UNIVEST FINANCIAL Corp Has $1.19 Million Holdings in Fastenal Company $FAST

UNIVEST FINANCIAL Corp lifted its stake in shares of Fastenal Company (NASDAQ:FAST) by 94.2% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 28,372 shares of the company’s stock after buying an additional 13,762 shares during the period. UNIVEST FINANCIAL Corp’s holdings in Fastenal were worth $1,192,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of FAST. Riverview Trust Co increased its holdings in shares of Fastenal by 100.0% during the second quarter. Riverview Trust Co now owns 584 shares of the company’s stock worth $25,000 after buying an additional 292 shares in the last quarter. Hilltop National Bank bought a new stake in shares of Fastenal in the second quarter worth $27,000. Private Wealth Management Group LLC grew its stake in shares of Fastenal by 111.9% in the second quarter. Private Wealth Management Group LLC now owns 642 shares of the company’s stock worth $27,000 after purchasing an additional 339 shares during the last quarter. Armstrong Advisory Group Inc. grew its stake in shares of Fastenal by 100.0% in the second quarter. Armstrong Advisory Group Inc. now owns 696 shares of the company’s stock worth $29,000 after purchasing an additional 348 shares during the last quarter. Finally, AdvisorNet Financial Inc grew its stake in shares of Fastenal by 95.0% in the second quarter. AdvisorNet Financial Inc now owns 702 shares of the company’s stock worth $29,000 after purchasing an additional 342 shares during the last quarter. 81.38% of the stock is currently owned by institutional investors and hedge funds.

Fastenal Stock Performance

Shares of FAST opened at $41.55 on Friday. The company has a current ratio of 4.26, a quick ratio of 2.19 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $47.70 billion, a P/E ratio of 38.83, a price-to-earnings-growth ratio of 3.75 and a beta of 0.94. The firm’s fifty day simple moving average is $46.65 and its two-hundred day simple moving average is $44.33. Fastenal Company has a 12 month low of $35.31 and a 12 month high of $50.63.

Fastenal (NASDAQ:FAST) last issued its quarterly earnings results on Monday, October 13th. The company reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.01). The firm had revenue of $2.13 billion for the quarter, compared to the consensus estimate of $2.13 billion. Fastenal had a net margin of 15.34% and a return on equity of 32.69%. The business’s revenue was up 11.7% compared to the same quarter last year. During the same period last year, the company posted $0.26 EPS. As a group, analysts predict that Fastenal Company will post 2.15 EPS for the current year.

Fastenal Dividend Announcement

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

Insider Activity at Fastenal

In other news, EVP William Joseph Drazkowski sold 6,842 shares of the stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $48.67, for a total transaction of $333,000.14. Following the transaction, the executive vice president owned 11,994 shares of the company’s stock, valued at $583,747.98. This represents a 36.32% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Hsenghung Sam Hsu acquired 1,000 shares of the business’s stock in a transaction dated Thursday, October 16th. The shares were bought at an average cost of $42.45 per share, for a total transaction of $42,450.00. Following the transaction, the director directly owned 9,000 shares in the company, valued at approximately $382,050. This represents a 12.50% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders sold 90,178 shares of company stock worth $4,336,603 over the last quarter. Company insiders own 0.37% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Morgan Stanley set a $40.00 price objective on shares of Fastenal and gave the stock an “equal weight” rating in a research note on Thursday, July 3rd. Robert W. Baird reduced their price objective on shares of Fastenal from $53.00 to $49.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 14th. Wolfe Research reaffirmed a “positive” rating on shares of Fastenal in a research note on Monday, July 14th. Stephens upped their price objective on shares of Fastenal from $40.00 to $45.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 15th. Finally, Loop Capital reaffirmed a “hold” rating on shares of Fastenal in a research note on Tuesday, July 15th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Fastenal presently has a consensus rating of “Hold” and an average target price of $46.50.

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.