Fastenal Company $FAST Holdings Raised by Beaumont Financial Advisors LLC

Beaumont Financial Advisors LLC grew its position in Fastenal Company (NASDAQ:FAST) by 108.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 21,280 shares of the company’s stock after acquiring an additional 11,053 shares during the quarter. Beaumont Financial Advisors LLC’s holdings in Fastenal were worth $894,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in FAST. Brighton Jones LLC bought a new stake in shares of Fastenal in the 4th quarter valued at approximately $496,000. NorthCrest Asset Manangement LLC grew its stake in Fastenal by 4.7% during the 4th quarter. NorthCrest Asset Manangement LLC now owns 8,567 shares of the company’s stock worth $616,000 after buying an additional 382 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in Fastenal by 40.0% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 234,623 shares of the company’s stock worth $16,872,000 after buying an additional 66,991 shares during the last quarter. MassMutual Private Wealth & Trust FSB grew its stake in Fastenal by 33.2% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 3,330 shares of the company’s stock worth $258,000 after buying an additional 830 shares during the last quarter. Finally, First Hawaiian Bank grew its stake in Fastenal by 1.0% during the 1st quarter. First Hawaiian Bank now owns 19,259 shares of the company’s stock worth $1,494,000 after buying an additional 191 shares during the last quarter. 81.38% of the stock is currently owned by institutional investors.

Insider Transactions at Fastenal

In related news, CFO Sheryl Ann Lisowski sold 21,052 shares of the firm’s stock in a transaction dated Thursday, July 17th. The stock was sold at an average price of $45.21, for a total transaction of $951,760.92. Following the completion of the transaction, the chief financial officer owned 10,192 shares of the company’s stock, valued at $460,780.32. This trade represents a 67.38% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Jeffery Michael Watts sold 48,724 shares of the firm’s stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $48.05, for a total value of $2,341,188.20. Following the transaction, the insider directly owned 11,880 shares of the company’s stock, valued at $570,834. This represents a 80.40% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 111,230 shares of company stock worth $5,288,364. Corporate insiders own 0.37% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on FAST shares. Baird R W upgraded Fastenal from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 7th. Stifel Nicolaus set a $82.00 price objective on Fastenal in a research note on Thursday, July 3rd. Loop Capital restated a “hold” rating on shares of Fastenal in a research note on Tuesday, July 15th. JPMorgan Chase & Co. upped their price objective on Fastenal from $41.00 to $46.00 and gave the stock a “neutral” rating in a research note on Thursday, September 4th. Finally, Robert W. Baird upgraded Fastenal from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $47.00 to $55.00 in a research note on Thursday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, four 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.com, Fastenal currently has an average rating of “Hold” and a consensus price target of $46.82.

Fastenal Trading Up 1.8%

NASDAQ:FAST opened at $48.70 on Friday. Fastenal Company has a 1 year low of $34.69 and a 1 year high of $50.63. The stock has a market cap of $55.89 billion, a price-to-earnings ratio of 46.83, a PEG ratio of 4.35 and a beta of 0.97. The business has a fifty day moving average of $48.07 and a 200-day moving average of $43.19. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.12 and a current ratio of 4.22.

Fastenal (NASDAQ:FAST) last released its quarterly earnings results on Monday, July 14th. The company reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.01. Fastenal had a return on equity of 32.33% and a net margin of 15.30%.The company had revenue of $2.08 billion during the quarter, compared to analysts’ expectations of $2.07 billion. During the same quarter in the prior year, the business posted $0.25 earnings per share. The company’s revenue for the quarter was up 8.6% compared to the same quarter last year. Equities analysts predict that Fastenal Company will post 2.15 earnings per share for the current year.

Fastenal Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 26th. Stockholders of record on Tuesday, July 29th were paid a $0.22 dividend. The ex-dividend date of this dividend was Tuesday, July 29th. This represents a $0.88 annualized dividend and a dividend yield of 1.8%. Fastenal’s dividend payout ratio is presently 84.62%.

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.