Fastenal Company $FAST Shares Acquired by RD Lewis Holdings Inc.

RD Lewis Holdings Inc. increased its position in shares of Fastenal Company (NASDAQ:FAST) by 106.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 22,744 shares of the company’s stock after purchasing an additional 11,722 shares during the quarter. RD Lewis Holdings Inc.’s holdings in Fastenal were worth $955,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. 1248 Management LLC acquired a new stake in shares of Fastenal during the first quarter worth $36,000. Riverview Trust Co grew its position in shares of Fastenal by 100.0% during the 2nd 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. Zions Bancorporation National Association UT bought a new stake in shares of Fastenal during the 1st quarter valued at about $49,000. Private Wealth Management Group LLC raised its stake in Fastenal by 111.9% during the second 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. Finally, Hilltop National Bank bought a new position in Fastenal in the second quarter worth about $27,000. Institutional investors own 81.38% of the company’s stock.

Fastenal Stock Performance

Shares of FAST stock opened at $39.91 on Friday. Fastenal Company has a 12-month low of $35.31 and a 12-month high of $50.63. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.26 and a quick ratio of 2.19. The firm has a market capitalization of $45.82 billion, a price-to-earnings ratio of 37.30, a price-to-earnings-growth ratio of 3.75 and a beta of 0.92. The business has a 50 day simple moving average of $43.92 and a 200 day simple moving average of $44.34.

Fastenal (NASDAQ:FAST) last announced its quarterly 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 last year, the firm posted $0.26 EPS. The company’s revenue was up 11.7% compared to the same quarter last year. On average, equities research analysts anticipate that Fastenal Company will post 2.15 EPS for the current year.

Fastenal Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 25th. Investors of record on Tuesday, October 28th will be issued a $0.22 dividend. The ex-dividend date of this dividend is Tuesday, October 28th. This represents a $0.88 annualized dividend and a yield of 2.2%. Fastenal’s dividend payout ratio is presently 82.24%.

Analysts Set New Price Targets

FAST has been the subject of several recent research reports. Baird R W raised Fastenal from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 7th. Northcoast Research started coverage on Fastenal in a research report on Thursday, August 21st. They set a “neutral” rating for the company. Sanford C. Bernstein initiated coverage on Fastenal in a research note on Tuesday, November 11th. They set an “underperform” rating and a $38.00 price objective for the company. Robert W. Baird dropped their target price on Fastenal from $53.00 to $49.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 14th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Fastenal in a report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $46.32.

Insider Transactions at Fastenal

In related news, Director Hsenghung Sam Hsu bought 1,000 shares of the stock in a transaction on Thursday, November 13th. The shares were purchased at an average price of $49.58 per share, with a total value of $49,580.00. Following the purchase, the director owned 10,000 shares in the company, valued at approximately $495,800. This represents a 11.11% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Sarah N. Nielsen purchased 1,000 shares of the company’s stock in a transaction on Wednesday, November 19th. The shares were bought at an average price of $39.60 per share, for a total transaction of $39,600.00. Following the completion of the transaction, the director directly owned 5,000 shares in the company, valued at $198,000. This represents a 25.00% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders purchased a total of 3,000 shares of company stock valued at $131,630 in the last quarter. 0.37% of the stock is currently owned by insiders.

About Fastenal

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.