1,358 Shares in Fastenal Company $FAST Purchased by Trust Co. of Toledo NA OH

Trust Co. of Toledo NA OH acquired a new position in shares of Fastenal Company (NASDAQ:FAST) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 1,358 shares of the company’s stock, valued at approximately $57,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of FAST. Blair William & Co. IL increased its position in Fastenal by 107.2% during 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 last quarter. Fenimore Asset Management Inc raised its stake in shares of Fastenal by 101.0% in the 2nd quarter. Fenimore Asset Management Inc now owns 3,747,704 shares of the company’s stock valued at $157,404,000 after acquiring an additional 1,883,419 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Fastenal by 8.9% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 22,615,915 shares of the company’s stock valued at $1,753,864,000 after acquiring an additional 1,850,871 shares during the period. Congress Asset Management Co. purchased a new stake in shares of Fastenal in the 2nd quarter valued at approximately $73,733,000. Finally, Confluence Investment Management LLC raised its stake in shares of Fastenal by 97.5% in the 2nd quarter. Confluence Investment Management LLC now owns 3,280,009 shares of the company’s stock valued at $137,760,000 after acquiring an additional 1,619,507 shares during the period. 81.38% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently issued reports on FAST. Northcoast Research began coverage on shares of Fastenal in a research note on Thursday, August 21st. They issued a “neutral” rating on the stock. Morgan Stanley set a $40.00 price target on shares of Fastenal and gave the company an “equal weight” rating in a research note on Thursday, July 3rd. Stifel Nicolaus set a $82.00 price target on shares of Fastenal in a research note on Thursday, July 3rd. Stephens boosted their price target on shares of Fastenal from $40.00 to $45.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 15th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Fastenal from $41.00 to $46.00 and gave the company a “neutral” rating in a report on Thursday, September 4th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Fastenal currently has an average rating of “Hold” and a consensus price target of $47.41.

Fastenal Stock Down 2.0%

Shares of Fastenal stock opened at $45.78 on Monday. Fastenal Company has a 52-week low of $35.31 and a 52-week high of $50.63. The company has a 50 day moving average of $48.26 and a 200 day moving average of $43.94. The company has a quick ratio of 2.12, a current ratio of 4.22 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $52.54 billion, a P/E ratio of 44.02, a P/E/G ratio of 4.15 and a beta of 0.94.

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

Fastenal Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 25th. Investors of record on Tuesday, October 28th will be paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 1.9%. Fastenal’s dividend payout ratio is currently 84.62%.

Insider Activity

In other news, CFO Sheryl Ann Lisowski sold 21,052 shares of the business’s stock in a transaction that occurred on Thursday, July 17th. The shares were sold at an average price of $45.21, for a total transaction of $951,760.92. Following the completion of the sale, the chief financial officer owned 10,192 shares in the company, valued at approximately $460,780.32. The trade was a 67.38% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jeffery Michael Watts sold 48,724 shares of the business’s stock in a transaction that occurred on Friday, August 8th. The stock was 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 $570,834. This represents a 80.40% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 111,230 shares of company stock worth $5,288,364 over the last three months. Insiders own 0.37% of the company’s stock.

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.