Fastenal Company $FAST Shares Purchased by Journey Strategic Wealth LLC

Journey Strategic Wealth LLC boosted its position in shares of Fastenal Company (NASDAQ:FAST) by 182.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,739 shares of the company’s stock after buying an additional 6,941 shares during the period. Journey Strategic Wealth LLC’s holdings in Fastenal were worth $451,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of FAST. Riverview Trust Co raised its position in Fastenal by 100.0% in the 2nd 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 purchased a new position in Fastenal during the 2nd quarter worth $27,000. Private Wealth Management Group LLC increased its stake in Fastenal by 111.9% in the second quarter. Private Wealth Management Group LLC now owns 642 shares of the company’s stock valued at $27,000 after purchasing an additional 339 shares during the period. Armstrong Advisory Group Inc. raised its holdings in shares of Fastenal by 100.0% in the second quarter. Armstrong Advisory Group Inc. now owns 696 shares of the company’s stock valued at $29,000 after buying an additional 348 shares during the last quarter. Finally, AdvisorNet Financial Inc boosted its stake in shares of Fastenal by 95.0% during the second quarter. AdvisorNet Financial Inc now owns 702 shares of the company’s stock worth $29,000 after buying an additional 342 shares during the period. 81.38% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Hsenghung Sam Hsu purchased 1,000 shares of the company’s stock in a transaction on Thursday, November 13th. The stock was bought at an average price of $49.58 per share, with a total value of $49,580.00. Following the completion of the transaction, the director owned 10,000 shares of the company’s stock, valued at approximately $495,800. This represents a 11.11% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Sarah N. Nielsen acquired 1,000 shares of Fastenal stock in a transaction dated Wednesday, November 19th. The stock was bought at an average price of $39.60 per share, for a total transaction of $39,600.00. Following the completion of the transaction, the director directly owned 5,000 shares of the company’s stock, valued at approximately $198,000. This represents a 25.00% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last quarter, insiders have acquired 3,000 shares of company stock worth $131,630. 0.37% of the stock is owned by insiders.

Analysts Set New Price Targets

FAST has been the topic of several recent research reports. Barclays dropped their price target on Fastenal from $45.00 to $44.00 and set an “equal weight” rating on the stock in a research report on Thursday, November 13th. Weiss Ratings reissued a “buy (b)” rating on shares of Fastenal in a report on Wednesday, October 8th. Northcoast Research initiated coverage on Fastenal in a report on Thursday, August 21st. They set a “neutral” rating for the company. Baird R W upgraded shares of Fastenal from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 7th. Finally, Sanford C. Bernstein began coverage on shares of Fastenal in a research report on Tuesday, November 11th. They set an “underperform” rating and a $38.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $46.32.

Fastenal Stock Up 1.9%

FAST opened at $39.91 on Friday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.19 and a current ratio of 4.26. The company has a market cap of $45.82 billion, a price-to-earnings ratio of 37.30, a PEG ratio of 3.75 and a beta of 0.92. Fastenal Company has a one year low of $35.31 and a one year high of $50.63. The business’s fifty day moving average is $43.92 and its two-hundred day moving average is $44.38.

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

Fastenal Dividend Announcement

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

Fastenal 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.