Fastenal Company $FAST Stock Holdings Lifted by Godsey & Gibb Inc.

Godsey & Gibb Inc. lifted its position in Fastenal Company (NASDAQ:FAST) by 96.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 588,833 shares of the company’s stock after acquiring an additional 288,596 shares during the period. Fastenal comprises approximately 2.3% of Godsey & Gibb Inc.’s holdings, making the stock its 16th largest position. Godsey & Gibb Inc.’s holdings in Fastenal were worth $24,731,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in FAST. Riverview Trust Co raised its holdings in shares of Fastenal by 100.0% during the second quarter. Riverview Trust Co now owns 584 shares of the company’s stock worth $25,000 after acquiring an additional 292 shares in the last quarter. Hilltop National Bank bought a new stake in shares of Fastenal in the second quarter valued at approximately $27,000. Armstrong Advisory Group Inc. increased its stake in Fastenal by 100.0% during the second quarter. Armstrong Advisory Group Inc. now owns 696 shares of the company’s stock valued at $29,000 after acquiring an additional 348 shares during the period. AdvisorNet Financial Inc raised its stake in shares of Fastenal by 95.0% in the 2nd quarter. AdvisorNet Financial Inc now owns 702 shares of the company’s stock valued at $29,000 after buying an additional 342 shares in the last quarter. Finally, Clean Yield Group grew its position in Fastenal by 100.0% in the second quarter. Clean Yield Group now owns 696 shares of the company’s stock valued at $29,000 after acquiring an additional 348 shares during the period. Institutional investors and hedge funds own 81.38% of the company’s stock.

Fastenal Stock Performance

NASDAQ:FAST opened at $47.78 on Tuesday. 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 firm has a market capitalization of $54.83 billion, a PE ratio of 45.94, a price-to-earnings-growth ratio of 4.34 and a beta of 0.94. Fastenal Company has a twelve month low of $34.69 and a twelve month high of $50.63. The stock’s 50-day simple moving average is $48.20 and its 200 day simple moving average is $43.71.

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

Fastenal Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 26th. Stockholders of record on Tuesday, July 29th were issued a dividend of $0.22 per share. 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%.

Insider Transactions at Fastenal

In other Fastenal news, EVP John Lewis Soderberg sold 34,612 shares of the firm’s stock in a transaction 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 transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP William Joseph Drazkowski sold 6,842 shares of the stock in a transaction on Friday, August 15th. The shares were sold at an average price of $48.67, for a total value of $333,000.14. Following the completion of the sale, the executive vice president directly owned 11,994 shares of the company’s stock, valued at $583,747.98. The trade was a 36.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 111,230 shares of company stock valued at $5,288,364 over the last ninety days. Company insiders own 0.37% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on FAST shares. JPMorgan Chase & Co. upped their price target on Fastenal from $41.00 to $46.00 and gave the company a “neutral” rating in a research note on Thursday, September 4th. Weiss Ratings reiterated a “buy (b)” rating on shares of Fastenal in a report on Saturday, September 27th. Northcoast Research began coverage on Fastenal in a research report on Thursday, August 21st. They set a “neutral” rating for the company. Wolfe Research reissued a “positive” rating on shares of Fastenal in a research report on Monday, July 14th. Finally, Stephens upped their target price on Fastenal from $40.00 to $45.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $47.25.

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.