Fastenal Company $FAST Shares Acquired by Flagship Harbor Advisors LLC

Flagship Harbor Advisors LLC boosted its holdings in shares of Fastenal Company (NASDAQ:FAST) by 93.2% in the 2nd quarter, Holdings Channel reports. The firm owned 9,939 shares of the company’s stock after buying an additional 4,795 shares during the period. Flagship Harbor Advisors LLC’s holdings in Fastenal were worth $417,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. 1248 Management LLC purchased a new stake in shares of Fastenal in the 1st quarter valued at approximately $36,000. Riverview Trust Co lifted its position in shares of Fastenal by 100.0% in the 2nd quarter. Riverview Trust Co now owns 584 shares of the company’s stock valued at $25,000 after acquiring an additional 292 shares in the last quarter. Zions Bancorporation National Association UT purchased a new stake in shares of Fastenal in the 1st quarter valued at approximately $49,000. Private Wealth Management Group LLC lifted its position in shares of Fastenal by 111.9% in the 2nd quarter. Private Wealth Management Group LLC now owns 642 shares of the company’s stock valued at $27,000 after acquiring an additional 339 shares in the last quarter. Finally, Hilltop National Bank purchased a new stake in shares of Fastenal in the 2nd quarter valued at approximately $27,000. Hedge funds and other institutional investors own 81.38% of the company’s stock.

Insider Buying and Selling at Fastenal

In other news, EVP William Joseph Drazkowski sold 6,842 shares of the 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 transaction, the executive vice president owned 11,994 shares in the company, valued at $583,747.98. This represents a 36.32% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Hsenghung Sam Hsu purchased 1,000 shares of the company’s stock in a transaction dated Thursday, October 16th. The shares were acquired at an average price of $42.45 per share, for a total transaction of $42,450.00. Following the purchase, the director owned 9,000 shares in the company, valued at $382,050. The trade was a 12.50% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last 90 days, insiders have sold 90,178 shares of company stock worth $4,336,603. Company insiders own 0.37% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on FAST. Weiss Ratings restated a “buy (b)” rating on shares of Fastenal in a research report on Wednesday, October 8th. Loop Capital restated a “hold” rating on shares of Fastenal in a research report on Tuesday, July 15th. Wolfe Research restated a “positive” rating on shares of Fastenal in a research report on Monday, July 14th. Baird R W upgraded shares of Fastenal from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 7th. Finally, Stephens increased their target price on shares of Fastenal from $40.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $46.50.

Fastenal Stock Down 1.0%

FAST stock opened at $41.15 on Friday. 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 has a market cap of $47.24 billion, a price-to-earnings ratio of 38.46, a PEG ratio of 3.75 and a beta of 0.94. The company has a 50 day moving average of $46.47 and a two-hundred day moving average of $44.34.

Fastenal (NASDAQ:FAST) last released its earnings results on Monday, October 13th. The company reported $0.29 earnings per share (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 during the quarter, compared to analysts’ expectations of $2.13 billion. During the same quarter in the previous year, the company earned $0.26 EPS. The firm’s quarterly revenue was up 11.7% compared to the same quarter last year. On average, equities analysts anticipate that Fastenal Company will post 2.15 earnings per share for the current fiscal year.

Fastenal Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 25th. Stockholders of record on Tuesday, October 28th will be paid 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 dividend payout ratio is 82.24%.

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.