Fastenal Company $FAST Shares Purchased by Cetera Investment Advisers

Cetera Investment Advisers boosted its stake in Fastenal Company (NASDAQ:FAST) by 91.0% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 333,892 shares of the company’s stock after acquiring an additional 159,045 shares during the quarter. Cetera Investment Advisers’ holdings in Fastenal were worth $14,023,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of FAST. Riverview Trust Co boosted its stake in shares of Fastenal by 100.0% in the second quarter. Riverview Trust Co now owns 584 shares of the company’s stock valued at $25,000 after purchasing an additional 292 shares during the period. Hilltop National Bank acquired a new position in Fastenal in the 2nd quarter worth $27,000. Private Wealth Management Group LLC lifted its holdings in Fastenal by 111.9% in the 2nd quarter. Private Wealth Management Group LLC now owns 642 shares of the company’s stock worth $27,000 after buying an additional 339 shares in the last quarter. Armstrong Advisory Group Inc. boosted its position in Fastenal by 100.0% in the 2nd quarter. Armstrong Advisory Group Inc. now owns 696 shares of the company’s stock valued at $29,000 after buying an additional 348 shares during the last quarter. Finally, AdvisorNet Financial Inc grew its stake in shares of Fastenal by 95.0% during the second quarter. AdvisorNet Financial Inc now owns 702 shares of the company’s stock valued at $29,000 after acquiring an additional 342 shares in the last quarter. Institutional investors and hedge funds own 81.38% of the company’s stock.

Insider Transactions at Fastenal

In related news, Director Hsenghung Sam Hsu bought 1,000 shares of the firm’s stock in a transaction on Thursday, November 13th. The stock was bought at an average cost of $49.58 per share, for a total transaction of $49,580.00. Following the completion of the purchase, the director directly owned 10,000 shares in the company, valued at approximately $495,800. The trade was a 11.11% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.37% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms recently commented on FAST. Robert W. Baird cut their price target on Fastenal from $53.00 to $49.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 14th. Weiss Ratings restated a “buy (b)” rating on shares of Fastenal in a report on Wednesday, October 8th. Barclays cut their target price on Fastenal from $45.00 to $44.00 and set an “equal weight” rating on the stock in a research report on Thursday, November 13th. Northcoast Research started coverage on shares of Fastenal in a research report on Thursday, August 21st. They set a “neutral” rating for the company. Finally, JPMorgan Chase & Co. upped their price target on shares of Fastenal from $41.00 to $46.00 and gave the company a “neutral” rating in a report on Thursday, September 4th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $46.32.

Fastenal Stock Performance

Shares of FAST opened at $39.55 on Thursday. The stock has a market capitalization of $45.40 billion, a PE ratio of 36.96, a price-to-earnings-growth ratio of 3.75 and a beta of 0.92. The business’s fifty day moving average price is $44.24 and its 200 day moving average price is $44.39. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.26 and a quick ratio of 2.19. Fastenal Company has a 12-month low of $35.31 and a 12-month high of $50.63.

Fastenal (NASDAQ:FAST) last released its earnings results on Tuesday, October 14th. The company reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.01). Fastenal had a net margin of 15.34% and a return on equity of 32.69%. The business had revenue of $2.13 billion for the quarter, compared to the consensus estimate of $2.13 billion. During the same quarter in the previous year, the firm earned $0.26 EPS. The firm’s revenue for the quarter was up 11.7% on a year-over-year basis. Equities research analysts forecast that Fastenal Company will post 2.15 EPS for the current year.

Fastenal Dividend Announcement

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

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.