price on shares of Fastenal from $56.00 to $75.00 and gave the stock an “equal weight” rating in a report on Monday, October 14th. JPMorgan Chase & Co. boosted their price objective on Fastenal from $57.00 to $63.00 and gave the company a “neutral” rating in a research report on Thursday, October 10th. Finally, Robert W. Baird raised their price objective on shares of Fastenal from $67.00 to $80.00 and gave the stock a “neutral” rating in a report on Monday, October 14th. Eight investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $74.80.

Fastenal Stock Up 0.9 %

Shares of FAST opened at $83.08 on Friday. The company has a current ratio of 4.40, a quick ratio of 2.29 and a debt-to-equity ratio of 0.03. Fastenal has a 12 month low of $59.47 and a 12 month high of $84.88. The firm’s 50 day moving average is $76.26 and its 200-day moving average is $69.74. The stock has a market capitalization of $47.60 billion, a PE ratio of 41.33, a P/E/G ratio of 4.83 and a beta of 0.99.

Fastenal (NASDAQ:FAST) last posted its quarterly earnings data on Friday, October 11th. The company reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.01. The firm had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.90 billion. Fastenal had a return on equity of 33.30% and a net margin of 15.44%. The company’s revenue was up 3.5% on a year-over-year basis. During the same quarter last year, the company earned $0.52 EPS. Equities research analysts forecast that Fastenal will post 2.03 EPS for the current year.

Fastenal Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Friday, October 25th were given a dividend of $0.39 per share. The ex-dividend date was Friday, October 25th. This represents a $1.56 annualized dividend and a yield of 1.88%. Fastenal’s dividend payout ratio is 77.61%.

Insiders Place Their Bets

In related news, VP John Lewis Soderberg sold 488 shares of the company’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $76.32, for a total transaction of $37,244.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Daniel L. Johnson sold 8,474 shares of the stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $83.36, for a total transaction of $706,392.64. Following the completion of the transaction, the director now directly owns 10,595 shares of the company’s stock, valued at $883,199.20. This trade represents a 44.44 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 208,289 shares of company stock worth $16,123,438 over the last ninety days. Corporate insiders own 0.41% of the company’s stock.

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