Fastenal Company $FAST Shares Purchased by Rowlandmiller & PARTNERS.ADV

Rowlandmiller & PARTNERS.ADV increased its holdings in shares of Fastenal Company (NASDAQ:FAST) by 100.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,454 shares of the company’s stock after acquiring an additional 7,227 shares during the quarter. Rowlandmiller & PARTNERS.ADV’s holdings in Fastenal were worth $607,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. boosted its position in Fastenal by 8.9% during the first quarter. Charles Schwab Investment Management Inc. now owns 22,615,915 shares of the company’s stock worth $1,753,864,000 after acquiring an additional 1,850,871 shares during the last quarter. Picton Mahoney Asset Management boosted its position in Fastenal by 7.5% during the first quarter. Picton Mahoney Asset Management now owns 181,482 shares of the company’s stock worth $14,074,000 after acquiring an additional 12,721 shares during the last quarter. KLP Kapitalforvaltning AS boosted its holdings in Fastenal by 3.9% in the 1st quarter. KLP Kapitalforvaltning AS now owns 195,748 shares of the company’s stock valued at $15,180,000 after purchasing an additional 7,400 shares during the last quarter. Raiffeisen Bank International AG boosted its holdings in Fastenal by 21.5% in the 1st quarter. Raiffeisen Bank International AG now owns 35,606 shares of the company’s stock valued at $2,712,000 after purchasing an additional 6,303 shares during the last quarter. Finally, Deutsche Bank AG boosted its holdings in Fastenal by 23.9% in the 1st quarter. Deutsche Bank AG now owns 2,459,124 shares of the company’s stock valued at $190,705,000 after purchasing an additional 473,987 shares during the last quarter. 81.38% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Fastenal

In other news, EVP John Lewis Soderberg sold 34,612 shares of the business’s stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $48.03, for a total value of $1,662,414.36. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP William Joseph Drazkowski sold 6,842 shares of the business’s stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $48.67, for a total transaction of $333,000.14. Following the completion of the sale, the executive vice president directly owned 11,994 shares in the company, valued at $583,747.98. This trade represents a 36.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 111,230 shares of company stock valued at $5,288,364 over the last 90 days. Insiders own 0.37% of the company’s stock.

Analysts Set New Price Targets

FAST has been the topic of several recent analyst reports. Baird R W upgraded shares of Fastenal from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 7th. Robert W. Baird upgraded shares of Fastenal from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $47.00 to $55.00 in a report on Thursday, August 7th. Northcoast Research initiated coverage on shares of Fastenal in a report on Thursday, August 21st. They issued a “neutral” rating on the stock. JPMorgan Chase & Co. boosted their target price on shares of Fastenal from $41.00 to $46.00 and gave the company a “neutral” rating in a report on Thursday, September 4th. Finally, Stephens boosted their target price on shares of Fastenal from $40.00 to $45.00 and gave the company an “equal weight” rating in a report on Tuesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $46.82.

Fastenal Price Performance

Fastenal stock opened at $47.45 on Friday. The company’s 50 day simple moving average is $47.42 and its 200-day simple moving average is $42.54. The company has a market capitalization of $54.46 billion, a price-to-earnings ratio of 45.63, a price-to-earnings-growth ratio of 4.30 and a beta of 0.97. Fastenal Company has a 1 year low of $34.67 and a 1 year high of $50.63. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.12 and a current ratio of 4.22.

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

Fastenal Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 26th. Stockholders of record on Tuesday, July 29th were paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend was Tuesday, July 29th. Fastenal’s payout ratio is 84.62%.

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.