WBH Advisory Inc. Buys 4,085 Shares of Fastenal Company $FAST

WBH Advisory Inc. increased its stake in shares of Fastenal Company (NASDAQ:FAST) by 100.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,170 shares of the company’s stock after purchasing an additional 4,085 shares during the quarter. WBH Advisory Inc.’s holdings in Fastenal were worth $343,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of FAST. Riverview Trust Co lifted its holdings in Fastenal by 100.0% in the second quarter. Riverview Trust Co now owns 584 shares of the company’s stock valued at $25,000 after buying an additional 292 shares during the period. Hilltop National Bank acquired a new position in Fastenal in the second quarter valued at approximately $27,000. Private Wealth Management Group LLC lifted its holdings in Fastenal by 111.9% in the second quarter. Private Wealth Management Group LLC now owns 642 shares of the company’s stock valued at $27,000 after buying an additional 339 shares during the period. Armstrong Advisory Group Inc. lifted its holdings in Fastenal by 100.0% in the second quarter. Armstrong Advisory Group Inc. now owns 696 shares of the company’s stock valued at $29,000 after buying an additional 348 shares during the period. Finally, AdvisorNet Financial Inc lifted its holdings in Fastenal by 95.0% in the second quarter. AdvisorNet Financial Inc now owns 702 shares of the company’s stock valued at $29,000 after buying an additional 342 shares during the period. 81.38% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on FAST. Robert W. Baird cut their price objective on shares of Fastenal from $53.00 to $49.00 and set an “outperform” rating on the stock in a report on Tuesday, October 14th. Barclays set a $45.00 target price on shares of Fastenal and gave the stock an “equal weight” rating in a report on Tuesday, October 14th. Loop Capital reiterated a “hold” rating on shares of Fastenal in a report on Tuesday, July 15th. JPMorgan Chase & Co. increased their target price on shares of Fastenal from $41.00 to $46.00 and gave the stock a “neutral” rating in a report on Thursday, September 4th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Fastenal in a report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Fastenal presently has a consensus rating of “Hold” and a consensus price target of $46.50.

Insider Buying and Selling at Fastenal

In related news, insider Jeffery Michael Watts sold 48,724 shares of the firm’s 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 completion of the transaction, the insider owned 11,880 shares of the company’s stock, valued at approximately $570,834. This trade represents a 80.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP William Joseph Drazkowski sold 6,842 shares of the firm’s stock in a transaction on Friday, August 15th. The shares were 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 directly owned 11,994 shares of the company’s stock, valued at approximately $583,747.98. This trade represents a 36.32% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 90,178 shares of company stock worth $4,336,603 in the last three months. 0.37% of the stock is currently owned by company insiders.

Fastenal Trading Up 1.2%

Shares of NASDAQ:FAST opened at $42.99 on Tuesday. Fastenal Company has a 12 month low of $35.31 and a 12 month high of $50.63. The company has a quick ratio of 2.19, a current ratio of 4.26 and a debt-to-equity ratio of 0.03. The company’s fifty day simple moving average is $47.74 and its 200 day simple moving average is $44.11. The firm has a market cap of $49.35 billion, a price-to-earnings ratio of 40.18, a PEG ratio of 3.87 and a beta of 0.94.

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

Fastenal Dividend Announcement

The firm also recently announced 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. The ex-dividend date of this dividend is Tuesday, October 28th. This represents a $0.88 dividend on an annualized basis and a yield of 2.0%. Fastenal’s dividend payout ratio (DPR) is 82.24%.

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.