Fastenal Company $FAST Position Boosted by SlateStone Wealth LLC

SlateStone Wealth LLC boosted its position in Fastenal Company (NASDAQ:FAST) by 100.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 25,212 shares of the company’s stock after buying an additional 12,606 shares during the quarter. SlateStone Wealth LLC’s holdings in Fastenal were worth $1,059,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the company. Riverview Trust Co boosted its holdings in Fastenal by 100.0% in the second quarter. Riverview Trust Co now owns 584 shares of the company’s stock worth $25,000 after purchasing an additional 292 shares during the period. Hilltop National Bank bought a new position in shares of Fastenal in the 2nd quarter worth about $27,000. Private Wealth Management Group LLC boosted its holdings 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 buying an additional 339 shares during the period. Armstrong Advisory Group Inc. grew its position in shares of 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 during the last quarter. Finally, AdvisorNet Financial Inc grew its position in shares of Fastenal by 95.0% during the 2nd 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. Institutional investors own 81.38% of the company’s stock.

Fastenal Price Performance

Shares of FAST opened at $40.09 on Wednesday. Fastenal Company has a one year low of $35.31 and a one year high of $50.63. The stock’s fifty day moving average is $43.62 and its 200-day moving average is $44.42. 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 firm has a market capitalization of $46.02 billion, a price-to-earnings ratio of 37.47, a price-to-earnings-growth ratio of 3.75 and a beta of 0.92.

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). Fastenal had a net margin of 15.34% and a return on equity of 32.69%. The company had revenue of $2.13 billion during the quarter, compared to the consensus estimate of $2.13 billion. During the same quarter in the prior year, the company earned $0.26 EPS. The business’s quarterly revenue was up 11.7% on a year-over-year basis. Equities analysts anticipate that Fastenal Company will post 2.15 EPS for the current year.

Fastenal Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, November 25th. Shareholders of record on Tuesday, October 28th were given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date was Tuesday, October 28th. Fastenal’s dividend payout ratio is 82.24%.

Insider Buying and Selling at Fastenal

In other news, Director Hsenghung Sam Hsu bought 1,000 shares of the stock in a transaction that occurred on Thursday, November 13th. The shares were purchased at an average cost of $49.58 per share, with a total value of $49,580.00. Following the completion of the acquisition, the director directly owned 10,000 shares in the company, valued at approximately $495,800. The trade was 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 through the SEC website. Also, Director Sarah N. Nielsen purchased 1,000 shares of the company’s stock in a transaction on Wednesday, November 19th. The stock was acquired 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 owned 5,000 shares of the company’s stock, valued at $198,000. This represents a 25.00% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders have bought 3,000 shares of company stock worth $131,630. 0.37% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on FAST shares. JPMorgan Chase & Co. lifted their target price on Fastenal from $41.00 to $46.00 and gave the company a “neutral” rating in a research note on Thursday, September 4th. Baird R W upgraded Fastenal from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 7th. Robert W. Baird lowered their price objective on Fastenal from $53.00 to $49.00 and set an “outperform” rating for the company in a research note on Tuesday, October 14th. Barclays cut their target price on Fastenal from $45.00 to $44.00 and set an “equal weight” rating on the stock in a research note on Thursday, November 13th. Finally, Wolfe Research upgraded shares of Fastenal from an “underperform” rating to a “peer perform” rating and set a $43.00 price target for the company in a research report on Thursday, November 13th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, Fastenal has an average rating of “Hold” and an average price target of $46.32.

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.