Fastenal Company $FAST Shares Acquired by CW Advisors LLC

CW Advisors LLC boosted its position in Fastenal Company (NASDAQ:FAST) by 6,111.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 219,388 shares of the company’s stock after acquiring an additional 215,856 shares during the quarter. CW Advisors LLC’s holdings in Fastenal were worth $9,214,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Riverview Trust Co raised its holdings in shares of Fastenal by 100.0% in the 2nd quarter. Riverview Trust Co now owns 584 shares of the company’s stock valued at $25,000 after purchasing an additional 292 shares in the last quarter. Hilltop National Bank purchased a new position in Fastenal in the second quarter valued at $27,000. Private Wealth Management Group LLC raised its stake in Fastenal by 111.9% in the second quarter. Private Wealth Management Group LLC now owns 642 shares of the company’s stock valued at $27,000 after buying an additional 339 shares in the last quarter. Twin Peaks Wealth Advisors LLC purchased a new stake in Fastenal during the 2nd quarter worth about $27,000. Finally, Armstrong Advisory Group Inc. boosted its position in shares of Fastenal by 100.0% during the 2nd quarter. Armstrong Advisory Group Inc. now owns 696 shares of the company’s stock worth $29,000 after acquiring an additional 348 shares in the last quarter. Hedge funds and other institutional investors own 81.38% of the company’s stock.

Fastenal Price Performance

Shares of NASDAQ:FAST opened at $41.75 on Friday. Fastenal Company has a one year low of $35.31 and a one year high of $50.63. The stock has a market capitalization of $47.93 billion, a price-to-earnings ratio of 39.02, a PEG ratio of 3.45 and a beta of 0.89. The company has a 50-day simple moving average of $42.66 and a 200-day simple moving average of $44.37. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.19 and a current ratio of 4.26.

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

Fastenal Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 25th. Investors of record on Tuesday, October 28th were issued a dividend of $0.22 per share. The ex-dividend date of this dividend was Tuesday, October 28th. This represents a $0.88 annualized dividend and a dividend yield of 2.1%. Fastenal’s dividend payout ratio (DPR) is currently 82.24%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on FAST shares. Weiss Ratings reissued a “buy (b)” rating on shares of Fastenal in a research report on Wednesday, October 8th. Baird R W upgraded shares of Fastenal from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 7th. Sanford C. Bernstein began coverage on shares of Fastenal in a research report on Tuesday, November 11th. They set an “underperform” rating and a $38.00 price objective for the company. Northcoast Research initiated coverage on shares of Fastenal in a report on Thursday, August 21st. They issued a “neutral” rating for the company. Finally, Barclays cut their price target on shares of Fastenal from $45.00 to $44.00 and set an “equal weight” rating on the stock in a research note on Thursday, November 13th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $46.32.

Insider Buying and Selling at Fastenal

In other news, Director Sarah N. Nielsen purchased 1,000 shares of the company’s stock in a transaction dated Wednesday, November 19th. The shares were acquired at an average cost of $39.60 per share, for a total transaction of $39,600.00. Following the completion of the purchase, the director directly owned 5,000 shares in the company, valued at $198,000. The trade was a 25.00% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Hsenghung Sam Hsu acquired 1,000 shares of Fastenal stock in a transaction that occurred on Thursday, November 13th. The stock was purchased at an average price of $49.58 per share, with a total value of $49,580.00. Following the transaction, the director owned 10,000 shares of the company’s stock, valued at $495,800. This trade represents a 11.11% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders have purchased 3,000 shares of company stock valued at $131,630. Corporate insiders own 0.37% of the company’s stock.

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.