Fastenal Company $FAST Shares Acquired by Poehling Capital Management INC.

Poehling Capital Management INC. lifted its holdings in Fastenal Company (NASDAQ:FAST) by 100.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,724 shares of the company’s stock after buying an additional 9,362 shares during the period. Poehling Capital Management INC.’s holdings in Fastenal were worth $786,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently bought and sold shares of the business. Patton Fund Management Inc. acquired a new position in shares of Fastenal during the 2nd quarter valued at about $229,000. Values First Advisors Inc. raised its stake in Fastenal by 183.0% during the second quarter. Values First Advisors Inc. now owns 9,378 shares of the company’s stock worth $394,000 after purchasing an additional 6,064 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Fastenal by 8.9% in the 1st 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 during the last quarter. Picton Mahoney Asset Management boosted its holdings in Fastenal by 7.5% in the 1st quarter. Picton Mahoney Asset Management now owns 181,482 shares of the company’s stock valued at $14,074,000 after purchasing an additional 12,721 shares during the last quarter. Finally, KLP Kapitalforvaltning AS grew its stake in shares of Fastenal by 3.9% in the 1st quarter. KLP Kapitalforvaltning AS now owns 195,748 shares of the company’s stock valued at $15,180,000 after buying an additional 7,400 shares during the period. Hedge funds and other institutional investors own 81.38% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on FAST shares. Sanford C. Bernstein started coverage on Fastenal in a report on Tuesday, November 11th. They issued an “underperform” rating and a $38.00 price objective on the stock. Robert W. Baird reduced their target price 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 started coverage on Fastenal in a report on Thursday, August 21st. They set a “neutral” rating for the company. Barclays reduced their price objective on shares of Fastenal from $45.00 to $44.00 and set an “equal weight” rating on the stock in a report on Thursday. Finally, Baird R W upgraded shares of Fastenal from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 7th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Fastenal currently has an average rating of “Hold” and a consensus price target of $46.32.

Fastenal Price Performance

FAST opened at $40.45 on Monday. The stock’s 50-day moving average price is $44.74 and its 200 day moving average price is $44.43. Fastenal Company has a 12-month low of $35.31 and a 12-month high of $50.63. The firm has a market cap of $46.44 billion, a price-to-earnings ratio of 37.80, a PEG ratio of 3.75 and a beta of 0.92. 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 Tuesday, October 14th. 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 analysts’ expectations of $2.13 billion. Fastenal had a return on equity of 32.69% and a net margin of 15.34%.The firm’s revenue for the quarter was up 11.7% on a year-over-year basis. During the same quarter last year, the company earned $0.26 earnings per share. As a group, sell-side analysts expect that Fastenal Company will post 2.15 earnings per share for the current year.

Fastenal Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 25th. Shareholders of record on Tuesday, October 28th will be issued a dividend of $0.22 per share. The ex-dividend date is Tuesday, October 28th. This represents a $0.88 dividend on an annualized basis and a yield of 2.2%. Fastenal’s dividend payout ratio is 82.24%.

Insider Buying and Selling

In other Fastenal news, Director Hsenghung Sam Hsu purchased 1,000 shares of the firm’s stock in a transaction on Thursday, November 13th. The stock was bought at an average price of $49.58 per share, with a total value of $49,580.00. Following the transaction, the director directly owned 10,000 shares of the company’s stock, valued at approximately $495,800. This represents a 11.11% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.37% of the stock is owned by corporate insiders.

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.