LRI Investments LLC Boosts Position in Fastenal Company $FAST

LRI Investments LLC grew its holdings in shares of Fastenal Company (NASDAQ:FAST) by 100.0% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,710 shares of the company’s stock after buying an additional 1,355 shares during the period. LRI Investments LLC’s holdings in Fastenal were worth $114,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. 1248 Management LLC purchased a new stake in Fastenal in the first quarter worth $36,000. Horizon Financial Services LLC grew its stake in Fastenal by 5,330.0% in the first quarter. Horizon Financial Services LLC now owns 543 shares of the company’s stock worth $42,000 after purchasing an additional 533 shares during the period. Riverview Trust Co grew its stake in Fastenal by 100.0% in the second quarter. Riverview Trust Co now owns 584 shares of the company’s stock worth $25,000 after purchasing an additional 292 shares during the period. Zions Bancorporation National Association UT purchased a new stake in Fastenal in the first quarter worth $49,000. Finally, Hilltop National Bank purchased a new stake in Fastenal in the second quarter worth $27,000. 81.38% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CFO Sheryl Ann Lisowski sold 21,052 shares of the stock in a transaction on Thursday, July 17th. The stock was sold at an average price of $45.21, for a total transaction of $951,760.92. Following the sale, the chief financial officer directly owned 10,192 shares of the company’s stock, valued at $460,780.32. This trade represents a 67.38% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Jeffery Michael Watts sold 48,724 shares of the stock in a transaction on Friday, August 8th. The shares were sold at an average price of $48.05, for a total value of $2,341,188.20. Following the sale, the insider directly owned 11,880 shares in the company, valued at $570,834. This trade represents a 80.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 111,230 shares of company stock valued at $5,288,364. 0.37% of the stock is currently owned by corporate insiders.

Fastenal Trading Down 2.0%

NASDAQ FAST opened at $45.78 on Monday. Fastenal Company has a 12 month low of $35.31 and a 12 month high of $50.63. The stock has a market cap of $52.54 billion, a P/E ratio of 44.02, a P/E/G ratio of 4.15 and a beta of 0.94. The stock’s fifty day moving average price is $48.26 and its 200-day moving average price is $43.94. The company has a current ratio of 4.22, a quick ratio of 2.12 and a debt-to-equity ratio of 0.03.

Fastenal (NASDAQ:FAST) last released its earnings results on Monday, July 14th. The company reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.01. Fastenal had a return on equity of 32.33% and a net margin of 15.30%.The firm had revenue of $2.08 billion for the quarter, compared to analysts’ expectations of $2.07 billion. During the same period in the prior year, the firm posted $0.25 earnings per share. The company’s quarterly revenue was up 8.6% on a year-over-year basis. As a group, equities analysts forecast that Fastenal Company will post 2.15 EPS for the current fiscal year.

Fastenal Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 25th. Investors of record on Tuesday, October 28th will be given a dividend of $0.22 per share. The ex-dividend date of this dividend is Tuesday, October 28th. This represents a $0.88 annualized dividend and a dividend yield of 1.9%. Fastenal’s dividend payout ratio (DPR) is 84.62%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Loop Capital reaffirmed a “hold” rating on shares of Fastenal in a research note on Tuesday, July 15th. Morgan Stanley set a $40.00 price target on Fastenal and gave the stock an “equal weight” rating in a research note on Thursday, July 3rd. JPMorgan Chase & Co. upped their price target on Fastenal from $41.00 to $46.00 and gave the stock a “neutral” rating in a research note on Thursday, September 4th. Wolfe Research reaffirmed a “positive” rating on shares of Fastenal in a research note on Monday, July 14th. Finally, Northcoast Research started coverage on Fastenal in a research note on Thursday, August 21st. They issued a “neutral” rating on the stock. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Fastenal has an average rating of “Hold” and a consensus price target of $47.41.

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.