Crestwood Advisors Group LLC Grows Stock Holdings in Fastenal Company $FAST

Crestwood Advisors Group LLC increased its position in Fastenal Company (NASDAQ:FAST) by 89.7% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 14,072 shares of the company’s stock after buying an additional 6,655 shares during the period. Crestwood Advisors Group LLC’s holdings in Fastenal were worth $591,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of FAST. Riverview Trust Co boosted its stake in shares of Fastenal by 100.0% in the second quarter. Riverview Trust Co now owns 584 shares of the company’s stock worth $25,000 after acquiring an additional 292 shares during the period. Hilltop National Bank purchased a new position in Fastenal in the 2nd quarter worth approximately $27,000. Private Wealth Management Group LLC boosted its stake in Fastenal by 111.9% in the 2nd quarter. Private Wealth Management Group LLC now owns 642 shares of the company’s stock worth $27,000 after purchasing an additional 339 shares during the period. Armstrong Advisory Group Inc. grew its holdings in Fastenal by 100.0% during the 2nd quarter. Armstrong Advisory Group Inc. now owns 696 shares of the company’s stock valued at $29,000 after buying an additional 348 shares in the last quarter. Finally, AdvisorNet Financial Inc raised 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 valued at $29,000 after buying an additional 342 shares during the last quarter. 81.38% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Director Hsenghung Sam Hsu bought 1,000 shares of Fastenal stock in a transaction dated Thursday, October 16th. The shares were acquired at an average price of $42.45 per share, with a total value of $42,450.00. Following the completion of the purchase, the director owned 9,000 shares in the company, valued at $382,050. The trade was a 12.50% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP William Joseph Drazkowski sold 6,842 shares of the firm’s stock in a transaction dated 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 $583,747.98. This trade represents a 36.32% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.37% of the company’s stock.

Analysts Set New Price Targets

FAST has been the subject of a number of research reports. JPMorgan Chase & Co. upped their target price on shares of Fastenal from $41.00 to $46.00 and gave the stock a “neutral” rating in a research report on Thursday, September 4th. Barclays set a $45.00 price objective on shares of Fastenal and gave the company an “equal weight” rating in a report on Tuesday, October 14th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Fastenal in a report on Wednesday, October 8th. Baird R W upgraded Fastenal from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 7th. Finally, Stephens raised their price target on Fastenal from $40.00 to $45.00 and gave the company an “equal weight” rating in a report on Tuesday, July 15th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $46.50.

Fastenal Stock Down 2.2%

Shares of NASDAQ:FAST opened at $40.77 on Friday. The company has a market cap of $46.81 billion, a price-to-earnings ratio of 38.10, a PEG ratio of 3.75 and a beta of 0.92. 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. The company has a 50-day moving average price of $45.75 and a 200 day moving average price of $44.35.

Fastenal (NASDAQ:FAST) last issued 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). The company had revenue of $2.13 billion for the quarter, compared to analysts’ expectations of $2.13 billion. Fastenal had a net margin of 15.34% and a return on equity of 32.69%. The company’s revenue for the quarter was up 11.7% on a year-over-year basis. During the same quarter last year, the company earned $0.26 earnings per share. As a group, equities research analysts predict that Fastenal Company will post 2.15 earnings per share for the current year.

Fastenal Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 25th. Shareholders of record on Tuesday, October 28th will be paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend is Tuesday, October 28th. Fastenal’s payout ratio is presently 82.24%.

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.