Check Capital Management Inc. CA Raises Stake in Fastenal Company $FAST

Check Capital Management Inc. CA boosted its position in Fastenal Company (NASDAQ:FAST) by 100.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,920 shares of the company’s stock after buying an additional 3,960 shares during the period. Check Capital Management Inc. CA’s holdings in Fastenal were worth $333,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of the company. Gibson Capital LLC purchased a new stake in Fastenal in the second quarter valued at approximately $194,000. CWM LLC boosted its position in Fastenal by 96.6% in the second quarter. CWM LLC now owns 55,731 shares of the company’s stock valued at $2,341,000 after buying an additional 27,379 shares during the last quarter. Advocate Group LLC boosted its position in Fastenal by 94.3% in the 2nd quarter. Advocate Group LLC now owns 35,942 shares of the company’s stock worth $1,510,000 after purchasing an additional 17,446 shares in the last quarter. Vanguard Personalized Indexing Management LLC grew its stake in shares of Fastenal by 113.7% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 218,456 shares of the company’s stock worth $9,175,000 after purchasing an additional 116,222 shares during the period. Finally, Concurrent Investment Advisors LLC grew its stake in shares of Fastenal by 241.8% during the 2nd quarter. Concurrent Investment Advisors LLC now owns 28,948 shares of the company’s stock worth $1,216,000 after purchasing an additional 20,478 shares during the period. Hedge funds and other institutional investors own 81.38% of the company’s stock.

Insider Transactions at Fastenal

In other news, EVP William Joseph Drazkowski sold 6,842 shares of the business’s stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $48.67, for a total transaction of $333,000.14. Following the completion of the transaction, the executive vice president directly owned 11,994 shares of the company’s stock, valued at approximately $583,747.98. The trade was a 36.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP John Lewis Soderberg sold 34,612 shares of the business’s 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 disclosure for this sale can be found here. In the last 90 days, insiders sold 111,230 shares of company stock valued at $5,288,364. 0.37% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on FAST. Loop Capital reaffirmed a “hold” rating on shares of Fastenal in a research note on Tuesday, July 15th. Northcoast Research began coverage on shares of Fastenal in a research note on Thursday, August 21st. They set a “neutral” rating on the stock. Barclays started coverage on shares of Fastenal in a research note on Tuesday. They set a “positive” rating and a $49.00 price objective on the stock. Robert W. Baird upgraded Fastenal from a “neutral” rating to an “outperform” rating and increased their target price for the company from $47.00 to $55.00 in a research report on Thursday, August 7th. Finally, Wolfe Research restated a “positive” rating on shares of Fastenal in a report on Monday, July 14th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $47.41.

Fastenal Stock Performance

NASDAQ FAST opened at $45.78 on Friday. The company has a market cap of $52.54 billion, a P/E ratio of 44.02, a P/E/G ratio of 4.15 and a beta of 0.94. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.22 and a quick ratio of 2.12. The stock has a 50-day moving average of $48.26 and a two-hundred day moving average of $43.91. Fastenal Company has a 1-year low of $35.31 and a 1-year high of $50.63.

Fastenal (NASDAQ:FAST) last released its earnings results on Monday, July 14th. The company reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.01. The company had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $2.07 billion. Fastenal had a return on equity of 32.33% and a net margin of 15.30%.Fastenal’s revenue was up 8.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.25 EPS. As a group, 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. Shareholders of record on Tuesday, October 28th will be given a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 1.9%. Fastenal’s dividend payout ratio is currently 84.62%.

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.