Fastenal Company $FAST Shares Acquired by Evermay Wealth Management LLC

Evermay Wealth Management LLC increased its holdings in shares of Fastenal Company (NASDAQ:FAST) by 100.0% in the second quarter, Holdings Channel reports. The firm owned 8,684 shares of the company’s stock after buying an additional 4,342 shares during the period. Evermay Wealth Management LLC’s holdings in Fastenal were worth $365,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of FAST. Riverview Trust Co boosted its stake in Fastenal by 100.0% during the second quarter. Riverview Trust Co now owns 584 shares of the company’s stock worth $25,000 after buying an additional 292 shares during the period. Hilltop National Bank acquired a new position in shares of Fastenal in the 2nd quarter worth approximately $27,000. Private Wealth Management Group LLC boosted its position in shares of Fastenal by 111.9% during the 2nd quarter. Private Wealth Management Group LLC now owns 642 shares of the company’s stock worth $27,000 after purchasing an additional 339 shares during the period. Armstrong Advisory Group Inc. boosted its position in shares of Fastenal by 100.0% during 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 period. Finally, AdvisorNet Financial Inc increased its holdings in Fastenal by 95.0% in the 2nd quarter. AdvisorNet Financial Inc now owns 702 shares of the company’s stock valued at $29,000 after purchasing an additional 342 shares during the last quarter. 81.38% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Fastenal news, insider Jeffery Michael Watts sold 48,724 shares of the business’s 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 transaction, the insider owned 11,880 shares in the company, valued at $570,834. The trade was a 80.40% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP William Joseph Drazkowski sold 6,842 shares of the stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $48.67, for a total transaction 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. This represents a 36.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 90,178 shares of company stock worth $4,336,603 over the last three months. Insiders own 0.37% of the company’s stock.

Fastenal Stock Up 1.2%

Shares of NASDAQ FAST opened at $42.46 on Monday. The stock has a market cap of $48.75 billion, a P/E ratio of 39.68, a PEG ratio of 3.87 and a beta of 0.94. The business’s fifty day simple moving average is $47.83 and its 200-day simple moving average is $44.07. Fastenal Company has a 12-month low of $35.31 and a 12-month high of $50.63. The company has a current ratio of 4.26, a quick ratio of 2.19 and a debt-to-equity ratio of 0.03.

Fastenal (NASDAQ:FAST) last issued its quarterly earnings results on Monday, October 13th. The company reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.01). The company had revenue of $2.13 billion for the quarter, compared to analysts’ expectations of $2.13 billion. Fastenal had a return on equity of 32.69% and a net margin of 15.34%.Fastenal’s revenue for the quarter was up 11.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.26 EPS. As a group, equities analysts predict that Fastenal Company will post 2.15 EPS for the current fiscal year.

Fastenal Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 25th. Investors of record on Tuesday, October 28th will be issued a $0.22 dividend. The ex-dividend date of this dividend is Tuesday, October 28th. This represents a $0.88 annualized dividend and a yield of 2.1%. Fastenal’s dividend payout ratio (DPR) is 82.24%.

Wall Street Analyst Weigh In

FAST has been the topic of a number of research reports. Stifel Nicolaus set a $82.00 price target on Fastenal in a research note on Thursday, July 3rd. Weiss Ratings reiterated a “buy (b)” rating on shares of Fastenal in a report on Wednesday, October 8th. JPMorgan Chase & Co. increased their target price on Fastenal from $41.00 to $46.00 and gave the stock a “neutral” rating in a research note on Thursday, September 4th. Morgan Stanley set a $40.00 target price on Fastenal and gave the company an “equal weight” rating in a report on Thursday, July 3rd. Finally, Barclays set a $45.00 price target on shares of Fastenal and gave the stock an “equal weight” rating in a research note on Tuesday, October 14th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $46.50.

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.