OneDigital Investment Advisors LLC Acquires Shares of 31,299 Fastenal Company $FAST

OneDigital Investment Advisors LLC acquired a new position in Fastenal Company (NASDAQ:FAST) during the second quarter, HoldingsChannel reports. The fund acquired 31,299 shares of the company’s stock, valued at approximately $1,503,000.

Several other large investors also recently made changes to their positions in the business. Plato Investment Management Ltd acquired a new stake in shares of Fastenal in the second quarter valued at $1,156,000. Bell Investment Advisors Inc acquired a new position in Fastenal during the 2nd quarter worth about $44,000. AMG National Trust Bank acquired a new position in Fastenal during the 2nd quarter worth about $284,000. Compass Capital Management Inc. bought a new stake in Fastenal during the 2nd quarter worth about $58,774,000. Finally, Simplicity Wealth LLC bought a new stake in Fastenal during the 2nd quarter worth about $211,000. Institutional investors own 81.38% of the company’s stock.

Wall Street Analyst Weigh In

FAST has been the subject of several research reports. DA Davidson restated a “neutral” rating and issued a $46.00 price objective on shares of Fastenal in a research report on Wednesday, July 15th. Morgan Stanley increased their price target on shares of Fastenal from $48.00 to $52.00 and gave the company an “equal weight” rating in a research note on Thursday, July 16th. Rothschild & Co Redburn set a $55.00 price target on shares of Fastenal and gave the company a “buy” rating in a report on Monday, July 13th. Jefferies Financial Group reissued a “buy” rating on shares of Fastenal in a report on Thursday, June 4th. Finally, Wolfe Research restated an “underperform” rating and issued a $47.00 price objective on shares of Fastenal in a research report on Thursday, July 9th. Five equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $49.17.

Insider Buying and Selling

In other Fastenal news, Director Michael J. Ancius sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $49.00, for a total value of $147,000.00. Following the completion of the sale, the director owned 58,690 shares of the company’s stock, valued at approximately $2,875,810. This represents a 4.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Rita J. Heise sold 34,964 shares of the stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $50.05, for a total transaction of $1,749,948.20. Following the completion of the sale, the director owned 20,000 shares in the company, valued at approximately $1,001,000. This trade represents a 63.61% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.28% of the stock is currently owned by insiders.

Fastenal Price Performance

Fastenal stock opened at $51.23 on Tuesday. The business’s 50-day simple moving average is $47.58 and its 200 day simple moving average is $46.17. The company has a quick ratio of 2.21, a current ratio of 4.18 and a debt-to-equity ratio of 0.01. The stock has a market cap of $58.79 billion, a price-to-earnings ratio of 43.42, a P/E/G ratio of 3.18 and a beta of 0.72. Fastenal Company has a 12-month low of $38.97 and a 12-month high of $52.92.

Fastenal (NASDAQ:FAST) last posted its quarterly earnings results on Tuesday, July 14th. The company reported $0.33 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.33. The business had revenue of $2.39 billion during the quarter, compared to the consensus estimate of $2.34 billion. Fastenal had a net margin of 15.45% and a return on equity of 34.03%. Fastenal’s revenue for the quarter was up 14.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.29 earnings per share. As a group, research analysts anticipate that Fastenal Company will post 1.26 earnings per share for the current year.

Fastenal Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 25th. Investors of record on Tuesday, July 28th will be paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend is Tuesday, July 28th. This is a positive change from Fastenal’s previous quarterly dividend of $0.24. Fastenal’s payout ratio is 88.14%.

Fastenal Profile

Fastenal (NASDAQ: FAST) is a wholesale distributor of industrial and construction supplies, best known for its broad assortment of fasteners such as bolts, nuts, screws and anchors. Founded in Winona, Minnesota, Fastenal has grown from a regional supplier into a national and international distributor serving a wide range of end markets, including manufacturing, construction, maintenance, repair and operations (MRO), and government customers. The company is publicly traded and operates through a network of locally staffed branches combined with national distribution capabilities.

Product offerings extend beyond fasteners to include tools, safety and personal protective equipment, power transmission components, cutting and welding supplies, janitorial and material handling items, and other industrial consumables.