TCM Advisors LLC Has $900,000 Stock Position in Fastenal Company $FAST

TCM Advisors LLC trimmed its holdings in shares of Fastenal Company (NASDAQ:FAST) by 14.7% during the 1st quarter, Holdings Channel reports. The institutional investor owned 11,600 shares of the company’s stock after selling 2,000 shares during the period. TCM Advisors LLC’s holdings in Fastenal were worth $900,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. raised its position in Fastenal by 8.9% during the first quarter. Charles Schwab Investment Management Inc. now owns 22,615,915 shares of the company’s stock valued at $1,753,864,000 after buying an additional 1,850,871 shares during the period. Picton Mahoney Asset Management grew its stake in Fastenal by 7.5% in the first quarter. Picton Mahoney Asset Management now owns 181,482 shares of the company’s stock valued at $14,074,000 after purchasing an additional 12,721 shares in the last quarter. KLP Kapitalforvaltning AS raised its stake in shares of Fastenal by 3.9% during the 1st quarter. KLP Kapitalforvaltning AS now owns 195,748 shares of the company’s stock worth $15,180,000 after purchasing an additional 7,400 shares in the last quarter. Raiffeisen Bank International AG raised its stake in shares of Fastenal by 21.5% during the 1st quarter. Raiffeisen Bank International AG now owns 35,606 shares of the company’s stock worth $2,712,000 after purchasing an additional 6,303 shares in the last quarter. Finally, Deutsche Bank AG lifted its holdings in shares of Fastenal by 23.9% during the 1st quarter. Deutsche Bank AG now owns 2,459,124 shares of the company’s stock valued at $190,705,000 after buying an additional 473,987 shares during the last quarter. 81.38% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, EVP William Joseph Drazkowski sold 6,842 shares of the stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $48.67, for a total transaction of $333,000.14. Following the completion of the sale, 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 Securities & Exchange Commission, which is available through this link. Also, EVP John Lewis Soderberg sold 34,612 shares of the stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $48.03, for a total value of $1,662,414.36. The disclosure for this sale can be found here. Insiders have sold 111,230 shares of company stock worth $5,288,364 in the last 90 days. 0.37% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on FAST. Stephens lifted their price target on Fastenal from $40.00 to $45.00 and gave the company an “equal weight” rating in a report on Tuesday, July 15th. Baird R W upgraded Fastenal from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 7th. Robert W. Baird upgraded Fastenal from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $47.00 to $55.00 in a report on Thursday, August 7th. JPMorgan Chase & Co. lifted their price target on Fastenal from $38.00 to $41.00 and gave the company a “neutral” rating in a report on Tuesday, July 15th. Finally, Wolfe Research reiterated a “positive” rating on shares of Fastenal in a report on Monday, July 14th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Fastenal presently has an average rating of “Hold” and a consensus price target of $46.36.

Fastenal Stock Performance

FAST opened at $49.96 on Wednesday. The company has a market cap of $57.34 billion, a PE ratio of 48.04, a price-to-earnings-growth ratio of 4.58 and a beta of 0.95. The stock has a 50-day moving average of $45.59 and a 200-day moving average of $41.53. Fastenal Company has a 52-week low of $32.04 and a 52-week high of $50.63. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.12 and a current ratio of 4.22.

Fastenal (NASDAQ:FAST) last released its quarterly earnings results on Monday, July 14th. The company reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.01. The company had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $2.07 billion. Fastenal had a return on equity of 32.33% and a net margin of 15.30%.The firm’s revenue was up 8.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.25 EPS. As a group, equities research analysts forecast that Fastenal Company will post 2.15 earnings per share for the current fiscal year.

Fastenal Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 26th. Investors of record on Tuesday, July 29th were paid a dividend of $0.22 per share. The ex-dividend date was Tuesday, July 29th. This represents a $0.88 annualized dividend and a yield of 1.8%. Fastenal’s dividend payout ratio is presently 84.62%.

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.