Choreo LLC Acquires 7,670 Shares of Fastenal Company $FAST

Choreo LLC raised its holdings in Fastenal Company (NASDAQ:FAST) by 32.9% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 31,010 shares of the company’s stock after purchasing an additional 7,670 shares during the period. Choreo LLC’s holdings in Fastenal were worth $1,302,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the business. Integrated Wealth Concepts LLC grew its position in Fastenal by 2.4% during the first quarter. Integrated Wealth Concepts LLC now owns 6,276 shares of the company’s stock worth $487,000 after buying an additional 147 shares in the last quarter. Advisory Alpha LLC lifted its position in shares of Fastenal by 5.8% during the 1st quarter. Advisory Alpha LLC now owns 3,407 shares of the company’s stock valued at $264,000 after acquiring an additional 187 shares during the period. Riverview Trust Co grew its holdings in shares of Fastenal by 100.0% during the 2nd quarter. Riverview Trust Co now owns 584 shares of the company’s stock worth $25,000 after purchasing an additional 292 shares in the last quarter. Cary Street Partners Investment Advisory LLC increased its position in shares of Fastenal by 10.5% in the first quarter. Cary Street Partners Investment Advisory LLC now owns 3,329 shares of the company’s stock worth $258,000 after purchasing an additional 317 shares during the period. Finally, Financial Network Wealth Advisors LLC raised its stake in Fastenal by 19.4% in the first quarter. Financial Network Wealth Advisors LLC now owns 1,980 shares of the company’s stock valued at $154,000 after purchasing an additional 322 shares in the last quarter. 81.38% of the stock is owned by institutional investors.

Fastenal Price Performance

Shares of FAST opened at $40.42 on Friday. The company has a quick ratio of 2.19, a current ratio of 4.26 and a debt-to-equity ratio of 0.03. The stock has a market cap of $46.40 billion, a PE ratio of 37.77, a PEG ratio of 3.75 and a beta of 0.92. Fastenal Company has a 12-month low of $35.31 and a 12-month high of $50.63. The business has a 50-day simple moving average of $43.20 and a two-hundred day simple moving average of $44.39.

Fastenal (NASDAQ:FAST) last released its quarterly earnings results on Tuesday, October 14th. The company reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.01). The firm had revenue of $2.13 billion for the quarter, compared to the consensus estimate of $2.13 billion. Fastenal had a return on equity of 32.69% and a net margin of 15.34%.The business’s revenue for the quarter was up 11.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.26 earnings per share. Analysts anticipate that Fastenal Company will post 2.15 earnings per share for the current fiscal year.

Fastenal Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 25th. Stockholders of record on Tuesday, October 28th were issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date was Tuesday, October 28th. Fastenal’s payout ratio is 82.24%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on FAST shares. Wolfe Research raised shares of Fastenal from an “underperform” rating to a “peer perform” rating and set a $43.00 target price on the stock in a report on Thursday, November 13th. Northcoast Research assumed coverage on shares of Fastenal in a research note on Thursday, August 21st. They issued a “neutral” rating on the stock. Baird R W upgraded shares of Fastenal from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 7th. Barclays reduced their target price on Fastenal from $45.00 to $44.00 and set an “equal weight” rating on the stock in a report on Thursday, November 13th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Fastenal in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $46.32.

Insider Buying and Selling at Fastenal

In other Fastenal news, Director Hsenghung Sam Hsu acquired 1,000 shares of Fastenal stock in a transaction that occurred on Thursday, November 13th. The shares were bought at an average price of $49.58 per share, with a total value of $49,580.00. Following the completion of the purchase, the director directly owned 10,000 shares in the company, valued at $495,800. This trade represents a 11.11% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Sarah N. Nielsen bought 1,000 shares of the stock in a transaction that occurred on Wednesday, November 19th. The shares were bought at an average cost of $39.60 per share, with a total value of $39,600.00. Following the completion of the transaction, the director owned 5,000 shares in the company, valued at $198,000. The trade was a 25.00% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last three months, insiders purchased 3,000 shares of company stock worth $131,630. 0.37% of the stock is currently owned by insiders.

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.