Barbara Oil Co. Purchases 16,000 Shares of Fastenal Company $FAST

Barbara Oil Co. raised its position in shares of Fastenal Company (NASDAQ:FAST) by 100.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,000 shares of the company’s stock after acquiring an additional 16,000 shares during the period. Barbara Oil Co.’s holdings in Fastenal were worth $1,344,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of FAST. Riverview Trust Co increased its position in Fastenal by 100.0% during 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 during the period. Hilltop National Bank purchased a new stake in shares of Fastenal during the second quarter valued at about $27,000. Private Wealth Management Group LLC lifted its position in shares of Fastenal by 111.9% during 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 during the last quarter. Twin Peaks Wealth Advisors LLC bought a new stake in shares of Fastenal in the 2nd quarter valued at about $27,000. Finally, Armstrong Advisory Group Inc. grew its position in shares of Fastenal by 100.0% in the 2nd quarter. Armstrong Advisory Group Inc. now owns 696 shares of the company’s stock worth $29,000 after buying an additional 348 shares during the last quarter. 81.38% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Fastenal

In other news, Director Hsenghung Sam Hsu bought 1,000 shares of the business’s stock in a transaction dated Thursday, November 13th. The stock was purchased at an average cost of $49.58 per share, with a total value of $49,580.00. Following the acquisition, the director directly owned 10,000 shares in the company, valued at $495,800. This trade represents a 11.11% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Sarah N. Nielsen purchased 1,000 shares of the stock in a transaction that occurred 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 completion of the acquisition, the director directly owned 5,000 shares of the company’s stock, valued at $198,000. This represents a 25.00% increase in their position. The SEC filing for this purchase provides additional information. In the last 90 days, insiders acquired 3,000 shares of company stock worth $131,630. Insiders own 0.37% of the company’s stock.

Fastenal Price Performance

Shares of NASDAQ FAST opened at $41.50 on Friday. Fastenal Company has a 52 week low of $35.31 and a 52 week high of $50.63. 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 firm has a market cap of $47.64 billion, a P/E ratio of 38.79, a P/E/G ratio of 3.48 and a beta of 0.89. The business’s 50 day moving average price is $42.52 and its 200 day moving average price is $44.39.

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

Fastenal Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 25th. Shareholders of record on Tuesday, October 28th were given a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 2.1%. The ex-dividend date was Tuesday, October 28th. Fastenal’s dividend payout ratio is currently 82.24%.

Analyst Ratings Changes

A number of equities research analysts recently commented on FAST shares. JPMorgan Chase & Co. increased their target price on shares of Fastenal from $41.00 to $46.00 and gave the company a “neutral” rating in a research report on Thursday, September 4th. Robert W. Baird decreased their price objective on Fastenal from $53.00 to $49.00 and set an “outperform” rating for the company in a report on Tuesday, October 14th. Sanford C. Bernstein assumed coverage on Fastenal in a research note on Tuesday, November 11th. They set an “underperform” rating and a $38.00 target price on the stock. Barclays reduced their target price on Fastenal from $45.00 to $44.00 and set an “equal weight” rating on the stock in a research report on Thursday, November 13th. Finally, Northcoast Research started coverage on shares of Fastenal in a research report on Thursday, August 21st. They issued a “neutral” rating for the company. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $46.70.

Fastenal Company 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.