FinTrust Capital Advisors LLC grew its position in shares of Fastenal (NASDAQ:FAST) by 65.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,482 shares of the company’s stock after acquiring an additional 584 shares during the quarter. FinTrust Capital Advisors LLC’s holdings in Fastenal were worth $48,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Farmers & Merchants Investments Inc. increased its holdings in shares of Fastenal by 94.0% during the second quarter. Farmers & Merchants Investments Inc. now owns 774 shares of the company’s stock valued at $25,000 after acquiring an additional 375 shares in the last quarter. Investors Research Corp bought a new stake in shares of Fastenal during the first quarter valued at approximately $26,000. Wealthcare Advisory Partners LLC increased its holdings in shares of Fastenal by 101.2% during the second quarter. Wealthcare Advisory Partners LLC now owns 843 shares of the company’s stock valued at $27,000 after acquiring an additional 424 shares in the last quarter. Clarus Wealth Advisors increased its holdings in shares of Fastenal by 101.2% during the second quarter. Clarus Wealth Advisors now owns 845 shares of the company’s stock valued at $28,000 after acquiring an additional 425 shares in the last quarter. Finally, Strategy Asset Managers LLC bought a new stake in shares of Fastenal during the first quarter valued at approximately $32,000. Hedge funds and other institutional investors own 85.36% of the company’s stock.
Fastenal stock traded up $0.70 during trading on Friday, hitting $29.98. 2,860,700 shares of the company were exchanged, compared to its average volume of 4,848,511. The business’s 50 day moving average is $30.84 and its 200 day moving average is $50.13. Fastenal has a 52 week low of $24.00 and a 52 week high of $35.94. The company has a market capitalization of $17.19 billion, a P/E ratio of 22.71, a PEG ratio of 1.32 and a beta of 1.22. 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 announced its quarterly earnings results on Thursday, July 11th. The company reported $0.36 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ 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 for the quarter, compared to the consensus estimate of $1.38 billion. During the same quarter last year, the company posted $0.37 EPS. The company’s quarterly revenue was up 7.9% compared to the same quarter last year. Equities analysts expect that Fastenal will post 1.38 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, August 22nd. Investors of record on Thursday, July 25th will be issued a dividend of $0.22 per share. The ex-dividend date of this dividend is Wednesday, July 24th. This represents a $0.88 annualized dividend and a yield of 2.94%. Fastenal’s dividend payout ratio (DPR) is currently 66.67%.
In other Fastenal news, Director Michael J. Ancius acquired 1,104 shares of the business’s stock in a transaction on Thursday, July 18th. The shares were acquired at an average price of $30.13 per share, with a total value of $33,263.52. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Daniel L. Johnson acquired 2,500 shares of the business’s stock in a transaction on Thursday, August 1st. The stock was acquired at an average cost of $30.49 per share, for a total transaction of $76,225.00. The disclosure for this purchase can be found here. Insiders have purchased 4,604 shares of company stock valued at $138,479 in the last quarter. 0.56% of the stock is currently owned by corporate insiders.
Several equities research analysts have recently commented on FAST shares. Morgan Stanley decreased their price objective on Fastenal from $31.50 to $29.00 and set an “equal weight” rating for the company in a report on Friday, July 12th. Buckingham Research decreased their price objective on Fastenal from $31.00 to $29.00 and set a “neutral” rating for the company in a report on Friday, July 12th. BidaskClub upgraded Fastenal from a “sell” rating to a “hold” rating in a report on Friday. Raymond James decreased 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, ValuEngine downgraded Fastenal from a “sell” rating to a “strong sell” rating in a report on Thursday, May 23rd. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. Fastenal currently has a consensus rating of “Hold” and a consensus price target of $31.36.
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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