Copperwynd Financial LLC Purchases 3,198 Shares of Fastenal Company $FAST

Copperwynd Financial LLC increased its position in Fastenal Company (NASDAQ:FAST) by 110.8% during the second quarter, Holdings Channel.com reports. The firm owned 6,083 shares of the company’s stock after buying an additional 3,198 shares during the quarter. Copperwynd Financial LLC’s holdings in Fastenal were worth $255,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. 1248 Management LLC bought a new position in shares of Fastenal in the 1st quarter worth $36,000. Horizon Financial Services LLC lifted its holdings in shares of Fastenal by 5,330.0% in the 1st quarter. Horizon Financial Services LLC now owns 543 shares of the company’s stock worth $42,000 after purchasing an additional 533 shares in the last quarter. Riverview Trust Co lifted its holdings in shares of Fastenal by 100.0% in the 2nd quarter. Riverview Trust Co now owns 584 shares of the company’s stock worth $25,000 after purchasing an additional 292 shares in the last quarter. Zions Bancorporation National Association UT bought a new position in shares of Fastenal in the 1st quarter worth $49,000. Finally, Hilltop National Bank bought a new position in shares of Fastenal in the 2nd quarter worth $27,000. 81.38% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, CFO Sheryl Ann Lisowski sold 21,052 shares of Fastenal stock in a transaction dated Thursday, July 17th. The stock was sold at an average price of $45.21, for a total value of $951,760.92. Following the completion of the sale, the chief financial officer owned 10,192 shares of the company’s stock, valued at approximately $460,780.32. This trade represents a 67.38% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP William Joseph Drazkowski sold 6,842 shares of Fastenal stock in a transaction dated Friday, August 15th. The stock was 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 directly 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 disclosure for this sale can be found here. In the last quarter, insiders sold 111,230 shares of company stock valued at $5,288,364. 0.37% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

FAST has been the topic of a number of recent research reports. JPMorgan Chase & Co. increased their target price on Fastenal from $41.00 to $46.00 and gave the stock a “neutral” rating in a report on Thursday, September 4th. Robert W. Baird upgraded Fastenal from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $47.00 to $55.00 in a research note on Thursday, August 7th. Northcoast Research initiated coverage on Fastenal in a research note on Thursday, August 21st. They set a “neutral” rating on the stock. Morgan Stanley set a $40.00 price objective on Fastenal and gave the company an “equal weight” rating in a research note on Thursday, July 3rd. Finally, Loop Capital restated a “hold” rating on shares of Fastenal in a research note on Tuesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $47.41.

Fastenal Trading Up 0.2%

Shares of Fastenal stock opened at $47.55 on Thursday. Fastenal Company has a 1 year low of $34.69 and a 1 year high of $50.63. The firm has a market cap of $54.57 billion, a PE ratio of 45.72, a P/E/G ratio of 4.31 and a beta of 0.94. The stock has a fifty day moving average price of $48.24 and a 200-day moving average price of $43.76. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.22 and a quick ratio of 2.12.

Fastenal (NASDAQ:FAST) last announced its earnings results on Monday, July 14th. The company reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.01. Fastenal had a return on equity of 32.33% and a net margin of 15.30%.The firm had revenue of $2.08 billion during the quarter, compared to analyst estimates of $2.07 billion. During the same period last year, the firm posted $0.25 EPS. The business’s revenue was up 8.6% compared to the same quarter last year. Equities research analysts anticipate that Fastenal Company will post 2.15 EPS for the current year.

Fastenal Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 26th. Stockholders of record on Tuesday, July 29th were given a dividend of $0.22 per share. The ex-dividend date of this dividend was Tuesday, July 29th. This represents a $0.88 annualized dividend and a dividend yield of 1.9%. Fastenal’s dividend payout ratio (DPR) is currently 84.62%.

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.