SRH Advisors LLC Has $34,000 Position in Fastenal Company $FAST

SRH Advisors LLC boosted its holdings in Fastenal Company (NASDAQ:FAST) by 100.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 800 shares of the company’s stock after buying an additional 400 shares during the period. SRH Advisors LLC’s holdings in Fastenal were worth $34,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of FAST. Fenimore Asset Management Inc lifted its holdings in Fastenal by 101.0% in the second quarter. Fenimore Asset Management Inc now owns 3,747,704 shares of the company’s stock valued at $157,404,000 after buying an additional 1,883,419 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Fastenal by 8.9% in the first quarter. Charles Schwab Investment Management Inc. now owns 22,615,915 shares of the company’s stock worth $1,753,864,000 after purchasing an additional 1,850,871 shares during the period. Congress Asset Management Co. acquired a new stake in Fastenal in the second quarter worth $73,733,000. Confluence Investment Management LLC raised its holdings in Fastenal by 97.5% in the second quarter. Confluence Investment Management LLC now owns 3,280,009 shares of the company’s stock worth $137,760,000 after purchasing an additional 1,619,507 shares during the period. Finally, Nuveen LLC acquired a new stake in Fastenal in the first quarter worth $119,136,000. 81.38% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have weighed in on FAST. Morgan Stanley set a $40.00 target price on shares of Fastenal and gave the stock an “equal weight” rating in a report on Thursday, July 3rd. Baird R W upgraded shares of Fastenal from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 7th. Robert W. Baird upgraded shares of Fastenal from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $47.00 to $55.00 in a report on Thursday, August 7th. Northcoast Research started coverage on shares of Fastenal in a report on Thursday, August 21st. They set a “neutral” rating on the stock. Finally, Wolfe Research restated a “positive” rating on shares of Fastenal in a report on Monday, July 14th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Fastenal has a consensus rating of “Hold” and a consensus target price of $46.82.

Fastenal Stock Performance

Shares of FAST opened at $47.88 on Monday. The firm has a 50-day moving average of $48.18 and a 200-day moving average of $43.64. Fastenal Company has a one year low of $34.69 and a one year high of $50.63. The company has a market cap of $54.95 billion, a PE ratio of 46.04, a price-to-earnings-growth ratio of 4.34 and a beta of 0.94. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.22 and a quick ratio of 2.12.

Fastenal (NASDAQ:FAST) last announced its quarterly earnings data on Monday, July 14th. The company reported $0.29 EPS for the quarter, beating 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 the consensus estimate of $2.07 billion. During the same quarter last year, the firm posted $0.25 EPS. The company’s quarterly revenue was up 8.6% on a year-over-year basis. As a group, equities analysts forecast that Fastenal Company will post 2.15 earnings per share for the current year.

Fastenal Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 26th. Stockholders of record on Tuesday, July 29th were given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend was Tuesday, July 29th. Fastenal’s dividend payout ratio (DPR) is 84.62%.

Insider Activity

In related news, EVP William Joseph Drazkowski sold 6,842 shares of Fastenal stock in a transaction dated 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 owned 11,994 shares of the company’s stock, valued at approximately $583,747.98. The trade was a 36.32% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Sheryl Ann Lisowski sold 21,052 shares of Fastenal stock in a transaction dated Thursday, July 17th. The stock was sold at an average price of $45.21, for a total transaction of $951,760.92. Following the sale, the chief financial officer directly owned 10,192 shares of the company’s stock, valued at $460,780.32. The trade was a 67.38% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 111,230 shares of company stock worth $5,288,364. Insiders own 0.37% of the company’s stock.

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.