Toth Financial Advisory Corp Acquires 14,269 Shares of Fastenal Company $FAST

Toth Financial Advisory Corp increased its holdings in Fastenal Company (NASDAQ:FAST) by 8.2% in the second quarter, HoldingsChannel.com reports. The fund owned 187,389 shares of the company’s stock after acquiring an additional 14,269 shares during the period. Toth Financial Advisory Corp’s holdings in Fastenal were worth $9,000,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. BlackRock Inc. bought a new position in Fastenal in the second quarter worth about $5,105,454,000. State Street Corp lifted its holdings in Fastenal by 1.2% in the fourth quarter. State Street Corp now owns 54,734,674 shares of the company’s stock worth $2,196,502,000 after buying an additional 631,889 shares during the period. Charles Schwab Investment Management Inc. boosted its position in Fastenal by 2.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 47,297,047 shares of the company’s stock valued at $1,898,031,000 after acquiring an additional 919,158 shares in the last quarter. Geode Capital Management LLC boosted its position in Fastenal by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 37,699,836 shares of the company’s stock valued at $1,508,216,000 after acquiring an additional 685,047 shares in the last quarter. Finally, Invesco Ltd. grew its holdings in shares of Fastenal by 14.0% during the 3rd quarter. Invesco Ltd. now owns 18,215,875 shares of the company’s stock worth $893,307,000 after acquiring an additional 2,242,116 shares during the period. Institutional investors own 81.38% of the company’s stock.

Fastenal Stock Performance

Shares of Fastenal stock opened at $49.78 on Friday. Fastenal Company has a 1 year low of $38.97 and a 1 year high of $52.92. The firm’s 50-day moving average is $48.45 and its 200 day moving average is $46.50. The stock has a market cap of $57.12 billion, a price-to-earnings ratio of 42.19, a PEG ratio of 3.19 and a beta of 0.72. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.18 and a quick ratio of 2.21.

Fastenal (NASDAQ:FAST) last released its quarterly earnings data 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 during the quarter, compared to analyst estimates of $2.34 billion. Fastenal had a net margin of 15.45% and a return on equity of 34.03%. Fastenal’s revenue was up 14.7% compared to the same quarter last year. During the same period last year, the business earned $0.29 EPS. Sell-side analysts anticipate that Fastenal Company will post 1.26 EPS for the current fiscal year.

Fastenal Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 25th. Investors of record on Tuesday, July 28th were given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 2.1%. This is an increase from Fastenal’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend was Tuesday, July 28th. Fastenal’s payout ratio is 88.14%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on FAST. Rothschild & Co Redburn set a $55.00 target price on Fastenal and gave the company a “buy” rating in a research note on Monday, July 13th. Robert W. Baird set a $54.00 price objective on Fastenal in a report on Friday, August 7th. DA Davidson reissued a “neutral” rating and set a $46.00 price objective on shares of Fastenal in a research report on Wednesday, July 15th. Jefferies Financial Group restated a “buy” rating on shares of Fastenal in a report on Thursday, June 4th. Finally, Wolfe Research reissued an “underperform” rating and set a $47.00 price target on shares of Fastenal in a research report on Thursday, July 9th. Five research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $49.17.

Insider Activity at Fastenal

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

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.