TCM Advisors LLC Makes New Investment in Fastenal Company $FAST

TCM Advisors LLC bought a new stake in shares of Fastenal Company (NASDAQ:FAST) during the second quarter, Holdings Channel reports. The fund bought 14,800 shares of the company’s stock, valued at approximately $711,000.

Other large investors have also modified their holdings of the company. Mowery & Schoenfeld Wealth Management LLC bought a new position in shares of Fastenal during the second quarter valued at approximately $26,000. Evergreen Advisors LLC bought a new position in Fastenal in the first quarter worth approximately $26,000. Palladiem LLC bought a new position in Fastenal in the fourth quarter worth approximately $25,000. Elyxium Wealth LLC purchased a new stake in Fastenal during the fourth quarter worth $25,000. Finally, MV Capital Management Inc. bought a new stake in Fastenal during the 4th quarter valued at $29,000. Institutional investors own 81.38% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on FAST shares. DA Davidson reiterated a “neutral” rating and issued a $46.00 price target on shares of Fastenal in a report on Wednesday, July 15th. Barclays decreased their price objective on Fastenal from $47.00 to $46.00 and set an “equal weight” rating for the company in a research note on Thursday, July 16th. Rothschild & Co Redburn set a $55.00 price objective on Fastenal and gave the company a “buy” rating in a research report on Monday, July 13th. Jefferies Financial Group reiterated a “buy” rating on shares of Fastenal in a research note on Thursday, June 4th. Finally, Weiss Ratings downgraded shares of Fastenal from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, July 21st. Five investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Fastenal has a consensus rating of “Hold” and an average target price of $49.17.

Fastenal Stock Performance

NASDAQ:FAST opened at $51.26 on Monday. The stock has a market capitalization of $58.82 billion, a price-to-earnings ratio of 43.44, a PEG ratio of 3.20 and a beta of 0.72. Fastenal Company has a 52 week low of $38.97 and a 52 week high of $52.92. The company has a quick ratio of 2.21, a current ratio of 4.18 and a debt-to-equity ratio of 0.01. The firm has a 50 day moving average of $47.96 and a 200 day moving average of $46.38.

Fastenal (NASDAQ:FAST) last released its quarterly earnings results on Tuesday, July 14th. The company reported $0.33 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.33. The business had revenue of $2.39 billion for the quarter, compared to analyst estimates of $2.34 billion. Fastenal had a net margin of 15.45% and a return on equity of 34.03%. The business’s revenue for the quarter was up 14.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.29 earnings per share. As a group, sell-side analysts anticipate that Fastenal Company will post 1.26 earnings per share for the current fiscal year.

Fastenal Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 25th. Stockholders of record on Tuesday, July 28th will be given a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend is Tuesday, July 28th. This is a positive change from Fastenal’s previous quarterly dividend of $0.24. Fastenal’s payout ratio is 88.14%.

Insider Buying and Selling at Fastenal

In other Fastenal news, Director Michael J. Ancius sold 3,000 shares of the stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $49.00, for a total value of $147,000.00. Following the completion of the sale, the director directly owned 58,690 shares in the company, valued at approximately $2,875,810. This trade represents a 4.86% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Rita J. Heise sold 34,964 shares of the firm’s stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $50.05, for a total value of $1,749,948.20. Following the completion of the sale, the director directly owned 20,000 shares of the company’s stock, valued at approximately $1,001,000. This represents a 63.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.28% of the stock is owned by insiders.

Fastenal Company Profile

Fastenal (NASDAQ: FAST) is a wholesale distributor of industrial and construction supplies, best known for its broad assortment of fasteners such as bolts, nuts, screws and anchors. Founded in Winona, Minnesota, Fastenal has grown from a regional supplier into a national and international distributor serving a wide range of end markets, including manufacturing, construction, maintenance, repair and operations (MRO), and government customers. The company is publicly traded and operates through a network of locally staffed branches combined with national distribution capabilities.

Product offerings extend beyond fasteners to include tools, safety and personal protective equipment, power transmission components, cutting and welding supplies, janitorial and material handling items, and other industrial consumables.