Fastenal Company $FAST Shares Acquired by Resonant Capital Advisors LLC

Resonant Capital Advisors LLC boosted its stake in Fastenal Company (NASDAQ:FAST) by 120.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,513 shares of the company’s stock after acquiring an additional 17,776 shares during the period. Resonant Capital Advisors LLC’s holdings in Fastenal were worth $1,366,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the stock. Cantillon Capital Management LLC lifted its position in shares of Fastenal by 94.4% during the second quarter. Cantillon Capital Management LLC now owns 9,298,033 shares of the company’s stock worth $390,517,000 after purchasing an additional 4,513,985 shares during the last quarter. Blair William & Co. IL increased its holdings in Fastenal by 107.2% in the second quarter. Blair William & Co. IL now owns 6,822,973 shares of the company’s stock valued at $286,565,000 after buying an additional 3,530,339 shares during the last quarter. TD Asset Management Inc raised its stake in Fastenal by 90.0% during the second quarter. TD Asset Management Inc now owns 4,934,558 shares of the company’s stock valued at $207,251,000 after buying an additional 2,337,187 shares in the last quarter. Fenimore Asset Management Inc lifted its holdings in Fastenal by 101.0% during the 2nd quarter. Fenimore Asset Management Inc now owns 3,747,704 shares of the company’s stock worth $157,404,000 after buying an additional 1,883,419 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Fastenal by 8.9% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 22,615,915 shares of the company’s stock worth $1,753,864,000 after acquiring an additional 1,850,871 shares in the last quarter. 81.38% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently issued reports on FAST. Loop Capital reissued a “hold” rating on shares of Fastenal in a research report on Tuesday, July 15th. Northcoast Research started coverage on shares of Fastenal in a report on Thursday, August 21st. They set a “neutral” rating on the stock. Weiss Ratings restated a “buy (b)” rating on shares of Fastenal in a research report on Saturday. Morgan Stanley set a $40.00 price objective on shares of Fastenal and gave the company an “equal weight” rating in a research report on Thursday, July 3rd. Finally, JPMorgan Chase & Co. increased their price objective on shares of Fastenal from $41.00 to $46.00 and gave the stock a “neutral” rating in a research note on Thursday, September 4th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Fastenal presently has a consensus rating of “Hold” and a consensus target price of $46.50.

Fastenal Stock Down 0.3%

Fastenal stock opened at $42.87 on Friday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.19 and a current ratio of 4.26. Fastenal Company has a one year low of $35.31 and a one year high of $50.63. The company has a 50-day simple moving average of $47.27 and a 200-day simple moving average of $44.25. The firm has a market capitalization of $49.22 billion, a P/E ratio of 40.07, a P/E/G ratio of 3.91 and a beta of 0.94.

Fastenal (NASDAQ:FAST) last issued its quarterly earnings data 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 firm had revenue of $2.13 billion during the quarter, compared to the consensus estimate of $2.13 billion. During the same quarter in the prior year, the business earned $0.26 earnings per share. The company’s revenue for the quarter was up 11.7% compared to the same quarter last year. As a group, equities analysts expect that Fastenal Company will post 2.15 earnings per share for the current year.

Fastenal Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 25th. Stockholders of record on Tuesday, October 28th will be given a dividend of $0.22 per share. The ex-dividend date is Tuesday, October 28th. This represents a $0.88 annualized dividend and a dividend yield of 2.1%. Fastenal’s payout ratio is currently 82.24%.

Insiders Place Their Bets

In other Fastenal news, Director Hsenghung Sam Hsu purchased 1,000 shares of the firm’s stock in a transaction dated Thursday, October 16th. The stock was bought at an average price of $42.45 per share, with a total value of $42,450.00. Following the completion of the purchase, the director owned 9,000 shares in the company, valued at $382,050. This trade represents a 12.50% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, 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 transaction, 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 90 days, insiders sold 90,178 shares of company stock valued at $4,336,603. 0.37% of the stock is owned by corporate insiders.

Fastenal 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.