CVA Family Office LLC Has $74,000 Holdings in Fastenal Company $FAST

CVA Family Office LLC lifted its position in Fastenal Company (NASDAQ:FAST) by 98.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,757 shares of the company’s stock after purchasing an additional 872 shares during the quarter. CVA Family Office LLC’s holdings in Fastenal were worth $74,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of FAST. Cantillon Capital Management LLC lifted its holdings in shares of Fastenal by 94.4% during the 2nd quarter. Cantillon Capital Management LLC now owns 9,298,033 shares of the company’s stock worth $390,517,000 after acquiring an additional 4,513,985 shares during the period. Blair William & Co. IL raised its position in 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 in the last quarter. TD Asset Management Inc raised its position in Fastenal by 90.0% in the second quarter. TD Asset Management Inc now owns 4,934,558 shares of the company’s stock worth $207,251,000 after purchasing an additional 2,337,187 shares in the last quarter. Fenimore Asset Management Inc lifted its stake in Fastenal by 101.0% during 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. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Fastenal by 8.9% during the first quarter. Charles Schwab Investment Management Inc. now owns 22,615,915 shares of the company’s stock valued at $1,753,864,000 after purchasing an additional 1,850,871 shares in the last quarter. 81.38% of the stock is owned by institutional investors.

Fastenal Price Performance

Shares of FAST stock opened at $42.87 on Monday. The stock’s fifty day moving average is $47.27 and its 200-day moving average is $44.29. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.19 and a current ratio of 4.26. Fastenal Company has a 52 week low of $35.31 and a 52 week high of $50.63. The stock has a market capitalization of $49.22 billion, a PE ratio of 40.07, a PEG ratio of 3.91 and a beta of 0.94.

Fastenal (NASDAQ:FAST) last issued its quarterly earnings results on Monday, October 13th. The company reported $0.29 earnings per share (EPS) 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 analyst estimates of $2.13 billion. Fastenal had a return on equity of 32.69% and a net margin of 15.34%.The firm’s quarterly revenue was up 11.7% on a year-over-year basis. During the same quarter last year, the company earned $0.26 EPS. Equities research analysts expect that Fastenal Company will post 2.15 EPS for the current fiscal year.

Fastenal Announces Dividend

The business also recently declared 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 dividend on an annualized basis and a dividend yield of 2.1%. Fastenal’s dividend payout ratio (DPR) is currently 82.24%.

Insider Activity at Fastenal

In other news, EVP John Lewis Soderberg sold 34,612 shares of Fastenal stock in a transaction on Friday, August 8th. The stock was sold at an average price of $48.03, for a total value of $1,662,414.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Hsenghung Sam Hsu purchased 1,000 shares of the business’s stock in a transaction dated Thursday, October 16th. The shares were purchased at an average cost of $42.45 per share, for a total transaction of $42,450.00. Following the purchase, the director directly owned 9,000 shares of the company’s stock, valued at $382,050. This trade represents a 12.50% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders have sold 90,178 shares of company stock worth $4,336,603. Company insiders own 0.37% of the company’s stock.

Analysts Set New Price Targets

FAST has been the subject of a number of recent research reports. Baird R W raised Fastenal from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 7th. Robert W. Baird lowered their price target on Fastenal from $53.00 to $49.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 14th. Northcoast Research initiated coverage on Fastenal in a research note on Thursday, August 21st. They set a “neutral” rating for the company. Wolfe Research restated a “positive” rating on shares of Fastenal in a research note on Monday, July 14th. Finally, Morgan Stanley set a $40.00 target price on shares of Fastenal and gave the stock an “equal weight” rating in a report on Thursday, July 3rd. One 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 issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target 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.