Ashton Thomas Private Wealth LLC Acquires 33,772 Shares of Fastenal Company $FAST

Ashton Thomas Private Wealth LLC raised its holdings in Fastenal Company (NASDAQ:FAST) by 126.1% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 60,562 shares of the company’s stock after buying an additional 33,772 shares during the quarter. Ashton Thomas Private Wealth LLC’s holdings in Fastenal were worth $2,544,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Vanguard Group Inc. grew its position in shares of Fastenal by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 73,317,271 shares of the company’s stock worth $5,685,754,000 after buying an additional 1,016,479 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Fastenal by 8.9% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 22,615,915 shares of the company’s stock worth $1,753,864,000 after buying an additional 1,850,871 shares during the last quarter. Envestnet Asset Management Inc. lifted its stake in shares of Fastenal by 103.5% in the 2nd quarter. Envestnet Asset Management Inc. now owns 9,734,500 shares of the company’s stock valued at $408,849,000 after purchasing an additional 4,950,503 shares during the period. Cantillon Capital Management LLC lifted its stake in shares of Fastenal by 94.4% in the 2nd quarter. Cantillon Capital Management LLC now owns 9,298,033 shares of the company’s stock valued at $390,517,000 after purchasing an additional 4,513,985 shares during the period. Finally, Baird Financial Group Inc. lifted its stake in shares of Fastenal by 1.7% in the 1st quarter. Baird Financial Group Inc. now owns 8,418,765 shares of the company’s stock valued at $652,875,000 after purchasing an additional 142,972 shares during the period. 81.38% of the stock is currently owned by institutional investors.

Fastenal Stock Down 2.1%

Shares of NASDAQ:FAST opened at $41.63 on Wednesday. The stock has a fifty day simple moving average of $46.97 and a two-hundred day simple moving average of $44.35. The stock has a market capitalization of $47.79 billion, a price-to-earnings ratio of 38.91, a PEG ratio of 3.88 and a beta of 0.94. Fastenal Company has a 12-month low of $35.31 and a 12-month high of $50.63. The company has a current ratio of 4.26, a quick ratio of 2.19 and a debt-to-equity ratio of 0.03.

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

Fastenal Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 25th. Investors of record on Tuesday, October 28th will be issued a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 2.1%. The ex-dividend date is Tuesday, October 28th. Fastenal’s dividend payout ratio (DPR) is presently 82.24%.

Insiders Place Their Bets

In other Fastenal news, Director Hsenghung Sam Hsu acquired 1,000 shares of Fastenal stock in a transaction that occurred on Thursday, October 16th. The stock was bought at an average cost of $42.45 per share, for a total transaction of $42,450.00. Following the acquisition, the director owned 9,000 shares of the company’s stock, valued at $382,050. This represents a 12.50% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Jeffery Michael Watts sold 48,724 shares of Fastenal stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $48.05, for a total value of $2,341,188.20. Following the completion of the sale, the insider owned 11,880 shares of the company’s stock, valued at $570,834. The trade was a 80.40% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 90,178 shares of company stock valued at $4,336,603 over the last quarter. Corporate insiders own 0.37% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on FAST shares. Robert W. Baird lowered their target price on Fastenal from $53.00 to $49.00 and set an “outperform” rating for the company in a research note on Tuesday, October 14th. Loop Capital restated a “hold” rating on shares of Fastenal in a research note on Tuesday, July 15th. Baird R W upgraded Fastenal from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 7th. Stephens raised their target price on Fastenal from $40.00 to $45.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 15th. Finally, Northcoast Research started coverage on Fastenal in a research note on Thursday, August 21st. They issued a “neutral” rating for the company. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Fastenal presently has a consensus rating of “Hold” and a consensus target price of $46.50.

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.