Level Four Advisory Services LLC Has $6.44 Million Position in Fastenal Company $FAST

Level Four Advisory Services LLC grew its position in shares of Fastenal Company (NASDAQ:FAST) by 101.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 153,432 shares of the company’s stock after purchasing an additional 77,098 shares during the quarter. Level Four Advisory Services LLC’s holdings in Fastenal were worth $6,444,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Patton Fund Management Inc. acquired a new position in Fastenal during the 2nd quarter worth about $229,000. Values First Advisors Inc. increased its stake in shares of Fastenal by 183.0% in the second quarter. Values First Advisors Inc. now owns 9,378 shares of the company’s stock valued at $394,000 after buying an additional 6,064 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of Fastenal by 8.9% during the first quarter. Charles Schwab Investment Management Inc. now owns 22,615,915 shares of the company’s stock worth $1,753,864,000 after acquiring an additional 1,850,871 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Fastenal by 103.5% in the second quarter. Vanguard Group Inc. now owns 149,169,494 shares of the company’s stock worth $6,265,119,000 after acquiring an additional 75,852,223 shares during the period. Finally, Optas LLC boosted its holdings in Fastenal by 100.2% in the second quarter. Optas LLC now owns 13,712 shares of the company’s stock valued at $576,000 after acquiring an additional 6,863 shares during the last quarter. 81.38% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Fastenal news, Director Hsenghung Sam Hsu bought 1,000 shares of the stock in a transaction dated Thursday, November 13th. The shares were bought at an average cost of $49.58 per share, for a total transaction of $49,580.00. Following the purchase, 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 position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Sarah N. Nielsen purchased 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 19th. The stock was bought at an average cost of $39.60 per share, for a total transaction of $39,600.00. Following the completion of the acquisition, the director directly owned 5,000 shares in the company, valued at $198,000. The trade was a 25.00% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have purchased 3,000 shares of company stock worth $131,630 over the last quarter. 0.37% of the stock is currently owned by corporate insiders.

Fastenal Stock Up 0.3%

FAST opened at $40.42 on Friday. Fastenal Company has a fifty-two week low of $35.31 and a fifty-two week high of $50.63. The firm has a market capitalization of $46.40 billion, a P/E ratio of 37.77, a PEG ratio of 3.75 and a beta of 0.92. The company’s 50-day moving average is $43.20 and its 200 day moving average is $44.36. 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 issued its quarterly earnings data 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 return on equity of 32.69% and a net margin of 15.34%.The firm had revenue of $2.13 billion during the quarter, compared to the consensus estimate of $2.13 billion. During the same period in the previous year, the company posted $0.26 earnings per share. The company’s revenue for the quarter was up 11.7% on a year-over-year basis. Research analysts expect that Fastenal Company will post 2.15 earnings per share for the current fiscal year.

Fastenal Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 25th. Investors of record on Tuesday, October 28th were given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend was Tuesday, October 28th. Fastenal’s dividend payout ratio (DPR) is presently 82.24%.

Wall Street Analyst Weigh In

Several research firms have issued reports on FAST. Robert W. Baird lowered their price target on shares of Fastenal from $53.00 to $49.00 and set an “outperform” rating for the company in a report on Tuesday, October 14th. Sanford C. Bernstein initiated coverage on Fastenal in a research note on Tuesday, November 11th. They set an “underperform” rating and a $38.00 price target on the stock. Baird R W upgraded shares of Fastenal from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 7th. Northcoast Research assumed coverage on Fastenal in a research note on Thursday, August 21st. They set a “neutral” rating for the company. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Fastenal in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, nine have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, Fastenal presently has an average rating of “Hold” and a consensus price target of $46.32.

About Fastenal

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.