Vontobel Holding Ltd. Has $1.29 Million Stake in Fastenal Company $FAST

Vontobel Holding Ltd. decreased its position in Fastenal Company (NASDAQ:FAST) by 11.6% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 30,762 shares of the company’s stock after selling 4,044 shares during the period. Vontobel Holding Ltd.’s holdings in Fastenal were worth $1,292,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Oregon Public Employees Retirement Fund boosted its stake in Fastenal by 0.3% in the first quarter. Oregon Public Employees Retirement Fund now owns 49,219 shares of the company’s stock valued at $3,817,000 after acquiring an additional 130 shares during the last quarter. Welch & Forbes LLC boosted its stake in Fastenal by 0.4% in the first quarter. Welch & Forbes LLC now owns 32,992 shares of the company’s stock valued at $2,559,000 after acquiring an additional 135 shares during the last quarter. Principal Securities Inc. boosted its stake in Fastenal by 0.9% in the first quarter. Principal Securities Inc. now owns 15,886 shares of the company’s stock valued at $1,142,000 after acquiring an additional 140 shares during the last quarter. Essex Financial Services Inc. boosted its stake in Fastenal by 1.7% in the first quarter. Essex Financial Services Inc. now owns 8,870 shares of the company’s stock valued at $688,000 after acquiring an additional 147 shares during the last quarter. Finally, Integrated Wealth Concepts LLC boosted its stake in Fastenal by 2.4% in the first quarter. Integrated Wealth Concepts LLC now owns 6,276 shares of the company’s stock valued at $487,000 after acquiring an additional 147 shares during the last quarter. Institutional investors and hedge funds own 81.38% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Loop Capital reiterated a “hold” rating on shares of Fastenal in a research note on Tuesday, July 15th. Wolfe Research restated a “positive” rating on shares of Fastenal in a research note on Monday, July 14th. JPMorgan Chase & Co. upped their price target 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. Barclays started coverage on shares of Fastenal in a research note on Tuesday, October 7th. They set a “positive” rating and a $49.00 price target on the stock. Finally, Stifel Nicolaus set a $82.00 price target on shares of Fastenal in a research note on Thursday, July 3rd. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $47.41.

Insider Activity

In other Fastenal news, EVP William Joseph Drazkowski sold 6,842 shares of the stock in a transaction that occurred 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 sale, the executive vice president directly owned 11,994 shares in the company, valued at $583,747.98. This represents a 36.32% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Sheryl Ann Lisowski sold 21,052 shares of the stock in a transaction that occurred on Thursday, July 17th. The stock was sold at an average price of $45.21, for a total transaction of $951,760.92. Following the completion of the sale, the chief financial officer owned 10,192 shares in the company, valued at $460,780.32. This represents a 67.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 111,230 shares of company stock valued at $5,288,364. 0.37% of the stock is owned by company insiders.

Fastenal Stock Performance

NASDAQ FAST opened at $45.78 on Monday. 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 stock has a market capitalization of $52.54 billion, a PE ratio of 44.02, a P/E/G ratio of 4.15 and a beta of 0.94. The company’s 50 day simple moving average is $48.26 and its two-hundred day simple moving average is $43.94.

Fastenal (NASDAQ:FAST) last posted its earnings results on Monday, July 14th. The company reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.01. Fastenal had a net margin of 15.30% and a return on equity of 32.33%. The business had revenue of $2.08 billion for the quarter, compared to analysts’ expectations of $2.07 billion. During the same period in the prior year, the company posted $0.25 EPS. The business’s revenue for the quarter was up 8.6% compared to the same quarter last year. Analysts predict that Fastenal Company will post 2.15 earnings per share for the current fiscal year.

Fastenal Dividend Announcement

The company 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 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.