Campbell & CO Investment Adviser LLC Takes Position in Fastenal Company $FAST

Campbell & CO Investment Adviser LLC acquired a new position in shares of Fastenal Company (NASDAQ:FAST) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 48,656 shares of the company’s stock, valued at approximately $2,044,000.

Several other institutional investors have also recently added to or reduced their stakes in the company. Riverview Trust Co grew its holdings in shares of Fastenal by 100.0% during the second quarter. Riverview Trust Co now owns 584 shares of the company’s stock worth $25,000 after buying an additional 292 shares in the last quarter. Hilltop National Bank acquired a new stake in Fastenal during the second quarter worth approximately $27,000. Private Wealth Management Group LLC grew 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 worth $27,000 after acquiring an additional 339 shares during the period. Armstrong Advisory Group Inc. raised its holdings in Fastenal by 100.0% in the 2nd quarter. Armstrong Advisory Group Inc. now owns 696 shares of the company’s stock valued at $29,000 after acquiring an additional 348 shares during the last quarter. Finally, AdvisorNet Financial Inc lifted its stake in shares of Fastenal by 95.0% during the 2nd 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 and hedge funds own 81.38% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Loop Capital reaffirmed a “hold” rating on shares of Fastenal in a research report on Tuesday, July 15th. Barclays set a $45.00 price target on Fastenal and gave the company an “equal weight” rating in a report on Tuesday, October 14th. Northcoast Research initiated coverage on shares of Fastenal in a report on Thursday, August 21st. They set a “neutral” rating on the stock. Wolfe Research restated a “positive” rating on shares of Fastenal in a report on Monday, July 14th. Finally, JPMorgan Chase & Co. upped their price target on shares of Fastenal from $41.00 to $46.00 and gave the stock a “neutral” rating in a research report on Thursday, September 4th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $46.50.

Fastenal Stock Up 1.2%

Shares of NASDAQ:FAST opened at $41.35 on Tuesday. The stock has a 50-day simple moving average of $45.41 and a 200-day simple moving average of $44.42. The stock has a market capitalization of $47.47 billion, a P/E ratio of 38.65, a PEG ratio of 3.75 and a beta of 0.92. Fastenal Company has a 1 year low of $35.31 and a 1 year high of $50.63. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.19 and a current ratio of 4.26.

Fastenal (NASDAQ:FAST) last posted its quarterly earnings results on Monday, October 13th. The company reported $0.29 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.01). The business had revenue of $2.13 billion during the quarter, compared to analysts’ expectations of $2.13 billion. Fastenal had a net margin of 15.34% and a return on equity of 32.69%. The company’s quarterly revenue was up 11.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.26 EPS. Equities analysts forecast that Fastenal Company will post 2.15 earnings per share for the current year.

Fastenal Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 25th. Investors of record on Tuesday, October 28th will be issued a dividend of $0.22 per share. The ex-dividend date is Tuesday, October 28th. This represents a $0.88 annualized dividend and a dividend yield of 2.1%. Fastenal’s payout ratio is presently 82.24%.

Insiders Place Their Bets

In related news, Director Hsenghung Sam Hsu bought 1,000 shares of the firm’s stock in a transaction dated Thursday, October 16th. The stock was bought at an average price of $42.45 per share, with a total value of $42,450.00. Following the completion of the transaction, the director directly owned 9,000 shares of the company’s stock, valued at approximately $382,050. This represents a 12.50% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP William Joseph Drazkowski sold 6,842 shares of the stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $48.67, for a total value of $333,000.14. Following the completion of the sale, the executive vice president owned 11,994 shares of the company’s stock, valued at approximately $583,747.98. This trade represents a 36.32% decrease in their position. The SEC filing for this sale provides additional information. 0.37% of the stock is currently owned by corporate insiders.

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.