5,030 Shares in Fastenal Company $FAST Purchased by Goldstein Advisors LLC

Goldstein Advisors LLC purchased a new position in Fastenal Company (NASDAQ:FAST) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 5,030 shares of the company’s stock, valued at approximately $211,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Patton Fund Management Inc. bought a new stake in Fastenal in the 2nd quarter valued at about $229,000. Values First Advisors Inc. raised its stake in Fastenal by 183.0% in the 2nd quarter. Values First Advisors Inc. now owns 9,378 shares of the company’s stock valued at $394,000 after acquiring an additional 6,064 shares during the period. Charles Schwab Investment Management Inc. raised its stake in Fastenal by 8.9% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 22,615,915 shares of the company’s stock valued at $1,753,864,000 after acquiring an additional 1,850,871 shares during the period. Picton Mahoney Asset Management raised its stake in Fastenal by 7.5% in the 1st quarter. Picton Mahoney Asset Management now owns 181,482 shares of the company’s stock valued at $14,074,000 after acquiring an additional 12,721 shares during the period. Finally, KLP Kapitalforvaltning AS raised its stake in Fastenal by 3.9% in the 1st quarter. KLP Kapitalforvaltning AS now owns 195,748 shares of the company’s stock valued at $15,180,000 after acquiring an additional 7,400 shares during the period. 81.38% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

FAST has been the topic of a number of research reports. Baird R W upgraded Fastenal from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 7th. Wolfe Research restated a “positive” rating on shares of Fastenal in a research note on Monday, July 14th. Morgan Stanley set a $40.00 price objective on Fastenal and gave the company an “equal weight” rating in a research note on Thursday, July 3rd. Robert W. Baird lowered their price objective on Fastenal from $53.00 to $49.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 14th. Finally, Stifel Nicolaus set a $82.00 price objective on Fastenal in a research note on Thursday, July 3rd. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Fastenal presently has a consensus rating of “Hold” and a consensus price target of $46.50.

Fastenal Trading Up 1.2%

Shares of FAST opened at $42.46 on Friday. The business’s 50-day moving average price is $47.83 and its 200-day moving average price is $44.03. Fastenal Company has a twelve month low of $35.31 and a twelve month high of $50.63. The stock has a market cap of $48.73 billion, a PE ratio of 39.68, a P/E/G ratio of 3.87 and a beta of 0.94. The company has a quick ratio of 2.12, a current ratio of 4.26 and a debt-to-equity ratio of 0.03.

Fastenal (NASDAQ:FAST) last announced its quarterly earnings results on Monday, October 13th. The company reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.01). Fastenal had a net margin of 15.34% and a return on equity of 32.69%. The company had revenue of $2.13 billion for the quarter, compared to the consensus estimate of $2.13 billion. During the same quarter in the prior year, the company earned $0.26 earnings per share. The company’s quarterly revenue was up 11.7% on a year-over-year basis. On average, equities analysts forecast that Fastenal Company will post 2.15 EPS for the current fiscal year.

Fastenal Dividend Announcement

The business 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 $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 2.1%. The ex-dividend date is Tuesday, October 28th. Fastenal’s dividend payout ratio is 82.24%.

Insider Activity at Fastenal

In related news, EVP John Lewis Soderberg sold 34,612 shares of the company’s stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $48.03, for a total value of $1,662,414.36. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP William Joseph Drazkowski sold 6,842 shares of the company’s stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $48.67, for a total transaction of $333,000.14. Following the completion of the transaction, the executive vice president owned 11,994 shares in the company, valued at approximately $583,747.98. This trade represents a 36.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 90,178 shares of company stock valued at $4,336,603 in the last ninety days. 0.37% of the stock is currently owned by company insiders.

Fastenal Company 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.