Schwarz Dygos Wheeler Investment Advisors LLC Grows Position in Fastenal Company $FAST

Schwarz Dygos Wheeler Investment Advisors LLC increased its position in Fastenal Company (NASDAQ:FAST) by 100.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,158 shares of the company’s stock after purchasing an additional 5,079 shares during the period. Schwarz Dygos Wheeler Investment Advisors LLC’s holdings in Fastenal were worth $427,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. 1248 Management LLC bought a new stake in shares of Fastenal during the 1st quarter valued at $36,000. Riverview Trust Co lifted its position in Fastenal by 100.0% during the 2nd 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 period. Zions Bancorporation National Association UT bought a new stake in Fastenal during the first quarter worth about $49,000. Private Wealth Management Group LLC grew 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 worth $27,000 after purchasing an additional 339 shares during the period. Finally, Hilltop National Bank purchased a new stake in Fastenal in the second quarter worth about $27,000. Institutional investors own 81.38% of the company’s stock.

Fastenal Price Performance

Shares of NASDAQ:FAST opened at $40.75 on Friday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.19 and a current ratio of 4.26. The firm has a market cap of $46.78 billion, a price-to-earnings ratio of 38.08, a price-to-earnings-growth ratio of 3.75 and a beta of 0.92. The business has a 50-day simple moving average of $44.89 and a two-hundred day simple moving average of $44.37. Fastenal Company has a fifty-two week low of $35.31 and a fifty-two week high of $50.63.

Fastenal (NASDAQ:FAST) last announced its quarterly earnings results on Tuesday, October 14th. The company reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.01). Fastenal had a return on equity of 32.69% and a net margin of 15.34%.The company had revenue of $2.13 billion during the quarter, compared to the consensus estimate of $2.13 billion. During the same quarter in the prior year, the firm earned $0.26 earnings per share. The business’s revenue was up 11.7% compared to the same quarter last year. On average, analysts expect that Fastenal Company will post 2.15 earnings per share for the current year.

Fastenal Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 25th. Shareholders of record on Tuesday, October 28th will be paid a dividend of $0.22 per share. The ex-dividend date is Tuesday, October 28th. This represents a $0.88 dividend on an annualized basis and a yield of 2.2%. Fastenal’s payout ratio is currently 82.24%.

Insider Buying and Selling at Fastenal

In other news, Director Hsenghung Sam Hsu purchased 1,000 shares of the stock in a transaction dated Thursday, October 16th. The shares were purchased at an average cost of $42.45 per share, with a total value of $42,450.00. Following 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 ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.37% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

FAST has been the topic of a number of analyst reports. Robert W. Baird dropped their price target on Fastenal from $53.00 to $49.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 14th. Baird R W raised Fastenal from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 7th. Wolfe Research upgraded Fastenal from an “underperform” rating to a “peer perform” rating and set a $43.00 price target for the company in a report on Thursday. Northcoast Research started coverage on shares of Fastenal in a research note on Thursday, August 21st. They issued a “neutral” rating on the stock. Finally, Sanford C. Bernstein started coverage on shares of Fastenal in a research note on Tuesday. They set an “underperform” rating and a $38.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $46.32.

About Fastenal

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.