Western Wealth Management LLC Has $1.09 Million Stock Position in Fastenal Company $FAST

Western Wealth Management LLC increased its holdings in shares of Fastenal Company (NASDAQ:FAST) by 91.7% in the second quarter, HoldingsChannel reports. The firm owned 25,864 shares of the company’s stock after buying an additional 12,372 shares during the period. Western Wealth Management LLC’s holdings in Fastenal were worth $1,086,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of FAST. Riverview Trust Co lifted its position 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 buying an additional 292 shares during the last quarter. Hilltop National Bank bought a new stake in Fastenal in the 2nd quarter valued at $27,000. Private Wealth Management Group LLC raised its stake in 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 acquiring an additional 339 shares during the period. Armstrong Advisory Group Inc. lifted its holdings in 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 purchasing an additional 348 shares during the last quarter. Finally, AdvisorNet Financial Inc boosted its position in Fastenal by 95.0% during the second quarter. AdvisorNet Financial Inc now owns 702 shares of the company’s stock worth $29,000 after purchasing an additional 342 shares during the period. Institutional investors own 81.38% of the company’s stock.

Fastenal Price Performance

Shares of Fastenal stock opened at $39.70 on Tuesday. Fastenal Company has a twelve month low of $35.31 and a twelve month high of $50.63. The company has a quick ratio of 2.19, a current ratio of 4.26 and a debt-to-equity ratio of 0.03. The company has a 50-day simple moving average of $44.57 and a two-hundred day simple moving average of $44.43. The stock has a market capitalization of $45.58 billion, a price-to-earnings ratio of 37.10, 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 return on equity of 32.69% and a net margin of 15.34%.The business had revenue of $2.13 billion for the quarter, compared to analyst estimates of $2.13 billion. During the same quarter in the previous year, the company earned $0.26 EPS. The business’s revenue for the quarter was up 11.7% on a year-over-year basis. Analysts forecast that Fastenal Company will post 2.15 EPS for the current year.

Fastenal Dividend Announcement

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

Insiders Place Their Bets

In related news, Director Hsenghung Sam Hsu acquired 1,000 shares of the company’s stock in a transaction on Thursday, November 13th. The stock was purchased at an average cost of $49.58 per share, with a total value of $49,580.00. Following the acquisition, the director directly owned 10,000 shares of the company’s stock, valued at approximately $495,800. The trade was a 11.11% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.37% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

FAST has been the topic of several research analyst reports. Wolfe Research raised shares of Fastenal from an “underperform” rating to a “peer perform” rating and set a $43.00 price objective on the stock in a research report on Thursday, November 13th. Northcoast Research started coverage on shares of Fastenal in a research note on Thursday, August 21st. They issued a “neutral” rating on the stock. Barclays lowered their price target on shares of Fastenal from $45.00 to $44.00 and set an “equal weight” rating on the stock in a report on Thursday, November 13th. 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. Finally, JPMorgan Chase & Co. upped their target price on Fastenal from $41.00 to $46.00 and gave the company a “neutral” rating in a research report on Thursday, September 4th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, Fastenal has an average rating of “Hold” and an average price target of $46.32.

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.