Roundview Capital LLC Boosts Stock Holdings in Fastenal Company $FAST

Roundview Capital LLC raised its holdings in shares of Fastenal Company (NASDAQ:FAST) by 103.1% during the second quarter, HoldingsChannel reports. The firm owned 234,499 shares of the company’s stock after purchasing an additional 119,026 shares during the period. Roundview Capital LLC’s holdings in Fastenal were worth $9,849,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Brighton Jones LLC purchased a new position in shares of Fastenal in the 4th quarter worth approximately $496,000. NBC Securities Inc. grew its position in shares of Fastenal by 174,400.0% in the 1st quarter. NBC Securities Inc. now owns 1,745 shares of the company’s stock worth $135,000 after buying an additional 1,744 shares during the last quarter. Gateway Investment Advisers LLC grew its position in shares of Fastenal by 18.6% in the 1st quarter. Gateway Investment Advisers LLC now owns 18,972 shares of the company’s stock worth $1,471,000 after buying an additional 2,980 shares during the last quarter. Wedmont Private Capital grew its position in shares of Fastenal by 18.7% in the 1st quarter. Wedmont Private Capital now owns 8,644 shares of the company’s stock worth $697,000 after buying an additional 1,363 shares during the last quarter. Finally, RDA Financial Network purchased a new position in shares of Fastenal in the 1st quarter worth approximately $207,000. Hedge funds and other institutional investors own 81.38% of the company’s stock.

Fastenal Stock Down 0.2%

FAST stock opened at $47.78 on Tuesday. The firm has a 50 day moving average of $48.20 and a 200 day moving average of $43.71. The stock has a market capitalization of $54.83 billion, a PE ratio of 45.94, a price-to-earnings-growth ratio of 4.34 and a beta of 0.94. The company has a quick ratio of 2.12, a current ratio of 4.22 and a debt-to-equity ratio of 0.03. Fastenal Company has a 52 week low of $34.69 and a 52 week high of $50.63.

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

Fastenal Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 26th. Shareholders of record on Tuesday, July 29th were paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 1.8%. The ex-dividend date was Tuesday, July 29th. Fastenal’s payout ratio is presently 84.62%.

Insider Buying and Selling at Fastenal

In other Fastenal news, EVP William Joseph Drazkowski sold 6,842 shares of Fastenal 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 approximately $583,747.98. The trade was a 36.32% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Jeffery Michael Watts sold 48,724 shares of Fastenal stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $48.05, for a total transaction of $2,341,188.20. Following the sale, the insider owned 11,880 shares of the company’s stock, valued at approximately $570,834. The trade was a 80.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 111,230 shares of company stock valued at $5,288,364. 0.37% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on FAST. Northcoast Research began coverage on shares of Fastenal in a research report on Thursday, August 21st. They issued a “neutral” rating on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Fastenal from $41.00 to $46.00 and gave the stock a “neutral” rating in a research report on Thursday, September 4th. Loop Capital reaffirmed a “hold” rating on shares of Fastenal in a research report on Tuesday, July 15th. Wolfe Research reaffirmed a “positive” rating on shares of Fastenal in a research report on Monday, July 14th. Finally, Morgan Stanley set a $40.00 target price on shares of Fastenal and gave the stock an “equal weight” rating in a research note on Thursday, July 3rd. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Fastenal has an average rating of “Hold” and an average price target of $47.25.

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.