Fastenal Company $FAST Stock Holdings Lifted by American National Bank & Trust

American National Bank & Trust lifted its position in Fastenal Company (NASDAQ:FAST) by 89.5% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 40,536 shares of the company’s stock after acquiring an additional 19,143 shares during the quarter. American National Bank & Trust’s holdings in Fastenal were worth $1,703,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Brighton Jones LLC acquired a new stake in Fastenal during the 4th quarter valued at $496,000. NorthCrest Asset Manangement LLC raised its position in Fastenal by 4.7% during the fourth quarter. NorthCrest Asset Manangement LLC now owns 8,567 shares of the company’s stock valued at $616,000 after buying an additional 382 shares during the period. Wealth Enhancement Advisory Services LLC lifted its stake in Fastenal by 40.0% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 234,623 shares of the company’s stock worth $16,872,000 after acquiring an additional 66,991 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its stake in Fastenal by 33.2% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 3,330 shares of the company’s stock worth $258,000 after acquiring an additional 830 shares in the last quarter. Finally, First Hawaiian Bank boosted its position in Fastenal by 1.0% during the 1st quarter. First Hawaiian Bank now owns 19,259 shares of the company’s stock worth $1,494,000 after acquiring an additional 191 shares during the period. 81.38% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Fastenal

In related news, CFO Sheryl Ann Lisowski sold 21,052 shares of Fastenal stock in a transaction dated Thursday, July 17th. The stock was sold at an average price of $45.21, for a total transaction of $951,760.92. Following the sale, the chief financial officer directly owned 10,192 shares of the company’s stock, valued at $460,780.32. This trade represents a 67.38% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jeffery Michael Watts sold 48,724 shares of the business’s stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $48.05, for a total value of $2,341,188.20. Following the transaction, the insider owned 11,880 shares in the company, valued at $570,834. This represents a 80.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 111,230 shares of company stock worth $5,288,364 in the last three months. Corporate insiders own 0.37% of the company’s stock.

Fastenal Trading Up 0.7%

Shares of FAST stock opened at $47.85 on Friday. Fastenal Company has a 12 month low of $34.69 and a 12 month high of $50.63. The company has a market cap of $54.91 billion, a PE ratio of 46.01, a price-to-earnings-growth ratio of 4.32 and a beta of 0.97. The company has a quick ratio of 2.12, a current ratio of 4.22 and a debt-to-equity ratio of 0.03. The business’s 50 day moving average is $48.02 and its two-hundred day moving average is $43.12.

Fastenal (NASDAQ:FAST) last posted its quarterly earnings data 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 business had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $2.07 billion. Fastenal had a net margin of 15.30% and a return on equity of 32.33%. Fastenal’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.25 EPS. Equities analysts predict that Fastenal Company will post 2.15 EPS for the current year.

Fastenal Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 26th. Stockholders of record on Tuesday, July 29th were given a dividend of $0.22 per share. The ex-dividend date of this dividend was Tuesday, July 29th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.8%. Fastenal’s dividend payout ratio is currently 84.62%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on FAST. JPMorgan Chase & Co. upped their target price on Fastenal from $41.00 to $46.00 and gave the company a “neutral” rating in a report on Thursday, September 4th. Baird R W raised Fastenal from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 7th. Morgan Stanley set a $40.00 price objective on shares of Fastenal and gave the company an “equal weight” rating in a research report on Thursday, July 3rd. Robert W. Baird raised shares of Fastenal from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $47.00 to $55.00 in a research report on Thursday, August 7th. Finally, Northcoast Research assumed coverage on shares of Fastenal in a research note on Thursday, August 21st. They set a “neutral” rating on the stock. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Fastenal currently has a consensus rating of “Hold” and a consensus target price of $46.82.

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.