1832 Asset Management L.P. Acquires 15,536 Shares of Fastenal Company $FAST

1832 Asset Management L.P. raised its holdings in shares of Fastenal Company (NASDAQ:FAST) by 36.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 58,322 shares of the company’s stock after buying an additional 15,536 shares during the period. 1832 Asset Management L.P.’s holdings in Fastenal were worth $2,450,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. CW Advisors LLC boosted its holdings in Fastenal by 6,111.4% during the 2nd quarter. CW Advisors LLC now owns 219,388 shares of the company’s stock valued at $9,214,000 after acquiring an additional 215,856 shares during the period. Twin Peaks Wealth Advisors LLC bought a new stake in Fastenal in the second quarter valued at approximately $27,000. Groupe la Francaise boosted its stake in shares of Fastenal by 139.9% during the second quarter. Groupe la Francaise now owns 135,628 shares of the company’s stock valued at $5,671,000 after purchasing an additional 79,090 shares during the period. Isthmus Partners LLC grew its holdings in shares of Fastenal by 97.7% in the second quarter. Isthmus Partners LLC now owns 20,158 shares of the company’s stock worth $847,000 after purchasing an additional 9,964 shares during the last quarter. Finally, Beacon Pointe Advisors LLC grew its holdings in shares of Fastenal by 98.3% in the second quarter. Beacon Pointe Advisors LLC now owns 71,384 shares of the company’s stock worth $2,998,000 after purchasing an additional 35,389 shares during the last quarter. Hedge funds and other institutional investors own 81.38% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on FAST. Northcoast Research began coverage on shares of Fastenal in a report on Thursday, August 21st. They set a “neutral” rating for the company. Robert W. Baird lowered their price objective on shares of Fastenal from $53.00 to $49.00 and set an “outperform” rating for the company in a research note on Tuesday, October 14th. Weiss Ratings reissued a “buy (b)” rating on shares of Fastenal in a research note on Wednesday, October 8th. Wolfe Research upgraded Fastenal from an “underperform” rating to a “peer perform” rating and set a $43.00 price target on the stock in a report on Thursday, November 13th. Finally, JPMorgan Chase & Co. increased their price objective on Fastenal from $41.00 to $46.00 and gave the stock a “neutral” rating in a report on Thursday, September 4th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $46.70.

Insider Transactions at Fastenal

In other Fastenal news, Director Hsenghung Sam Hsu bought 1,000 shares of the stock in a transaction dated Thursday, November 13th. The stock was purchased at an average cost of $49.58 per share, for a total transaction of $49,580.00. Following the completion of the acquisition, the director owned 10,000 shares of the company’s stock, valued at approximately $495,800. This trade represents a 11.11% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Sarah N. Nielsen purchased 1,000 shares of the company’s stock in a transaction dated Wednesday, November 19th. The stock was bought at an average cost of $39.60 per share, for a total transaction of $39,600.00. Following the completion of the transaction, the director owned 5,000 shares in the company, valued at approximately $198,000. This 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 have purchased 3,000 shares of company stock valued at $131,630. 0.37% of the stock is currently owned by corporate insiders.

Fastenal Trading Down 0.6%

FAST opened at $41.50 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. Fastenal Company has a 52 week low of $35.31 and a 52 week high of $50.63. The stock has a market cap of $47.64 billion, a PE ratio of 38.79, a PEG ratio of 3.50 and a beta of 0.89. The business has a 50 day moving average of $42.52 and a 200-day moving average of $44.37.

Fastenal (NASDAQ:FAST) last issued 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 during the quarter, compared to analysts’ expectations of $2.13 billion. Fastenal had a return on equity of 32.69% and a net margin of 15.34%.Fastenal’s revenue for the quarter was up 11.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.26 earnings per share. Equities research analysts predict 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. Investors of record on Tuesday, October 28th were paid a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 2.1%. The ex-dividend date was Tuesday, October 28th. Fastenal’s dividend payout ratio (DPR) is presently 82.24%.

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.