Signition LP acquired a new position in shares of Fastenal (NASDAQ:FAST) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 12,950 shares of the company’s stock, valued at approximately $422,000.
A number of other hedge funds have also recently modified their holdings of FAST. Farmers & Merchants Investments Inc. raised its holdings in Fastenal by 94.0% during the second quarter. Farmers & Merchants Investments Inc. now owns 774 shares of the company’s stock worth $25,000 after purchasing an additional 375 shares during the last quarter. Investors Research Corp acquired a new position in Fastenal during the first quarter worth $26,000. Advisors Preferred LLC acquired a new position in Fastenal during the second quarter worth $26,000. Wealthcare Advisory Partners LLC raised its holdings in Fastenal by 101.2% during the second quarter. Wealthcare Advisory Partners LLC now owns 843 shares of the company’s stock worth $27,000 after purchasing an additional 424 shares during the last quarter. Finally, Clarus Wealth Advisors raised its holdings in Fastenal by 101.2% during the second quarter. Clarus Wealth Advisors now owns 845 shares of the company’s stock worth $28,000 after purchasing an additional 425 shares during the last quarter. 85.36% of the stock is owned by hedge funds and other institutional investors.
Several equities analysts recently issued reports on FAST shares. ValuEngine cut Fastenal from a “sell” rating to a “strong sell” rating in a report on Thursday, May 23rd. BidaskClub raised Fastenal from a “sell” rating to a “hold” rating in a report on Friday, August 16th. Wells Fargo & Co cut their price target on Fastenal from $35.00 to $30.00 and set a “market perform” rating for the company in a report on Friday, July 12th. Raymond James cut their price target on Fastenal from $39.00 to $37.00 and set a “strong-buy” rating for the company in a report on Friday, July 12th. Finally, Morgan Stanley cut their price target on Fastenal from $31.50 to $29.00 and set an “equal weight” rating for the company in a report on Friday, July 12th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the company. Fastenal has a consensus rating of “Hold” and a consensus price target of $31.36.
Shares of NASDAQ FAST traded down $0.76 during trading on Friday, reaching $29.97. The company had a trading volume of 1,761,165 shares, compared to its average volume of 4,606,524. Fastenal has a twelve month low of $24.00 and a twelve month high of $35.94. The stock has a market capitalization of $17.48 billion, a PE ratio of 22.70, a price-to-earnings-growth ratio of 1.38 and a beta of 1.22. The stock has a 50-day moving average price of $30.61 and a two-hundred day moving average price of $49.39. The company has a current ratio of 4.68, a quick ratio of 2.13 and a debt-to-equity ratio of 0.25.
Fastenal (NASDAQ:FAST) last released its quarterly earnings results on Thursday, July 11th. The company reported $0.36 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.37 by ($0.01). Fastenal had a return on equity of 32.27% and a net margin of 14.74%. The company had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.38 billion. During the same period last year, the firm earned $0.37 earnings per share. The business’s revenue was up 7.9% compared to the same quarter last year. On average, sell-side analysts predict that Fastenal will post 1.38 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders of record on Thursday, July 25th were given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.94%. The ex-dividend date of this dividend was Wednesday, July 24th. Fastenal’s dividend payout ratio is currently 66.67%.
In other Fastenal news, Director Daniel L. Johnson acquired 2,500 shares of the stock in a transaction dated Thursday, August 1st. The stock was acquired at an average price of $30.49 per share, with a total value of $76,225.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael J. Ancius acquired 1,000 shares of the stock in a transaction dated Monday, August 5th. The stock was acquired at an average cost of $28.99 per share, with a total value of $28,990.00. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 4,604 shares of company stock valued at $138,479. Company insiders own 0.56% of the company’s stock.
Fastenal Company Profile
Fastenal Company, together with its subsidiaries, engages in the wholesale distribution of industrial and construction supplies in the United States, Canada, and internationally. It offers fasteners, and other industrial and construction supplies under the Fastenal name. The company's fastener products include threaded fasteners, such as 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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