Insigneo Advisory Services LLC Purchases 2,911 Shares of Fastenal Company $FAST

Insigneo Advisory Services LLC raised its position in shares of Fastenal Company (NASDAQ:FAST) by 97.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,911 shares of the company’s stock after buying an additional 2,911 shares during the period. Insigneo Advisory Services LLC’s holdings in Fastenal were worth $248,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of FAST. Vanguard Group Inc. increased its stake in shares of Fastenal by 103.5% in the second quarter. Vanguard Group Inc. now owns 149,169,494 shares of the company’s stock valued at $6,265,119,000 after buying an additional 75,852,223 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Fastenal by 103.4% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 45,995,937 shares of the company’s stock valued at $1,931,830,000 after buying an additional 23,380,022 shares during the period. Geode Capital Management LLC increased its position in Fastenal by 103.8% in the second quarter. Geode Capital Management LLC now owns 35,984,281 shares of the company’s stock worth $1,506,141,000 after purchasing an additional 18,329,847 shares during the period. Bank of New York Mellon Corp raised its stake in shares of Fastenal by 87.9% during the second quarter. Bank of New York Mellon Corp now owns 34,851,036 shares of the company’s stock worth $1,463,743,000 after buying an additional 16,308,254 shares during the last quarter. Finally, Envestnet Asset Management Inc. lifted its stake in shares of Fastenal by 103.5% in the 2nd quarter. Envestnet Asset Management Inc. now owns 9,734,500 shares of the company’s stock valued at $408,849,000 after purchasing an additional 4,950,503 shares during the period. 81.38% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Fastenal

In other news, Director Sarah N. Nielsen bought 1,000 shares of the stock in a transaction that occurred on Wednesday, November 19th. The shares were acquired at an average cost of $39.60 per share, for a total transaction of $39,600.00. Following the completion of the acquisition, the director owned 5,000 shares in the company, valued at approximately $198,000. This represents a 25.00% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Hsenghung Sam Hsu purchased 1,000 shares of the company’s stock in a transaction on Thursday, November 13th. The shares were purchased at an average cost of $49.58 per share, for a total transaction of $49,580.00. Following the completion of the transaction, the director directly owned 10,000 shares of the company’s stock, valued at approximately $495,800. This represents a 11.11% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders purchased 3,000 shares of company stock valued at $131,630 over the last three months. 0.37% of the stock is owned by company insiders.

Fastenal Price Performance

Shares of NASDAQ FAST opened at $40.30 on Thursday. 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 business has a 50-day moving average of $43.48 and a 200-day moving average of $44.39. The stock has a market capitalization of $46.27 billion, a price-to-earnings ratio of 37.66, a PEG ratio of 3.75 and a beta of 0.92. Fastenal Company has a fifty-two week low of $35.31 and a fifty-two week high of $50.63.

Fastenal (NASDAQ:FAST) last released its earnings results on Tuesday, October 14th. The company reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.01). The company had revenue of $2.13 billion for the quarter, compared to the consensus estimate of $2.13 billion. Fastenal had a return on equity of 32.69% and a net margin of 15.34%.The business’s revenue was up 11.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.26 EPS. As a group, sell-side analysts predict that Fastenal Company will post 2.15 earnings per share for the current fiscal year.

Fastenal Announces Dividend

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

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on FAST shares. Weiss Ratings reissued a “buy (b)” rating on shares of Fastenal in a research report on Wednesday, October 8th. JPMorgan Chase & Co. boosted their price target on Fastenal from $41.00 to $46.00 and gave the company a “neutral” rating in a report on Thursday, September 4th. Baird R W raised Fastenal from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 7th. Robert W. Baird decreased their price objective on Fastenal from $53.00 to $49.00 and set an “outperform” rating for the company in a report on Tuesday, October 14th. Finally, Wolfe Research upgraded Fastenal from an “underperform” rating to a “peer perform” rating and set a $43.00 target price on the stock in a research note on Thursday, November 13th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $46.32.

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.