Simon Quick Advisors LLC Acquires 5,053 Shares of Fastenal Company $FAST

Simon Quick Advisors LLC increased its holdings in shares of Fastenal Company (NASDAQ:FAST) by 139.9% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 8,665 shares of the company’s stock after buying an additional 5,053 shares during the quarter. Simon Quick Advisors LLC’s holdings in Fastenal were worth $364,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Welch & Forbes LLC lifted its position in shares of Fastenal by 0.4% during the 1st quarter. Welch & Forbes LLC now owns 32,992 shares of the company’s stock worth $2,559,000 after buying an additional 135 shares during the last quarter. Principal Securities Inc. lifted its position in shares of Fastenal by 0.9% during the 1st quarter. Principal Securities Inc. now owns 15,886 shares of the company’s stock worth $1,142,000 after buying an additional 140 shares during the last quarter. Integrated Wealth Concepts LLC lifted its position in shares of Fastenal by 2.4% during the 1st quarter. Integrated Wealth Concepts LLC now owns 6,276 shares of the company’s stock worth $487,000 after buying an additional 147 shares during the last quarter. Valeo Financial Advisors LLC lifted its position in shares of Fastenal by 1.5% during the 1st quarter. Valeo Financial Advisors LLC now owns 10,495 shares of the company’s stock worth $814,000 after buying an additional 153 shares during the last quarter. Finally, Pinnacle Associates Ltd. lifted its position in shares of Fastenal by 3.1% during the 1st quarter. Pinnacle Associates Ltd. now owns 5,057 shares of the company’s stock worth $392,000 after buying an additional 154 shares during the last quarter. 81.38% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, EVP John Lewis Soderberg sold 34,612 shares of the stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $48.03, for a total value of $1,662,414.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jeffery Michael Watts sold 48,724 shares of the stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $48.05, for a total value of $2,341,188.20. Following the completion of the sale, the insider directly owned 11,880 shares of the company’s stock, valued at approximately $570,834. The trade was a 80.40% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 90,178 shares of company stock worth $4,336,603. Corporate insiders own 0.37% of the company’s stock.

Fastenal Trading Down 1.0%

Shares of FAST stock opened at $41.15 on Monday. The stock has a market cap of $47.24 billion, a price-to-earnings ratio of 38.46, a PEG ratio of 3.75 and a beta of 0.94. The stock has a 50-day moving average of $46.47 and a 200-day moving average of $44.39. 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 Company has a 1-year low of $35.31 and a 1-year high of $50.63.

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 during the quarter, compared to analyst estimates of $2.13 billion. Fastenal had a net margin of 15.34% and a return on equity of 32.69%. The company’s quarterly revenue was up 11.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.26 EPS. On average, equities research analysts forecast that Fastenal Company will post 2.15 earnings per share for the current year.

Fastenal Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 25th. Stockholders of record on Tuesday, October 28th will be paid a $0.22 dividend. The ex-dividend date of this dividend is Tuesday, October 28th. This represents a $0.88 annualized dividend and a dividend yield of 2.1%. Fastenal’s dividend payout ratio is presently 82.24%.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Wolfe Research restated a “positive” rating on shares of Fastenal in a research report on Monday, July 14th. JPMorgan Chase & Co. increased their target price on Fastenal from $41.00 to $46.00 and gave the company a “neutral” rating in a research report on Thursday, September 4th. Robert W. Baird dropped their target price on Fastenal from $53.00 to $49.00 and set an “outperform” rating for the company in a research report on Tuesday, October 14th. Stephens increased their target price on Fastenal from $40.00 to $45.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 15th. Finally, Loop Capital reiterated 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 given a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $46.50.

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.