X Square Capital LLC Buys Shares of 33,869 Fastenal Company $FAST

X Square Capital LLC purchased a new position in Fastenal Company (NASDAQ:FAST) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 33,869 shares of the company’s stock, valued at approximately $1,627,000.

A number of other institutional investors have also recently made changes to their positions in FAST. Elyxium Wealth LLC purchased a new stake in shares of Fastenal during the 4th quarter valued at $25,000. Palladiem LLC purchased a new position in Fastenal in the fourth quarter worth $25,000. Evergreen Advisors LLC purchased a new position in Fastenal in the first quarter worth $26,000. Mowery & Schoenfeld Wealth Management LLC bought a new position in Fastenal in the second quarter valued at $26,000. Finally, MV Capital Management Inc. bought a new position in Fastenal in the fourth quarter valued at $29,000. Institutional investors own 81.38% of the company’s stock.

Fastenal Price Performance

FAST stock opened at $51.26 on Friday. The firm has a market cap of $58.82 billion, a P/E ratio of 43.44, a P/E/G ratio of 3.20 and a beta of 0.72. The firm’s fifty day moving average is $47.96 and its 200 day moving average is $46.37. Fastenal Company has a 52 week low of $38.97 and a 52 week high of $52.92. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.21 and a current ratio of 4.18.

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

Fastenal Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 25th. Stockholders of record on Tuesday, July 28th will be issued a $0.26 dividend. This is an increase from Fastenal’s previous quarterly dividend of $0.24. This represents a $1.04 annualized dividend and a dividend yield of 2.0%. The ex-dividend date is Tuesday, July 28th. Fastenal’s dividend payout ratio (DPR) is presently 88.14%.

Insider Transactions at Fastenal

In related news, Director Michael J. Ancius sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $49.00, for a total transaction of $147,000.00. Following the transaction, the director directly owned 58,690 shares in the company, valued at $2,875,810. This trade represents a 4.86% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Rita J. Heise sold 34,964 shares of Fastenal stock in a transaction that occurred on 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 transaction, the director directly owned 20,000 shares in the company, valued at $1,001,000. This trade represents a 63.61% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.28% of the company’s stock.

Analysts Set New Price Targets

FAST has been the topic of a number of research reports. Weiss Ratings downgraded Fastenal from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, July 21st. Sanford C. Bernstein reiterated an “underperform” rating on shares of Fastenal in a report on Wednesday, July 15th. Jefferies Financial Group reiterated a “buy” rating on shares of Fastenal in a research report on Thursday, June 4th. Robert W. Baird set a $54.00 price objective on Fastenal in a report on Friday, August 7th. Finally, Barclays dropped their target price on Fastenal from $47.00 to $46.00 and set an “equal weight” rating for the company in a research report on Thursday, July 16th. Five analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $49.17.

About Fastenal

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.