Berger Financial Group Inc Has $653,000 Stock Position in Fastenal Company $FAST

Berger Financial Group Inc boosted its stake in shares of Fastenal Company (NASDAQ:FAST) by 74.5% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 15,541 shares of the company’s stock after purchasing an additional 6,635 shares during the period. Berger Financial Group Inc’s holdings in Fastenal were worth $653,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently made changes to their positions in the stock. 1248 Management LLC acquired a new stake in shares of Fastenal in the 1st quarter valued at approximately $36,000. Horizon Financial Services LLC lifted its stake in Fastenal by 5,330.0% in the first quarter. Horizon Financial Services LLC now owns 543 shares of the company’s stock valued at $42,000 after acquiring an additional 533 shares during the last quarter. Riverview Trust Co grew its position in shares of Fastenal by 100.0% in the 2nd quarter. Riverview Trust Co now owns 584 shares of the company’s stock valued at $25,000 after acquiring an additional 292 shares during the period. Zions Bancorporation National Association UT bought a new position in shares of Fastenal in the 1st quarter valued at about $49,000. Finally, Hilltop National Bank acquired a new position in shares of Fastenal during the 2nd quarter worth about $27,000. Institutional investors and hedge funds own 81.38% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. JPMorgan Chase & Co. raised their target price on shares of Fastenal from $41.00 to $46.00 and gave the company a “neutral” rating in a research note on Thursday, September 4th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Fastenal in a research report on Saturday, September 27th. Northcoast Research began coverage on Fastenal in a report on Thursday, August 21st. They set a “neutral” rating on the stock. Baird R W raised Fastenal from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 7th. Finally, Wolfe Research reiterated a “positive” rating on shares of Fastenal in a report on Monday, July 14th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $46.82.

Insiders Place Their Bets

In other Fastenal news, insider Jeffery Michael Watts sold 48,724 shares of the business’s stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $48.05, for a total transaction of $2,341,188.20. Following the completion of the transaction, the insider owned 11,880 shares of the company’s stock, valued at approximately $570,834. The trade was a 80.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP William Joseph Drazkowski sold 6,842 shares of Fastenal stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $48.67, for a total transaction of $333,000.14. Following the sale, the executive vice president directly owned 11,994 shares in the company, valued at $583,747.98. This trade represents a 36.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 111,230 shares of company stock worth $5,288,364. Insiders own 0.37% of the company’s stock.

Fastenal Stock Performance

NASDAQ FAST opened at $47.88 on Monday. The firm’s 50 day simple moving average is $48.18 and its 200 day simple moving average is $43.64. The firm has a market capitalization of $54.95 billion, a price-to-earnings ratio of 46.04, a P/E/G ratio of 4.34 and a beta of 0.94. The company has a current ratio of 4.22, a quick ratio of 2.12 and a debt-to-equity ratio of 0.03. Fastenal Company has a 1 year low of $34.69 and a 1 year high of $50.63.

Fastenal (NASDAQ:FAST) last announced its quarterly earnings data on Monday, July 14th. The company reported $0.29 EPS for the quarter, beating 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%. The company’s revenue was up 8.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.25 earnings per share. As a group, research analysts expect that Fastenal Company will post 2.15 earnings per share 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 paid a $0.22 dividend. The ex-dividend date of this dividend was Tuesday, July 29th. This represents a $0.88 annualized dividend and a yield of 1.8%. Fastenal’s dividend payout ratio (DPR) is 84.62%.

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.