DJE Kapital AG Acquires 189,047 Shares of Fastenal Company $FAST

DJE Kapital AG boosted its holdings in shares of Fastenal Company (NASDAQ:FAST) by 90.3% in the second quarter, Holdings Channel.com reports. The fund owned 398,494 shares of the company’s stock after buying an additional 189,047 shares during the quarter. DJE Kapital AG’s holdings in Fastenal were worth $16,783,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the stock. Riverview Trust Co increased its holdings in Fastenal by 100.0% in the second quarter. Riverview Trust Co now owns 584 shares of the company’s stock valued at $25,000 after purchasing an additional 292 shares during the last quarter. Hilltop National Bank acquired a new position in shares of Fastenal during the 2nd quarter worth about $27,000. Private Wealth Management Group LLC increased its stake in shares of Fastenal by 111.9% in the 2nd quarter. Private Wealth Management Group LLC now owns 642 shares of the company’s stock valued at $27,000 after acquiring an additional 339 shares during the last quarter. Armstrong Advisory Group Inc. raised its position in shares of Fastenal by 100.0% in the 2nd quarter. Armstrong Advisory Group Inc. now owns 696 shares of the company’s stock valued at $29,000 after acquiring an additional 348 shares during the period. Finally, AdvisorNet Financial Inc boosted its stake in Fastenal by 95.0% during the 2nd quarter. AdvisorNet Financial Inc now owns 702 shares of the company’s stock worth $29,000 after acquiring an additional 342 shares during the last quarter. Institutional investors and hedge funds own 81.38% of the company’s stock.

Insiders Place Their Bets

In related news, EVP William Joseph Drazkowski sold 6,842 shares of the stock in a transaction on Friday, August 15th. The shares were sold at an average price of $48.67, for a total transaction of $333,000.14. Following the completion of the transaction, the executive vice president owned 11,994 shares in the company, valued at approximately $583,747.98. This represents a 36.32% decrease in their ownership of the stock. The sale 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 acquired at an average cost of $42.45 per share, with a total value of $42,450.00. Following the transaction, the director owned 9,000 shares of the company’s stock, valued at $382,050. This represents a 12.50% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders own 0.37% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on FAST. Stephens upped their target price on shares of Fastenal from $40.00 to $45.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 15th. Baird R W raised Fastenal from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 7th. Weiss Ratings reiterated a “buy (b)” rating on shares of Fastenal in a report on Wednesday, October 8th. Barclays set a $45.00 price target on Fastenal and gave the stock an “equal weight” rating in a report on Tuesday, October 14th. Finally, Northcoast Research assumed coverage on Fastenal in a report on Thursday, August 21st. They set a “neutral” rating on the stock. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Fastenal has an average rating of “Hold” and an average price target of $46.50.

Fastenal Stock Performance

FAST opened at $40.85 on Friday. The company has a market capitalization of $46.90 billion, a price-to-earnings ratio of 38.18, a P/E/G ratio of 3.75 and a beta of 0.92. The business’s 50-day moving average price is $45.57 and its two-hundred day moving average price is $44.38. 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 4.26 and a quick ratio of 2.19.

Fastenal (NASDAQ:FAST) last posted 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 return on equity of 32.69% and a net margin of 15.34%.The firm had revenue of $2.13 billion for the quarter, compared to the consensus estimate of $2.13 billion. During the same quarter in the previous year, the business posted $0.26 earnings per share. The firm’s quarterly revenue was up 11.7% compared to the same quarter last year. Equities analysts expect that Fastenal Company will post 2.15 EPS for the current fiscal year.

Fastenal Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 25th. Stockholders of record on Tuesday, October 28th will be issued a $0.22 dividend. The ex-dividend date is Tuesday, October 28th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.2%. Fastenal’s dividend payout ratio (DPR) is 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.