Bryn Mawr Trust Advisors LLC Acquires New Holdings in Fastenal Company $FAST

Bryn Mawr Trust Advisors LLC acquired a new position in Fastenal Company (NASDAQ:FAST) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 125,462 shares of the company’s stock, valued at approximately $6,026,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Evergreen Advisors LLC acquired a new stake in shares of Fastenal in the 1st quarter worth approximately $26,000. Palladiem LLC acquired a new position in shares of Fastenal during the fourth quarter valued at approximately $25,000. Elyxium Wealth LLC acquired a new position in shares of Fastenal during the fourth quarter valued at approximately $25,000. MV Capital Management Inc. bought a new stake in Fastenal during the fourth quarter worth approximately $29,000. Finally, Measured Wealth Private Client Group LLC bought a new stake in Fastenal during the third quarter worth approximately $36,000. Institutional investors own 81.38% of the company’s stock.

Fastenal Price Performance

Shares of NASDAQ:FAST opened at $51.02 on Friday. The company’s fifty day moving average is $47.47 and its two-hundred day moving average is $46.10. The company has a market cap of $58.55 billion, a P/E ratio of 43.24, a price-to-earnings-growth ratio of 3.20 and a beta of 0.72. Fastenal Company has a 12-month low of $38.97 and a 12-month high of $52.92. The company has a quick ratio of 2.21, a current ratio of 4.18 and a debt-to-equity ratio of 0.01.

Fastenal (NASDAQ:FAST) last issued its quarterly earnings results on Tuesday, July 14th. The company reported $0.33 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.33. The business had revenue of $2.39 billion for the quarter, compared to the consensus estimate of $2.34 billion. Fastenal had a return on equity of 34.03% and a net margin of 15.45%.Fastenal’s revenue for the quarter was up 14.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.29 earnings per share. Equities analysts expect that Fastenal Company will post 1.26 earnings per share for the current fiscal year.

Fastenal Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 25th. Shareholders of record on Tuesday, July 28th will be paid a dividend of $0.26 per share. This is a boost from Fastenal’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend is Tuesday, July 28th. This represents a $1.04 annualized dividend and a yield of 2.0%. Fastenal’s dividend payout ratio (DPR) is presently 88.14%.

Insider Activity

In other news, Director Michael J. Ancius sold 3,000 shares of the company’s stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $49.00, for a total value of $147,000.00. Following the transaction, the director owned 58,690 shares in the company, valued at $2,875,810. This represents a 4.86% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Rita J. Heise sold 34,964 shares of the stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $50.05, for a total transaction of $1,749,948.20. Following the completion of the sale, the director directly owned 20,000 shares of the company’s stock, valued at $1,001,000. This trade represents a 63.61% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.28% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Jefferies Financial Group reaffirmed a “buy” rating on shares of Fastenal in a research note on Thursday, June 4th. Rothschild & Co Redburn set a $55.00 price objective on Fastenal and gave the stock a “buy” rating in a research note on Monday, July 13th. Sanford C. Bernstein restated an “underperform” rating on shares of Fastenal in a report on Wednesday, July 15th. Weiss Ratings lowered Fastenal from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, July 21st. Finally, Wolfe Research restated an “underperform” rating and issued a $47.00 price target on shares of Fastenal in a research report on Thursday, July 9th. Five equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $49.17.

Fastenal Profile

Fastenal (NASDAQ: FAST) is a wholesale distributor of industrial and construction supplies, best known for its broad assortment of fasteners such as bolts, nuts, screws and anchors. Founded in Winona, Minnesota, Fastenal has grown from a regional supplier into a national and international distributor serving a wide range of end markets, including manufacturing, construction, maintenance, repair and operations (MRO), and government customers. The company is publicly traded and operates through a network of locally staffed branches combined with national distribution capabilities.

Product offerings extend beyond fasteners to include tools, safety and personal protective equipment, power transmission components, cutting and welding supplies, janitorial and material handling items, and other industrial consumables.