Astoria Portfolio Advisors LLC. Buys 3,038 Shares of Fastenal Company $FAST

Astoria Portfolio Advisors LLC. grew its stake in Fastenal Company (NASDAQ:FAST) by 95.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,232 shares of the company’s stock after acquiring an additional 3,038 shares during the period. Astoria Portfolio Advisors LLC.’s holdings in Fastenal were worth $262,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of FAST. Brighton Jones LLC bought a new position in shares of Fastenal in the 4th quarter valued at about $496,000. GAMMA Investing LLC grew its holdings in Fastenal by 11.4% during the first quarter. GAMMA Investing LLC now owns 21,847 shares of the company’s stock worth $1,694,000 after purchasing an additional 2,240 shares during the period. Wealth Enhancement Advisory Services LLC grew its holdings in Fastenal by 55.4% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 364,694 shares of the company’s stock worth $28,282,000 after purchasing an additional 130,071 shares during the period. Ritholtz Wealth Management grew its holdings in Fastenal by 7.2% during the first quarter. Ritholtz Wealth Management now owns 23,465 shares of the company’s stock worth $1,820,000 after purchasing an additional 1,573 shares during the period. Finally, Brown Miller Wealth Management LLC grew its holdings in Fastenal by 66.0% during the first quarter. Brown Miller Wealth Management LLC now owns 13,902 shares of the company’s stock worth $1,078,000 after purchasing an additional 5,526 shares during the period. Institutional investors own 81.38% of the company’s stock.

Fastenal Trading Down 7.5%

Shares of FAST stock opened at $42.33 on Tuesday. The firm has a 50 day moving average price of $48.20 and a two-hundred day moving average price of $43.97. 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 $48.58 billion, a PE ratio of 40.70, a price-to-earnings-growth ratio of 4.15 and a beta of 0.94. Fastenal Company has a 12-month low of $35.31 and a 12-month high of $50.63.

Fastenal (NASDAQ:FAST) last released its quarterly earnings results on Monday, October 13th. The company reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.01). Fastenal had a net margin of 15.30% and a return on equity of 32.33%. The business had revenue of $2.13 billion during the quarter, compared to analyst estimates of $2.13 billion. During the same quarter in the previous year, the firm posted $0.26 earnings per share. The firm’s quarterly revenue was up 11.7% on a year-over-year basis. As a group, analysts predict that Fastenal Company will post 2.15 earnings per share for the current year.

Fastenal Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 25th. Stockholders of record on Tuesday, October 28th will be given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date is Tuesday, October 28th. Fastenal’s payout ratio is presently 84.62%.

Insider Buying and Selling at Fastenal

In other news, EVP William Joseph Drazkowski sold 6,842 shares of Fastenal stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $48.67, for a total value of $333,000.14. Following the completion of the sale, the executive vice president directly owned 11,994 shares in the company, valued at approximately $583,747.98. The trade was a 36.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jeffery Michael Watts sold 48,724 shares of Fastenal stock in a transaction that occurred on 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 completion of 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. Insiders have sold a total of 111,230 shares of company stock valued at $5,288,364 in the last three months. Corporate insiders own 0.37% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on FAST. Barclays began coverage on Fastenal in a report on Tuesday, October 7th. They set a “positive” rating and a $49.00 price target for the company. Stephens lifted their price target on Fastenal from $40.00 to $45.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 15th. Wolfe Research reiterated a “positive” rating on shares of Fastenal in a report on Monday, July 14th. Weiss Ratings reiterated a “buy (b)” rating on shares of Fastenal in a report on Wednesday, October 8th. Finally, Loop Capital restated a “hold” rating on shares of Fastenal in a research report on Tuesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Fastenal presently has a consensus rating of “Hold” and a consensus target price of $47.41.

Fastenal 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.