Gibson Capital LLC Buys Shares of 4,622 Fastenal Company $FAST

Gibson Capital LLC bought a new stake in shares of Fastenal Company (NASDAQ:FAST) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 4,622 shares of the company’s stock, valued at approximately $194,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Blair William & Co. IL increased its holdings in shares of Fastenal by 107.2% in the second quarter. Blair William & Co. IL now owns 6,822,973 shares of the company’s stock worth $286,565,000 after purchasing an additional 3,530,339 shares during the period. Fenimore Asset Management Inc increased its holdings in shares of Fastenal by 101.0% in the second quarter. Fenimore Asset Management Inc now owns 3,747,704 shares of the company’s stock worth $157,404,000 after purchasing an additional 1,883,419 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of Fastenal by 8.9% in the first quarter. Charles Schwab Investment Management Inc. now owns 22,615,915 shares of the company’s stock worth $1,753,864,000 after purchasing an additional 1,850,871 shares during the period. Congress Asset Management Co. bought a new position in shares of Fastenal in the second quarter worth $73,733,000. Finally, Confluence Investment Management LLC increased its holdings in shares of Fastenal by 97.5% in the second quarter. Confluence Investment Management LLC now owns 3,280,009 shares of the company’s stock worth $137,760,000 after purchasing an additional 1,619,507 shares during the period. Institutional investors own 81.38% of the company’s stock.

Fastenal Stock Down 2.0%

FAST opened at $45.78 on Friday. The stock has a market cap of $52.54 billion, a PE ratio of 44.02, a P/E/G ratio of 4.15 and a beta of 0.94. The company has a quick ratio of 2.12, a current ratio of 4.22 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 business’s fifty day simple moving average is $48.26 and its 200 day simple moving average is $43.91.

Fastenal (NASDAQ:FAST) last released its earnings results on Monday, July 14th. The company reported $0.29 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.01. The business had revenue of $2.08 billion for the quarter, compared to analysts’ expectations of $2.07 billion. Fastenal had a return on equity of 32.33% and a net margin of 15.30%.The firm’s revenue was up 8.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.25 earnings per share. As a group, research analysts expect that Fastenal Company will post 2.15 earnings per share for the current fiscal year.

Fastenal Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 25th. Shareholders of record on Tuesday, October 28th will be given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 1.9%. Fastenal’s payout ratio is 84.62%.

Insider Buying and Selling at Fastenal

In other Fastenal news, EVP John Lewis Soderberg sold 34,612 shares of the company’s stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $48.03, for a total transaction of $1,662,414.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jeffery Michael Watts sold 48,724 shares of the company’s stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $48.05, for a total transaction of $2,341,188.20. Following the sale, the insider owned 11,880 shares of the company’s stock, valued at approximately $570,834. The trade was a 80.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 111,230 shares of company stock valued at $5,288,364. Corporate insiders own 0.37% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Fastenal in a report on Wednesday. Stifel Nicolaus set a $82.00 price target on shares of Fastenal in a report on Thursday, July 3rd. Wolfe Research reaffirmed a “positive” rating on shares of Fastenal in a report on Monday, July 14th. Baird R W raised shares of Fastenal from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 7th. Finally, Northcoast Research began coverage on Fastenal in a research note on Thursday, August 21st. They issued a “neutral” rating on the stock. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $47.41.

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.