Fastenal Company $FAST Stock Holdings Increased by Osaic Holdings Inc.

Osaic Holdings Inc. boosted its stake in shares of Fastenal Company (NASDAQ:FAST) by 146.6% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 187,568 shares of the company’s stock after purchasing an additional 111,512 shares during the period. Osaic Holdings Inc.’s holdings in Fastenal were worth $8,440,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. 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 valued at $25,000 after acquiring an additional 292 shares in the last quarter. Hilltop National Bank acquired a new stake in Fastenal during the second quarter valued at $27,000. Private Wealth Management Group LLC grew 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 purchasing an additional 339 shares in the last quarter. Twin Peaks Wealth Advisors LLC acquired a new position in Fastenal in the 2nd quarter worth about $27,000. Finally, Armstrong Advisory Group Inc. increased its position in 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 purchasing an additional 348 shares during the last quarter. Institutional investors and hedge funds own 81.38% of the company’s stock.

Fastenal Trading Up 0.0%

NASDAQ:FAST opened at $42.35 on Monday. The company’s 50 day moving average is $41.33 and its 200-day moving average is $44.47. 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 12 month low of $35.31 and a 12 month high of $50.63. The firm has a market cap of $48.62 billion, a price-to-earnings ratio of 39.58, a P/E/G ratio of 3.39 and a beta of 0.89.

Fastenal (NASDAQ:FAST) last posted its earnings results on Tuesday, October 14th. The company reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.01). The firm 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 quarterly revenue was up 11.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.26 earnings per share. Equities analysts anticipate that Fastenal Company will post 2.15 EPS for the current year.

Fastenal Announces Dividend

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

Insider Activity

In other Fastenal news, Director Hsenghung Sam Hsu purchased 1,000 shares of the business’s stock in a transaction dated Thursday, November 13th. The stock was bought 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 directly owned 10,000 shares in the company, valued at $495,800. This represents a 11.11% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Sarah N. Nielsen acquired 1,000 shares of Fastenal stock in a transaction dated Wednesday, November 19th. The stock was acquired 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 directly owned 5,000 shares of the company’s stock, valued at $198,000. This trade represents a 25.00% increase in their position. The SEC filing for this purchase provides additional information. Insiders have purchased a total of 3,000 shares of company stock valued at $131,630 in the last three months. 0.37% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on FAST. Jefferies Financial Group set a $52.00 price target on Fastenal and gave the company a “buy” rating in a report on Monday, December 15th. Barclays dropped their price objective on Fastenal from $45.00 to $44.00 and set an “equal weight” rating on the stock in a report on Thursday, November 13th. Wolfe Research raised shares of Fastenal from an “underperform” rating to a “peer perform” rating and set a $43.00 target price for the company in a research report on Thursday, November 13th. JPMorgan Chase & Co. increased their price target 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. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Fastenal in a research note on Monday, December 15th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Fastenal presently has a consensus rating of “Hold” and a consensus price target of $48.73.

Fastenal Company Profile

Fastenal (NASDAQ: FAST) is a wholesale distributor of industrial and construction supplies, best known for its broad assortment of fasteners such as bolts, nuts, screws and anchors. Founded in Winona, Minnesota, Fastenal has grown from a regional supplier into a national and international distributor serving a wide range of end markets, including manufacturing, construction, maintenance, repair and operations (MRO), and government customers. The company is publicly traded and operates through a network of locally staffed branches combined with national distribution capabilities.

Product offerings extend beyond fasteners to include tools, safety and personal protective equipment, power transmission components, cutting and welding supplies, janitorial and material handling items, and other industrial consumables.