J. W. Coons Advisors LLC Boosts Stock Position in Fastenal Company $FAST

J. W. Coons Advisors LLC grew its stake in Fastenal Company (NASDAQ:FAST) by 100.7% in the second quarter, Holdings Channel.com reports. The firm owned 128,327 shares of the company’s stock after acquiring an additional 64,372 shares during the quarter. Fastenal makes up approximately 1.2% of J. W. Coons Advisors LLC’s investment portfolio, making the stock its 18th biggest position. J. W. Coons Advisors LLC’s holdings in Fastenal were worth $5,390,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. Riverview Trust Co lifted its holdings in Fastenal by 100.0% in the second quarter. Riverview Trust Co now owns 584 shares of the company’s stock valued at $25,000 after acquiring an additional 292 shares during the last quarter. Hilltop National Bank acquired a new position in Fastenal in the second quarter valued at approximately $27,000. Private Wealth Management Group LLC lifted its holdings in Fastenal by 111.9% in the second quarter. Private Wealth Management Group LLC now owns 642 shares of the company’s stock valued at $27,000 after acquiring an additional 339 shares during the last quarter. Armstrong Advisory Group Inc. lifted its holdings in Fastenal by 100.0% in the second 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 holdings in Fastenal by 95.0% in the second quarter. AdvisorNet Financial Inc now owns 702 shares of the company’s stock valued at $29,000 after acquiring an additional 342 shares during the last quarter. 81.38% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently commented on FAST. Loop Capital reiterated a “hold” rating on shares of Fastenal in a report on Tuesday, July 15th. Weiss Ratings reiterated a “buy (b)” rating on shares of Fastenal in a report on Wednesday, October 8th. Robert W. Baird decreased their price target on Fastenal from $53.00 to $49.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 14th. Barclays set a $45.00 price target on Fastenal and gave the stock an “equal weight” rating in a research note on Tuesday, October 14th. Finally, Baird R W upgraded Fastenal from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 7th. One 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 given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $46.50.

Fastenal Stock Down 0.3%

Shares of NASDAQ FAST opened at $41.04 on Tuesday. The stock has a market cap of $47.12 billion, a P/E ratio of 38.36, a PEG ratio of 3.75 and a beta of 0.94. The company has a current ratio of 4.26, a quick ratio of 2.19 and a debt-to-equity ratio of 0.03. Fastenal Company has a 12-month low of $35.31 and a 12-month high of $50.63. The business’s fifty day simple moving average is $46.28 and its 200-day simple moving average is $44.39.

Fastenal (NASDAQ:FAST) last announced its quarterly earnings data on Monday, October 13th. 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 during the quarter, compared to analyst estimates of $2.13 billion. Fastenal had a net margin of 15.34% and a return on equity of 32.69%. The firm’s revenue was up 11.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.26 earnings per share. As a group, equities analysts predict that Fastenal Company will post 2.15 EPS for the current fiscal year.

Fastenal Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 25th. Stockholders of record on Tuesday, October 28th will be paid a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 2.1%. The ex-dividend date is Tuesday, October 28th. Fastenal’s dividend payout ratio (DPR) is presently 82.24%.

Insider Buying and Selling

In other Fastenal news, Director Hsenghung Sam Hsu bought 1,000 shares of the company’s stock in a transaction that occurred on Thursday, October 16th. The shares were purchased at an average price of $42.45 per share, with a total value of $42,450.00. Following the completion of the acquisition, the director directly owned 9,000 shares of the company’s stock, valued at $382,050. This represents a 12.50% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP William Joseph Drazkowski sold 6,842 shares of the stock in a transaction on 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 transaction, 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 position. The SEC filing for this sale provides additional information. Insiders have sold a total of 90,178 shares of company stock valued at $4,336,603 in the last three months. 0.37% of the stock is currently owned by insiders.

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.