Fastenal Company $FAST Shares Acquired by Cynosure Group LLC

Cynosure Group LLC lifted its holdings in shares of Fastenal Company (NASDAQ:FAST) by 100.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 9,624 shares of the company’s stock after purchasing an additional 4,812 shares during the quarter. Cynosure Group LLC’s holdings in Fastenal were worth $404,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. 1248 Management LLC purchased a new position in Fastenal during the first quarter worth about $36,000. Riverview Trust Co lifted its holdings in shares of Fastenal by 100.0% in the 2nd quarter. Riverview Trust Co now owns 584 shares of the company’s stock worth $25,000 after acquiring an additional 292 shares during the last quarter. Zions Bancorporation National Association UT purchased a new position in shares of Fastenal during the 1st quarter worth approximately $49,000. Private Wealth Management Group LLC boosted its position in shares of 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 during the period. Finally, Hilltop National Bank acquired a new stake in Fastenal in the 2nd quarter valued at approximately $27,000. 81.38% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have commented on FAST shares. Sanford C. Bernstein began coverage on Fastenal in a research note on Tuesday, November 11th. They set an “underperform” rating and a $38.00 price target on the stock. Weiss Ratings reiterated a “buy (b)” rating on shares of Fastenal in a report on Wednesday, October 8th. JPMorgan Chase & Co. increased their target price on Fastenal from $41.00 to $46.00 and gave the stock a “neutral” rating in a research note on Thursday, September 4th. Northcoast Research initiated coverage on Fastenal in a research report on Thursday, August 21st. They issued a “neutral” rating for the company. Finally, Baird R W upgraded shares of Fastenal from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, Fastenal has a consensus rating of “Hold” and a consensus target price of $46.32.

Insiders Place Their Bets

In other news, Director Hsenghung Sam Hsu bought 1,000 shares of the stock in a transaction that occurred on Thursday, November 13th. The stock was purchased at an average price of $49.58 per share, for a total transaction of $49,580.00. Following the completion of the purchase, the director owned 10,000 shares in the company, valued at approximately $495,800. This trade represents a 11.11% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Sarah N. Nielsen purchased 1,000 shares of the business’s stock in a transaction on Wednesday, November 19th. The stock was acquired at an average price of $39.60 per share, for a total transaction of $39,600.00. Following the completion of the purchase, the director owned 5,000 shares of the company’s stock, valued at $198,000. This represents a 25.00% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders have purchased 3,000 shares of company stock valued at $131,630. Insiders own 0.37% of the company’s stock.

Fastenal Price Performance

FAST stock opened at $39.59 on Tuesday. The business’s 50-day moving average is $43.76 and its two-hundred day moving average is $44.41. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.26 and a quick ratio of 2.19. The firm has a market capitalization of $45.45 billion, a P/E ratio of 37.00, a P/E/G ratio of 3.75 and a beta of 0.92. Fastenal Company has a 1 year low of $35.31 and a 1 year high of $50.63.

Fastenal (NASDAQ:FAST) last released its earnings results on Tuesday, October 14th. The company reported $0.29 earnings per share 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 firm had revenue of $2.13 billion for the quarter, compared to analysts’ expectations of $2.13 billion. During the same quarter in the previous year, the company posted $0.26 earnings per share. The firm’s quarterly revenue was up 11.7% on a year-over-year basis. Analysts anticipate that Fastenal Company will post 2.15 earnings per share for the current fiscal year.

Fastenal Announces Dividend

The company 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 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend is Tuesday, October 28th. Fastenal’s payout ratio is 82.24%.

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.