Boston Family Office LLC Grows Stock Holdings in Fastenal Company $FAST

Boston Family Office LLC grew its position in Fastenal Company (NASDAQ:FAST) by 98.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,600 shares of the company’s stock after buying an additional 6,750 shares during the quarter. Boston Family Office LLC’s holdings in Fastenal were worth $571,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. grew its position in Fastenal by 103.5% in the 2nd quarter. Vanguard Group Inc. now owns 149,169,494 shares of the company’s stock valued at $6,265,119,000 after acquiring an additional 75,852,223 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Fastenal by 103.4% in the second quarter. Charles Schwab Investment Management Inc. now owns 45,995,937 shares of the company’s stock valued at $1,931,830,000 after purchasing an additional 23,380,022 shares during the period. Geode Capital Management LLC grew its holdings in shares of Fastenal by 103.8% in the second quarter. Geode Capital Management LLC now owns 35,984,281 shares of the company’s stock valued at $1,506,141,000 after purchasing an additional 18,329,847 shares in the last quarter. Bank of New York Mellon Corp increased its stake in Fastenal by 87.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 34,851,036 shares of the company’s stock worth $1,463,743,000 after buying an additional 16,308,254 shares during the period. Finally, Norges Bank acquired a new stake in Fastenal during the 2nd quarter worth approximately $638,648,000. Institutional investors and hedge funds own 81.38% of the company’s stock.

Insider Transactions at Fastenal

In other news, Director Hsenghung Sam Hsu purchased 1,000 shares of the company’s stock in a transaction that occurred on Thursday, November 13th. The shares were purchased at an average price of $49.58 per share, for a total transaction of $49,580.00. Following the purchase, the director directly owned 10,000 shares of the company’s stock, valued at $495,800. This represents a 11.11% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Sarah N. Nielsen purchased 1,000 shares of the business’s stock in a transaction on Wednesday, November 19th. The shares were purchased at an average cost of $39.60 per share, for a total transaction of $39,600.00. Following the transaction, the director owned 5,000 shares of the company’s stock, valued at $198,000. This trade represents a 25.00% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last three months, insiders purchased 3,000 shares of company stock valued at $131,630. Insiders own 0.37% of the company’s stock.

Fastenal Trading Down 0.6%

Shares of Fastenal stock opened at $40.15 on Tuesday. The company has a fifty day simple moving average of $43.06 and a 200-day simple moving average of $44.42. Fastenal Company has a 12-month low of $35.31 and a 12-month high of $50.63. The company has a current ratio of 4.26, a quick ratio of 2.19 and a debt-to-equity ratio of 0.03. The stock has a market cap of $46.09 billion, a price-to-earnings ratio of 37.52, a PEG ratio of 3.75 and a beta of 0.92.

Fastenal (NASDAQ:FAST) last announced its quarterly earnings results on Tuesday, October 14th. The company reported $0.29 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.01). Fastenal had a return on equity of 32.69% and a net margin of 15.34%.The company had revenue of $2.13 billion for the quarter, compared to analyst estimates of $2.13 billion. During the same quarter in the prior year, the business earned $0.26 earnings per share. Fastenal’s revenue was up 11.7% compared to the same quarter last year. On average, equities analysts forecast that Fastenal Company will post 2.15 EPS for the current fiscal year.

Fastenal Dividend Announcement

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

Analyst Upgrades and Downgrades

FAST has been the subject of several research reports. Barclays dropped their price target on shares of Fastenal from $45.00 to $44.00 and set an “equal weight” rating for the company in a research note on Thursday, November 13th. Weiss Ratings reissued a “buy (b)” rating on shares of Fastenal in a research note on Wednesday, October 8th. Northcoast Research started coverage on Fastenal in a research report on Thursday, August 21st. They issued a “neutral” rating on the stock. Baird R W raised Fastenal from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 7th. Finally, JPMorgan Chase & Co. upped their target price on shares of Fastenal from $41.00 to $46.00 and gave the stock a “neutral” rating in a research note on Thursday, September 4th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $46.32.

Fastenal 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.