PAX Financial Group LLC Purchases 3,296 Shares of Fastenal Company $FAST

PAX Financial Group LLC increased its holdings in shares of Fastenal Company (NASDAQ:FAST) by 108.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 6,348 shares of the company’s stock after buying an additional 3,296 shares during the quarter. PAX Financial Group LLC’s holdings in Fastenal were worth $267,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in FAST. Riverview Trust Co raised its position 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 purchasing an additional 292 shares during the period. Hilltop National Bank acquired a new position in shares of Fastenal in the 2nd quarter valued at approximately $27,000. Private Wealth Management Group LLC increased its stake in Fastenal by 111.9% during the 2nd quarter. Private Wealth Management Group LLC now owns 642 shares of the company’s stock worth $27,000 after purchasing an additional 339 shares in the last quarter. Armstrong Advisory Group Inc. raised its holdings in Fastenal by 100.0% during the 2nd quarter. Armstrong Advisory Group Inc. now owns 696 shares of the company’s stock worth $29,000 after buying an additional 348 shares during the period. Finally, AdvisorNet Financial Inc raised its holdings in Fastenal by 95.0% during the 2nd quarter. AdvisorNet Financial Inc now owns 702 shares of the company’s stock worth $29,000 after buying an additional 342 shares during the period. 81.38% of the stock is owned by institutional investors and hedge funds.

Fastenal Stock Down 1.9%

Shares of FAST stock opened at $39.70 on Tuesday. The firm’s fifty day moving average price is $44.57 and its two-hundred day moving average price is $44.43. The company has a current ratio of 4.26, a quick ratio of 2.19 and a debt-to-equity ratio of 0.03. Fastenal Company has a 1 year low of $35.31 and a 1 year high of $50.63. The firm has a market capitalization of $45.58 billion, a P/E ratio of 37.10, a PEG ratio of 3.75 and a beta of 0.92.

Fastenal (NASDAQ:FAST) last posted its quarterly earnings data on Tuesday, October 14th. The company reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.01). The business had revenue of $2.13 billion for the quarter, compared to analyst estimates of $2.13 billion. Fastenal had a return on equity of 32.69% and a net margin of 15.34%.The company’s quarterly revenue was up 11.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.26 earnings per share. On average, equities analysts predict that Fastenal Company will post 2.15 EPS for the current fiscal year.

Fastenal Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 25th. Shareholders of record on Tuesday, October 28th will be given a dividend of $0.22 per share. The ex-dividend date of this dividend is Tuesday, October 28th. This represents a $0.88 annualized dividend and a dividend yield of 2.2%. Fastenal’s payout ratio is 82.24%.

Insider Activity

In related news, Director Hsenghung Sam Hsu acquired 1,000 shares of the business’s stock in a transaction dated Thursday, November 13th. The stock was bought at an average price of $49.58 per share, with a total value of $49,580.00. Following the acquisition, the director owned 10,000 shares in the company, valued at $495,800. This represents a 11.11% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.37% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on FAST shares. Wolfe Research upgraded shares of Fastenal from an “underperform” rating to a “peer perform” rating and set a $43.00 price target for the company in a report on Thursday, November 13th. 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 research report on Tuesday, October 14th. Baird R W raised shares of Fastenal from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 7th. Sanford C. Bernstein began coverage on Fastenal in a research note on Tuesday, November 11th. They issued an “underperform” rating and a $38.00 price target on the stock. Finally, JPMorgan Chase & Co. boosted their price target on Fastenal from $41.00 to $46.00 and gave the company a “neutral” rating in a report on Thursday, September 4th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $46.32.

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.