TD Private Client Wealth LLC Buys 1,423 Shares of Fastenal Company $FAST

TD Private Client Wealth LLC lifted its stake in Fastenal Company (NASDAQ:FAST) by 126.5% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,548 shares of the company’s stock after buying an additional 1,423 shares during the quarter. TD Private Client Wealth LLC’s holdings in Fastenal were worth $107,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Oregon Public Employees Retirement Fund grew its holdings in Fastenal by 0.3% during the first quarter. Oregon Public Employees Retirement Fund now owns 49,219 shares of the company’s stock worth $3,817,000 after acquiring an additional 130 shares during the period. Welch & Forbes LLC grew its holdings in Fastenal by 0.4% during the first quarter. Welch & Forbes LLC now owns 32,992 shares of the company’s stock worth $2,559,000 after acquiring an additional 135 shares during the period. Principal Securities Inc. grew its holdings in Fastenal by 0.9% during the first quarter. Principal Securities Inc. now owns 15,886 shares of the company’s stock worth $1,142,000 after acquiring an additional 140 shares during the period. Salvus Wealth Management LLC grew its holdings in Fastenal by 1.6% during the first quarter. Salvus Wealth Management LLC now owns 9,000 shares of the company’s stock worth $698,000 after acquiring an additional 141 shares during the period. Finally, Essex Financial Services Inc. grew its holdings in Fastenal by 1.7% during the first quarter. Essex Financial Services Inc. now owns 8,870 shares of the company’s stock worth $688,000 after acquiring an additional 147 shares during the period. Institutional investors own 81.38% of the company’s stock.

Insider Transactions at Fastenal

In related news, insider Jeffery Michael Watts sold 48,724 shares of the business’s stock in a transaction on Friday, August 8th. The stock was sold at an average price of $48.05, for a total transaction of $2,341,188.20. Following the completion of the transaction, the insider directly owned 11,880 shares of the company’s stock, valued at $570,834. The trade was a 80.40% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Sheryl Ann Lisowski sold 21,052 shares of the business’s stock in a transaction on Thursday, July 17th. The stock was sold at an average price of $45.21, for a total value of $951,760.92. Following the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 111,230 shares of company stock worth $5,288,364 over the last quarter. 0.37% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have commented on FAST. Wolfe Research reissued a “positive” rating on shares of Fastenal in a report on Monday, July 14th. Morgan Stanley set a $40.00 price objective on Fastenal and gave the company an “equal weight” rating in a report on Thursday, July 3rd. Loop Capital reissued a “hold” rating on shares of Fastenal in a report on Tuesday, July 15th. Baird R W raised Fastenal from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 7th. Finally, Stephens raised their price objective on Fastenal from $40.00 to $45.00 and gave the company an “equal weight” rating in a report on Tuesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Fastenal has an average rating of “Hold” and an average target price of $46.82.

Fastenal Price Performance

FAST stock opened at $48.87 on Tuesday. The company has a current ratio of 4.22, a quick ratio of 2.12 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $56.09 billion, a PE ratio of 46.99, a P/E/G ratio of 4.43 and a beta of 0.97. Fastenal Company has a 12-month low of $34.69 and a 12-month high of $50.63. The business’s fifty day moving average price is $48.13 and its 200 day moving average price is $43.35.

Fastenal (NASDAQ:FAST) last posted its quarterly earnings data on Monday, July 14th. The company reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.01. The firm had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $2.07 billion. Fastenal had a return on equity of 32.33% and a net margin of 15.30%.The company’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.25 EPS. On average, sell-side analysts anticipate that Fastenal Company will post 2.15 EPS for the current year.

Fastenal Cuts Dividend

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

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.