Gilbert & Cook Inc. Raises Stock Position in Fastenal Company $FAST

Gilbert & Cook Inc. increased its position in shares of Fastenal Company (NASDAQ:FAST) by 100.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 8,925 shares of the company’s stock after acquiring an additional 4,473 shares during the period. Gilbert & Cook Inc.’s holdings in Fastenal were worth $375,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Brighton Jones LLC purchased a new stake in shares of Fastenal in the fourth quarter worth $496,000. Private Trust Co. NA raised its holdings in shares of Fastenal by 11.2% in the 1st quarter. Private Trust Co. NA now owns 2,900 shares of the company’s stock valued at $225,000 after acquiring an additional 291 shares in the last quarter. D.A. Davidson & CO. boosted its position in shares of Fastenal by 16.2% during the 1st quarter. D.A. Davidson & CO. now owns 29,176 shares of the company’s stock valued at $2,263,000 after acquiring an additional 4,072 shares during the last quarter. OneDigital Investment Advisors LLC grew its holdings in shares of Fastenal by 9.4% during the first quarter. OneDigital Investment Advisors LLC now owns 19,634 shares of the company’s stock worth $1,523,000 after purchasing an additional 1,682 shares in the last quarter. Finally, IFM Investors Pty Ltd increased its position in shares of Fastenal by 10.3% in the first quarter. IFM Investors Pty Ltd now owns 112,769 shares of the company’s stock worth $8,054,000 after purchasing an additional 10,512 shares during the last quarter. 81.38% of the stock is currently owned by hedge funds and other institutional investors.

Fastenal Stock Performance

Fastenal stock opened at $41.15 on Monday. The firm has a fifty day simple moving average of $46.47 and a two-hundred day simple moving average of $44.39. The company has a quick ratio of 2.19, a current ratio of 4.26 and a debt-to-equity ratio of 0.03. Fastenal Company has a twelve month low of $35.31 and a twelve month high of $50.63. The company has a market capitalization of $47.24 billion, a PE ratio of 38.46, a P/E/G ratio of 3.75 and a beta of 0.94.

Fastenal (NASDAQ:FAST) last released 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). The company had revenue of $2.13 billion during the quarter, compared to analysts’ expectations of $2.13 billion. Fastenal had a return on equity of 32.69% and a net margin of 15.34%.The firm’s quarterly revenue was up 11.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.26 EPS. Research analysts expect that Fastenal Company will post 2.15 EPS for the current year.

Fastenal Dividend Announcement

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

Analyst Ratings Changes

FAST has been the subject of several research analyst reports. Stephens lifted their target price on shares of Fastenal from $40.00 to $45.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 15th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Fastenal in a report on Wednesday, October 8th. Barclays set a $45.00 target price on Fastenal and gave the company an “equal weight” rating in a research note on Tuesday, October 14th. Wolfe Research reaffirmed a “positive” rating on shares of Fastenal in a research note on Monday, July 14th. Finally, Northcoast Research initiated coverage on Fastenal in a report 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 assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $46.50.

Insider Buying and Selling

In other news, EVP William Joseph Drazkowski sold 6,842 shares of the stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $48.67, for a total transaction of $333,000.14. Following the completion of the sale, the executive vice president owned 11,994 shares of the company’s stock, valued at approximately $583,747.98. This represents a 36.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Hsenghung Sam Hsu bought 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 16th. The stock was purchased at an average cost of $42.45 per share, for a total transaction of $42,450.00. Following the completion of the purchase, the director owned 9,000 shares of the company’s stock, valued at $382,050. This trade represents a 12.50% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders have sold 90,178 shares of company stock worth $4,336,603. Company insiders own 0.37% of the company’s stock.

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.