RFG Bristol Wealth Advisors LLC Grows Stock Holdings in Fastenal Company $FAST

RFG Bristol Wealth Advisors LLC grew its stake in shares of Fastenal Company (NASDAQ:FAST) by 100.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,200 shares of the company’s stock after purchasing an additional 4,100 shares during the quarter. RFG Bristol Wealth Advisors LLC’s holdings in Fastenal were worth $344,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Brighton Jones LLC acquired a new stake in Fastenal in the fourth quarter valued at approximately $496,000. Private Trust Co. NA boosted its stake in shares of Fastenal by 11.2% in the first quarter. Private Trust Co. NA now owns 2,900 shares of the company’s stock valued at $225,000 after purchasing an additional 291 shares during the period. Envestnet Asset Management Inc. grew its holdings in Fastenal by 0.5% during the 1st quarter. Envestnet Asset Management Inc. now owns 4,783,997 shares of the company’s stock valued at $370,999,000 after purchasing an additional 26,075 shares in the last quarter. China Universal Asset Management Co. Ltd. increased its stake in Fastenal by 51.9% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 14,164 shares of the company’s stock worth $1,098,000 after buying an additional 4,841 shares during the period. Finally, Brown Advisory Inc. boosted its position in Fastenal by 11.2% in the 1st quarter. Brown Advisory Inc. now owns 95,973 shares of the company’s stock valued at $7,443,000 after buying an additional 9,669 shares during the last quarter. Institutional investors and hedge funds own 81.38% of the company’s stock.

Fastenal Stock Performance

Shares of FAST stock opened at $41.30 on Wednesday. Fastenal Company has a 12-month low of $35.31 and a 12-month high of $50.63. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.26 and a quick ratio of 2.19. The firm has a market capitalization of $47.41 billion, a price-to-earnings ratio of 38.60, a price-to-earnings-growth ratio of 3.75 and a beta of 0.94. The business has a 50 day simple moving average of $46.11 and a 200 day simple moving average of $44.40.

Fastenal (NASDAQ:FAST) last announced its quarterly earnings results on Monday, October 13th. The company reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.01). The business 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 company’s revenue was up 11.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.26 EPS. On average, equities research analysts anticipate that Fastenal Company will post 2.15 EPS for the current 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 dividend of $0.22 per share. 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 payout ratio is presently 82.24%.

Insider Transactions 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 transaction of $1,662,414.36. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP William Joseph Drazkowski sold 6,842 shares of the business’s stock in a transaction on Friday, August 15th. The stock was 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 $583,747.98. This represents a 36.32% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 90,178 shares of company stock valued at $4,336,603. 0.37% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

FAST has been the subject of a number of analyst reports. Stephens increased their price target on Fastenal from $40.00 to $45.00 and gave the company an “equal weight” rating in a report on Tuesday, July 15th. Weiss Ratings restated a “buy (b)” rating on shares of Fastenal in a research note on Wednesday, October 8th. Wolfe Research reaffirmed a “positive” rating on shares of Fastenal in a report on Monday, July 14th. Loop Capital reissued a “hold” rating on shares of Fastenal in a report on Tuesday, July 15th. Finally, JPMorgan Chase & Co. lifted their target price on Fastenal from $41.00 to $46.00 and gave the stock a “neutral” rating in a research report on Thursday, September 4th. 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 issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price 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.