Windward Private Wealth Management Inc. Has $252,000 Stock Position in Fastenal Company $FAST

Windward Private Wealth Management Inc. boosted its position in shares of Fastenal Company (NASDAQ:FAST) by 100.0% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 6,000 shares of the company’s stock after purchasing an additional 3,000 shares during the quarter. Windward Private Wealth Management Inc.’s holdings in Fastenal were worth $252,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in FAST. Charles Schwab Investment Management Inc. raised its holdings in Fastenal by 8.9% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 22,615,915 shares of the company’s stock worth $1,753,864,000 after purchasing an additional 1,850,871 shares during the last quarter. Congress Asset Management Co. bought a new stake in Fastenal during the 2nd quarter worth about $73,733,000. Confluence Investment Management LLC raised its holdings in Fastenal by 97.5% during the 2nd quarter. Confluence Investment Management LLC now owns 3,280,009 shares of the company’s stock worth $137,760,000 after purchasing an additional 1,619,507 shares during the last quarter. Nuveen LLC bought a new stake in Fastenal during the 1st quarter worth about $119,136,000. Finally, Champlain Investment Partners LLC raised its holdings in Fastenal by 266.4% during the 1st quarter. Champlain Investment Partners LLC now owns 1,824,055 shares of the company’s stock worth $141,455,000 after purchasing an additional 1,326,260 shares during the last quarter. 81.38% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, CFO Sheryl Ann Lisowski sold 21,052 shares of the business’s stock in a transaction that occurred on Thursday, July 17th. The stock was sold at an average price of $45.21, for a total value of $951,760.92. Following the completion of the transaction, the chief financial officer directly owned 10,192 shares in the company, valued at approximately $460,780.32. The trade was a 67.38% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP John Lewis Soderberg sold 34,612 shares of the company’s stock in a transaction that occurred on Friday, August 8th. The stock was 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 a total of 111,230 shares of company stock valued at $5,288,364 over the last 90 days. 0.37% of the stock is owned by company insiders.

Fastenal Price Performance

Shares of FAST opened at $47.88 on Friday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.12 and a current ratio of 4.22. The stock has a 50 day simple moving average of $48.18 and a 200 day simple moving average of $43.56. Fastenal Company has a 52-week low of $34.69 and a 52-week high of $50.63. The firm has a market capitalization of $54.95 billion, a PE ratio of 46.04, a P/E/G ratio of 4.37 and a beta of 0.94.

Fastenal (NASDAQ:FAST) last issued its quarterly earnings data on Monday, July 14th. The company reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.01. Fastenal had a return on equity of 32.33% and a net margin of 15.30%.The business had revenue of $2.08 billion during the quarter, compared to analyst estimates of $2.07 billion. During the same period in the previous year, the firm earned $0.25 EPS. Fastenal’s quarterly revenue was up 8.6% compared to the same quarter last year. Sell-side analysts predict that Fastenal Company will post 2.15 EPS for the current fiscal year.

Fastenal Cuts Dividend

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

Analysts Set New Price Targets

FAST has been the subject of several recent research reports. Wolfe Research reissued a “positive” rating on shares of Fastenal in a report on Monday, July 14th. JPMorgan Chase & Co. boosted their price objective on Fastenal from $41.00 to $46.00 and gave the stock a “neutral” rating in a report on Thursday, September 4th. Stifel Nicolaus set a $82.00 price target on Fastenal in a research note on Thursday, July 3rd. Baird R W raised Fastenal from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 7th. Finally, Loop Capital reaffirmed a “hold” rating on shares of Fastenal in a research note on Tuesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $46.82.

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.