ORG Wealth Partners LLC Sells 450 Shares of Fastenal (NASDAQ:FAST)

ORG Wealth Partners LLC lowered its holdings in shares of Fastenal (NASDAQ:FAST) by 7.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,358 shares of the company’s stock after selling 450 shares during the period. ORG Wealth Partners LLC’s holdings in Fastenal were worth $385,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Ashton Thomas Securities LLC bought a new stake in Fastenal in the 3rd quarter worth approximately $25,000. Knuff & Co LLC bought a new stake in shares of Fastenal during the 3rd quarter valued at about $27,000. Moisand Fitzgerald Tamayo LLC increased its position in shares of Fastenal by 1,019.0% during the 3rd quarter. Moisand Fitzgerald Tamayo LLC now owns 470 shares of the company’s stock valued at $34,000 after purchasing an additional 428 shares during the last quarter. First Personal Financial Services purchased a new stake in shares of Fastenal during the 3rd quarter valued at about $36,000. Finally, CVA Family Office LLC boosted its holdings in shares of Fastenal by 51.0% in the third quarter. CVA Family Office LLC now owns 533 shares of the company’s stock worth $38,000 after buying an additional 180 shares during the last quarter. Institutional investors own 81.38% of the company’s stock.

Analyst Ratings Changes

FAST has been the topic of several recent research reports. Jefferies Financial Group increased their price target on shares of Fastenal from $74.00 to $85.00 and gave the stock a “hold” rating in a research report on Friday, December 6th. JPMorgan Chase & Co. lifted their target price on Fastenal from $57.00 to $63.00 and gave the company a “neutral” rating in a research report on Thursday, October 10th. HSBC cut Fastenal from a “hold” rating to a “reduce” rating and set a $70.00 price target for the company. in a research report on Wednesday, December 11th. Bank of America began coverage on Fastenal in a research report on Monday, October 7th. They set a “buy” rating and a $85.00 price objective on the stock. Finally, UBS Group initiated coverage on shares of Fastenal in a report on Wednesday, November 13th. They issued a “neutral” rating and a $88.00 target price for the company. One analyst has rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat, Fastenal currently has an average rating of “Hold” and an average price target of $77.40.

Insider Activity

In related news, EVP Anthony Paul Broersma sold 680 shares of Fastenal stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $77.86, for a total value of $52,944.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Daniel L. Florness sold 31,818 shares of the firm’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $84.50, for a total transaction of $2,688,621.00. Following the transaction, the chief executive officer now directly owns 286,018 shares in the company, valued at $24,168,521. This trade represents a 10.01 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 158,289 shares of company stock valued at $12,639,438 in the last ninety days. Insiders own 0.41% of the company’s stock.

Fastenal Price Performance

Shares of FAST traded down $1.13 during mid-day trading on Friday, hitting $71.81. 910,678 shares of the stock were exchanged, compared to its average volume of 2,154,546. The firm has a 50-day moving average of $78.73 and a two-hundred day moving average of $72.50. Fastenal has a 52-week low of $61.36 and a 52-week high of $84.88. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.29 and a current ratio of 4.40. The company has a market cap of $41.14 billion, a PE ratio of 35.73, a price-to-earnings-growth ratio of 4.64 and a beta of 1.02.

Fastenal (NASDAQ:FAST) last posted its earnings results on Friday, October 11th. The company reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.01. Fastenal had a net margin of 15.44% and a return on equity of 33.30%. The firm had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.90 billion. During the same period in the previous year, the firm posted $0.52 EPS. The business’s quarterly revenue was up 3.5% on a year-over-year basis. On average, equities analysts predict that Fastenal will post 2.03 earnings per share for the current year.

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.