14,331 Shares in Fastenal Company $FAST Purchased by Madison Wealth Partners Inc

Madison Wealth Partners Inc purchased a new stake in Fastenal Company (NASDAQ:FAST) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 14,331 shares of the company’s stock, valued at approximately $688,000.

A number of other large investors have also recently modified their holdings of the business. Integrated Wealth Concepts LLC increased its position in shares of Fastenal by 2.4% in the first quarter. Integrated Wealth Concepts LLC now owns 6,276 shares of the company’s stock worth $487,000 after purchasing an additional 147 shares during the last quarter. Tandem Investment Advisors Inc. lifted its position in Fastenal by 1.8% during the first quarter. Tandem Investment Advisors Inc. now owns 12,356 shares of the company’s stock valued at $573,000 after purchasing an additional 224 shares during the last quarter. Sittner & Nelson LLC grew its stake in Fastenal by 0.3% in the 4th quarter. Sittner & Nelson LLC now owns 68,495 shares of the company’s stock worth $2,749,000 after buying an additional 226 shares in the last quarter. Sound Income Strategies LLC grew its stake in Fastenal by 12.9% in the 1st quarter. Sound Income Strategies LLC now owns 2,025 shares of the company’s stock worth $94,000 after buying an additional 232 shares in the last quarter. Finally, L2 Asset Management LLC increased its holdings in shares of Fastenal by 4.8% in the 3rd quarter. L2 Asset Management LLC now owns 5,389 shares of the company’s stock worth $264,000 after buying an additional 248 shares during the last quarter. Institutional investors own 81.38% of the company’s stock.

Insider Buying and Selling

In other news, Director Rita J. Heise sold 34,964 shares of the firm’s stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $50.05, for a total value of $1,749,948.20. Following the transaction, the director owned 20,000 shares in the company, valued at approximately $1,001,000. This trade represents a 63.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Michael J. Ancius sold 3,000 shares of Fastenal stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $49.00, for a total transaction of $147,000.00. Following the completion of the transaction, the director directly owned 58,690 shares in the company, valued at approximately $2,875,810. The trade was a 4.86% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.28% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. DA Davidson restated a “neutral” rating and set a $46.00 price objective on shares of Fastenal in a research report on Wednesday, July 15th. Barclays reduced their target price on Fastenal from $47.00 to $46.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 16th. Morgan Stanley raised their price target on Fastenal from $48.00 to $52.00 and gave the company an “equal weight” rating in a research report on Thursday, July 16th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Fastenal in a research note on Thursday, June 4th. Finally, Rothschild & Co Redburn set a $55.00 price objective on Fastenal and gave the stock a “buy” rating in a report on Monday, July 13th. Five investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $49.17.

Fastenal Stock Performance

Fastenal stock opened at $51.26 on Friday. The firm has a fifty day simple moving average of $47.96 and a two-hundred day simple moving average of $46.37. The company has a quick ratio of 2.21, a current ratio of 4.18 and a debt-to-equity ratio of 0.01. Fastenal Company has a twelve month low of $38.97 and a twelve month high of $52.92. The company has a market capitalization of $58.82 billion, a PE ratio of 43.44, a P/E/G ratio of 3.20 and a beta of 0.72.

Fastenal (NASDAQ:FAST) last announced its quarterly earnings data on Tuesday, July 14th. The company reported $0.33 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.33. The firm had revenue of $2.39 billion for the quarter, compared to analysts’ expectations of $2.34 billion. Fastenal had a return on equity of 34.03% and a net margin of 15.45%.The company’s revenue for the quarter was up 14.7% compared to the same quarter last year. During the same period last year, the firm earned $0.29 earnings per share. Research analysts expect that Fastenal Company will post 1.26 EPS for the current year.

Fastenal Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 25th. Shareholders of record on Tuesday, July 28th will be paid a $0.26 dividend. This is an increase from Fastenal’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend is Tuesday, July 28th. This represents a $1.04 dividend on an annualized basis and a yield of 2.0%. Fastenal’s payout ratio is presently 88.14%.

About Fastenal

Fastenal (NASDAQ: FAST) is a wholesale distributor of industrial and construction supplies, best known for its broad assortment of fasteners such as bolts, nuts, screws and anchors. Founded in Winona, Minnesota, Fastenal has grown from a regional supplier into a national and international distributor serving a wide range of end markets, including manufacturing, construction, maintenance, repair and operations (MRO), and government customers. The company is publicly traded and operates through a network of locally staffed branches combined with national distribution capabilities.

Product offerings extend beyond fasteners to include tools, safety and personal protective equipment, power transmission components, cutting and welding supplies, janitorial and material handling items, and other industrial consumables.