Fastenal Company $FAST Shares Purchased by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. raised its stake in Fastenal Company (NASDAQ:FAST) by 103.4% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 45,995,937 shares of the company’s stock after buying an additional 23,380,022 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Fastenal were worth $1,931,830,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the company. 1248 Management LLC bought a new stake in Fastenal in the 1st quarter valued at about $36,000. Riverview Trust Co increased 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 valued at $25,000 after purchasing an additional 292 shares during the period. Zions Bancorporation National Association UT bought a new stake in shares of Fastenal during the first quarter valued at approximately $49,000. Private Wealth Management Group LLC raised its holdings in shares of Fastenal by 111.9% during the second quarter. Private Wealth Management Group LLC now owns 642 shares of the company’s stock valued at $27,000 after buying an additional 339 shares during the last quarter. Finally, Hilltop National Bank acquired a new position in shares of Fastenal during the second quarter worth approximately $27,000. Institutional investors own 81.38% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Baird R W raised Fastenal from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 7th. JPMorgan Chase & Co. upped their price objective on shares of Fastenal from $41.00 to $46.00 and gave the stock a “neutral” rating in a report on Thursday, September 4th. Sanford C. Bernstein initiated coverage on shares of Fastenal in a research note on Tuesday, November 11th. They set an “underperform” rating and a $38.00 target price on the stock. Robert W. Baird dropped their price target on shares of Fastenal from $53.00 to $49.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 14th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Fastenal in a report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $46.32.

Fastenal Stock Performance

NASDAQ:FAST opened at $39.91 on Friday. The company has a 50-day moving average of $43.92 and a 200-day moving average of $44.38. The firm has a market cap of $45.82 billion, a price-to-earnings ratio of 37.30, a price-to-earnings-growth ratio of 3.75 and a beta of 0.92. 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 Company has a twelve month low of $35.31 and a twelve month high of $50.63.

Fastenal (NASDAQ:FAST) last released its earnings results on Tuesday, October 14th. The company reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.01). The business had revenue of $2.13 billion during the quarter, compared to the consensus estimate of $2.13 billion. Fastenal had a return on equity of 32.69% and a net margin of 15.34%.The firm’s revenue for the quarter was up 11.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.26 earnings per share. Analysts forecast that Fastenal Company will post 2.15 earnings per share for the current fiscal year.

Fastenal Dividend Announcement

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

Insiders Place Their Bets

In related news, Director Hsenghung Sam Hsu bought 1,000 shares of the business’s stock in a transaction dated Thursday, November 13th. The shares were bought at an average cost of $49.58 per share, with a total value of $49,580.00. Following the completion of the transaction, the director directly owned 10,000 shares of the company’s stock, valued at approximately $495,800. This trade represents a 11.11% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Sarah N. Nielsen purchased 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 19th. The stock was bought at an average price of $39.60 per share, with a total value of $39,600.00. Following the transaction, the director directly owned 5,000 shares in the company, valued at $198,000. This trade represents a 25.00% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders purchased a total of 3,000 shares of company stock worth $131,630 over the last 90 days. 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.