JFS Wealth Advisors LLC Boosts Holdings in Fastenal Company $FAST

JFS Wealth Advisors LLC boosted its position in shares of Fastenal Company (NASDAQ:FAST) by 169.3% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 762 shares of the company’s stock after buying an additional 479 shares during the quarter. JFS Wealth Advisors LLC’s holdings in Fastenal were worth $32,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Riverview Trust Co lifted its position 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 purchasing an additional 292 shares during the last quarter. Hilltop National Bank bought a new stake in shares of Fastenal during the second quarter worth $27,000. Armstrong Advisory Group Inc. lifted its position in shares of Fastenal by 100.0% during the second quarter. Armstrong Advisory Group Inc. now owns 696 shares of the company’s stock worth $29,000 after purchasing an additional 348 shares during the last quarter. AdvisorNet Financial Inc lifted its position in shares of Fastenal by 95.0% during the second quarter. AdvisorNet Financial Inc now owns 702 shares of the company’s stock worth $29,000 after purchasing an additional 342 shares during the last quarter. Finally, Clean Yield Group lifted its position in shares of Fastenal by 100.0% during the second quarter. Clean Yield Group now owns 696 shares of the company’s stock worth $29,000 after purchasing an additional 348 shares during the last quarter. 81.38% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Fastenal news, EVP William Joseph Drazkowski sold 6,842 shares of Fastenal stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $48.67, for a total value of $333,000.14. Following the transaction, the executive vice president owned 11,994 shares in the company, valued at $583,747.98. The trade was a 36.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Sheryl Ann Lisowski sold 21,052 shares of Fastenal stock in a transaction dated Thursday, July 17th. The shares were 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 owned 10,192 shares in the company, valued at $460,780.32. This trade represents a 67.38% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 111,230 shares of company stock worth $5,288,364 over the last ninety days. 0.37% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

FAST has been the subject of several research analyst reports. Northcoast Research initiated coverage on Fastenal in a research report on Thursday, August 21st. They set a “neutral” rating for the company. Wolfe Research reaffirmed a “positive” rating on shares of Fastenal in a research note on Monday, July 14th. Loop Capital reaffirmed a “hold” rating on shares of Fastenal in a research note on Tuesday, July 15th. Morgan Stanley set a $40.00 price objective on shares of Fastenal and gave the stock an “equal weight” rating in a research note on Thursday, July 3rd. Finally, Stephens upped their price objective on shares of Fastenal from $40.00 to $45.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $47.41.

Fastenal Price Performance

FAST opened at $45.78 on Monday. The business’s 50-day moving average is $48.26 and its two-hundred day moving average is $43.94. Fastenal Company has a 1 year low of $35.31 and a 1 year high of $50.63. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.22 and a quick ratio of 2.12. The firm has a market capitalization of $52.54 billion, a PE ratio of 44.02, a price-to-earnings-growth ratio of 4.15 and a beta of 0.94.

Fastenal (NASDAQ:FAST) last posted its earnings results 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 company had revenue of $2.08 billion for the quarter, compared to analyst estimates of $2.07 billion. During the same quarter in the previous year, the firm earned $0.25 earnings per share. The firm’s quarterly revenue was up 8.6% compared to the same quarter last year. Research analysts anticipate that Fastenal Company will post 2.15 earnings per share for the current fiscal year.

Fastenal Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 25th. Shareholders of record on Tuesday, October 28th will be paid a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 1.9%. Fastenal’s dividend payout ratio (DPR) 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.