Great Valley Advisor Group Inc. Reduces Stake in Fastenal (NASDAQ:FAST)

Great Valley Advisor Group Inc. Reduces Stake in Fastenal (NASDAQ:FAST)

Great Valley Advisor Group Inc. reduced its position in Fastenal (NASDAQ:FAST) by 4.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 41,892 shares of the company’s stock after selling 1,821 shares during the period. Great Valley Advisor Group Inc.’s holdings in Fastenal were worth $2,045,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Fieldpoint Private Securities LLC purchased a new position in shares of Fastenal in the 4th quarter worth $25,000. ELM Advisors LLC purchased a new position in shares of Fastenal in the 4th quarter worth $29,000. Kinloch Capital LLC purchased a new position in shares of Fastenal in the 4th quarter worth $31,000. Newfound Research LLC purchased a new position in shares of Fastenal in the 3rd quarter worth $35,000. Finally, Norway Savings Bank purchased a new position in shares of Fastenal in the 3rd quarter worth $36,000. Hedge funds and other institutional investors own 77.13% of the company’s stock.

In related news, Director Michael J. Ancius purchased 770 shares of the company’s stock in a transaction that occurred on Monday, January 25th. The stock was bought at an average price of $47.50 per share, for a total transaction of $36,575.00. Following the completion of the transaction, the director now owns 426,000 shares in the company, valued at approximately $20,235,000.

The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Stephen L. Eastman purchased 1,000 shares of the company’s stock in a transaction that occurred on Thursday, January 28th. The stock was bought at an average price of $48.29 per share, with a total value of $48,290.00. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 2,370 shares of company stock valued at $113,917. 0.57% of the stock is currently owned by company insiders.

A number of equities analysts have recently issued reports on the company. Morgan Stanley raised their price target on Fastenal from $47.00 to $49.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 21st. Stephens began coverage on Fastenal in a report on Thursday, October 15th. They issued an “overweight” rating on the stock. Argus raised their target price on Fastenal from $43.00 to $52.00 and gave the stock a “buy” rating in a report on Thursday, October 15th.

Finally, Deutsche Bank Aktiengesellschaft cut Fastenal from a “buy” rating to a “hold” rating and set a $51.00 target price on the stock. in a report on Wednesday, December 16th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $45.30.

NASDAQ:FAST traded up $0.30 on Tuesday, reaching $46.72. 109,388 shares of the company’s stock traded hands, compared to its average volume of 3,481,083. The company has a quick ratio of 2.16, a current ratio of 4.39 and a debt-to-equity ratio of 0.13.

The stock has a 50-day simple moving average of $49.13 and a 200-day simple moving average of $47.14. The firm has a market cap of $26.82 billion, a PE ratio of 31.79, a P/E/G ratio of 3.69 and a beta of 1.21. Fastenal has a 12 month low of $26.72 and a 12 month high of $51.89.

Fastenal (NASDAQ:FAST) last posted its quarterly earnings results on Tuesday, January 19th. The company reported $0.34 EPS for the quarter, beating the Zacks’ consensus estimate of $0.33 by $0.01. The business had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.33 billion.

Fastenal had a return on equity of 30.63% and a net margin of 15.12%. The business’s quarterly revenue was up 6.4% on a year-over-year basis. During the same period last year, the firm earned $0.31 earnings per share. On average, equities analysts anticipate that Fastenal will post 1.47 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 3rd. Stockholders of record on Wednesday, February 3rd will be issued a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 2.40%. This is a boost from Fastenal’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Tuesday, February 2nd. Fastenal’s payout ratio is 72.46%.

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

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