RD Lewis Holdings Inc. Increases Stock Holdings in Fastenal Company (NASDAQ:FAST)

RD Lewis Holdings Inc. grew its stake in shares of Fastenal Company (NASDAQ:FAST) by 6.5% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,022 shares of the company’s stock after buying an additional 672 shares during the period. RD Lewis Holdings Inc.’s holdings in Fastenal were worth $905,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in FAST. Horizon Financial Services LLC increased its position in shares of Fastenal by 5,330.0% during the 1st quarter. Horizon Financial Services LLC now owns 543 shares of the company’s stock valued at $42,000 after purchasing an additional 533 shares during the last quarter. Itau Unibanco Holding S.A. lifted its stake in shares of Fastenal by 481.9% during the 4th quarter. Itau Unibanco Holding S.A. now owns 611 shares of the company’s stock worth $44,000 after purchasing an additional 506 shares during the last quarter. TruNorth Capital Management LLC purchased a new stake in shares of Fastenal during the 1st quarter worth $57,000. Golden State Wealth Management LLC lifted its stake in shares of Fastenal by 5,661.5% during the 1st quarter. Golden State Wealth Management LLC now owns 749 shares of the company’s stock worth $58,000 after purchasing an additional 736 shares during the last quarter. Finally, TD Private Client Wealth LLC increased its position in Fastenal by 31.1% during the 4th quarter. TD Private Client Wealth LLC now owns 1,381 shares of the company’s stock valued at $99,000 after buying an additional 328 shares in the last quarter. 81.38% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Stifel Nicolaus set a $82.00 target price on Fastenal in a report on Thursday, July 3rd. JPMorgan Chase & Co. raised their target price on Fastenal from $38.00 to $41.00 and gave the stock a “neutral” rating in a report on Tuesday, July 15th. Morgan Stanley set a $40.00 target price on Fastenal and gave the stock an “equal weight” rating in a report on Thursday, July 3rd. Robert W. Baird increased their price target on Fastenal from $43.00 to $47.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 15th. Finally, Wolfe Research reiterated a “positive” rating on shares of Fastenal in a research report on Monday, July 14th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $45.64.

Insiders Place Their Bets

In related news, CFO Sheryl Ann Lisowski sold 21,052 shares of the business’s 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 transaction, the chief financial officer owned 10,192 shares in the company, valued at $460,780.32. The trade was a 67.38% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP John Lewis Soderberg sold 32,724 shares of the business’s stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $41.23, for a total value of $1,349,046.90. The disclosure for this sale can be found here. In the last three months, insiders sold 184,252 shares of company stock worth $7,627,735. Corporate insiders own 0.37% of the company’s stock.

Fastenal Price Performance

FAST stock opened at $47.08 on Wednesday. The business has a fifty day moving average of $42.08 and a two-hundred day moving average of $39.52. The company has a quick ratio of 2.12, a current ratio of 4.22 and a debt-to-equity ratio of 0.03. The stock has a market cap of $54.03 billion, a price-to-earnings ratio of 45.27, a price-to-earnings-growth ratio of 4.20 and a beta of 0.96. Fastenal Company has a 52-week low of $32.04 and a 52-week high of $47.11.

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

Fastenal Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 26th. Shareholders of record on Tuesday, July 29th will be issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 1.87%. The ex-dividend date is Tuesday, July 29th. Fastenal’s dividend payout ratio (DPR) 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.