Stephens Investment Management Group LLC Acquires 211,565 Shares of Fastenal Company $FAST

Stephens Investment Management Group LLC lifted its holdings in Fastenal Company (NASDAQ:FAST) by 88.0% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 451,992 shares of the company’s stock after acquiring an additional 211,565 shares during the quarter. Stephens Investment Management Group LLC’s holdings in Fastenal were worth $18,984,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. 1248 Management LLC bought a new stake in Fastenal during the 1st quarter valued at $36,000. Horizon Financial Services LLC raised its holdings in Fastenal by 5,330.0% during the 1st quarter. Horizon Financial Services LLC now owns 543 shares of the company’s stock valued at $42,000 after buying an additional 533 shares during the last quarter. Riverview Trust Co raised its holdings in Fastenal by 100.0% during the 2nd quarter. Riverview Trust Co now owns 584 shares of the company’s stock valued at $25,000 after buying an additional 292 shares during the last quarter. Zions Bancorporation National Association UT bought a new stake in shares of Fastenal in the first quarter worth about $49,000. Finally, Private Wealth Management Group LLC increased its holdings in Fastenal by 111.9% during the 2nd quarter. Private Wealth Management Group LLC now owns 642 shares of the company’s stock valued at $27,000 after purchasing an additional 339 shares during the period. 81.38% of the stock is currently owned by institutional investors.

Fastenal Stock Down 1.7%

Shares of Fastenal stock opened at $42.60 on Thursday. Fastenal Company has a 1 year low of $35.31 and a 1 year high of $50.63. The company has a 50-day moving average of $47.50 and a 200 day moving average of $44.09. The firm has a market cap of $48.91 billion, a price-to-earnings ratio of 39.81, a PEG ratio of 3.95 and a beta of 0.94. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.26 and a quick ratio of 2.19.

Fastenal (NASDAQ:FAST) last announced its quarterly earnings data on Monday, October 13th. The company reported $0.29 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.01). Fastenal had a net margin of 15.34% and a return on equity of 32.69%. The firm had revenue of $2.13 billion for the quarter, compared to analysts’ expectations of $2.13 billion. During the same period last year, the company posted $0.26 earnings per share. The business’s revenue for the quarter was up 11.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Fastenal Company will post 2.15 earnings per share for the current fiscal year.

Fastenal Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 25th. Investors of record on Tuesday, October 28th will be given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend is Tuesday, October 28th. Fastenal’s dividend payout ratio is 82.24%.

Analyst Ratings Changes

A number of research analysts have commented on FAST shares. Robert W. Baird lowered their price target on Fastenal from $53.00 to $49.00 and set an “outperform” rating for the company in a research report on Tuesday, October 14th. Morgan Stanley set a $40.00 price target on Fastenal and gave the company an “equal weight” rating in a research report on Thursday, July 3rd. 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 report on Thursday, September 4th. Stephens upped their price target on Fastenal from $40.00 to $45.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 15th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Fastenal in a report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, nine have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Fastenal presently has an average rating of “Hold” and an average price target of $46.50.

Insider Activity at Fastenal

In other news, EVP John Lewis Soderberg sold 34,612 shares of the firm’s stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $48.03, for a total transaction of $1,662,414.36. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Jeffery Michael Watts sold 48,724 shares of the firm’s stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $48.05, for a total transaction of $2,341,188.20. Following the sale, the insider directly owned 11,880 shares in the company, valued at approximately $570,834. The trade was a 80.40% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 90,178 shares of company stock worth $4,336,603. 0.37% of the stock is owned by insiders.

Fastenal Company 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.