Capital Management Corp VA Increases Position in Fastenal Company $FAST

Capital Management Corp VA raised its position in shares of Fastenal Company (NASDAQ:FAST) by 94.3% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 164,375 shares of the company’s stock after buying an additional 79,796 shares during the period. Capital Management Corp VA’s holdings in Fastenal were worth $6,904,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Riverview Trust Co boosted its holdings in Fastenal by 100.0% during the 2nd quarter. Riverview Trust Co now owns 584 shares of the company’s stock valued at $25,000 after acquiring an additional 292 shares during the period. Hilltop National Bank purchased a new position in shares of Fastenal in the second quarter valued at approximately $27,000. Armstrong Advisory Group Inc. boosted its stake in shares of Fastenal by 100.0% in the second quarter. Armstrong Advisory Group Inc. now owns 696 shares of the company’s stock valued at $29,000 after purchasing an additional 348 shares during the period. AdvisorNet Financial Inc grew its holdings in shares of Fastenal by 95.0% in the second quarter. AdvisorNet Financial Inc now owns 702 shares of the company’s stock valued at $29,000 after purchasing an additional 342 shares in the last quarter. Finally, Clean Yield Group increased its stake in Fastenal by 100.0% during the 2nd quarter. Clean Yield Group now owns 696 shares of the company’s stock worth $29,000 after buying an additional 348 shares during the period. 81.38% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Fastenal

In other Fastenal news, insider Jeffery Michael Watts sold 48,724 shares of Fastenal stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $48.05, for a total transaction of $2,341,188.20. Following the transaction, the insider owned 11,880 shares of the company’s stock, valued at $570,834. The trade was a 80.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Sheryl Ann Lisowski sold 21,052 shares of the stock in a transaction that occurred on Thursday, July 17th. The shares were sold at an average price of $45.21, for a total value of $951,760.92. Following the completion of the sale, the chief financial officer directly owned 10,192 shares of the company’s stock, valued at $460,780.32. The trade was a 67.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 111,230 shares of company stock worth $5,288,364. 0.37% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

FAST has been the subject of several recent research reports. Barclays set a $45.00 price target on shares of Fastenal and gave the company an “equal weight” rating in a research report on Tuesday. Stifel Nicolaus set a $82.00 target price on Fastenal in a report on Thursday, July 3rd. Loop Capital restated a “hold” rating on shares of Fastenal in a report on Tuesday, July 15th. Stephens boosted their price objective on Fastenal from $40.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 15th. Finally, Wolfe Research reaffirmed a “positive” rating on shares of Fastenal in a report on Monday, July 14th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $46.50.

Fastenal Price Performance

FAST stock opened at $42.75 on Wednesday. The business has a 50 day moving average price of $48.15 and a 200 day moving average price of $43.96. The company has a quick ratio of 2.12, a current ratio of 4.26 and a debt-to-equity ratio of 0.03. The stock has a market cap of $49.06 billion, a price-to-earnings ratio of 39.95, a PEG ratio of 3.84 and a beta of 0.94. Fastenal Company has a fifty-two week low of $35.31 and a fifty-two week high of $50.63.

Fastenal (NASDAQ:FAST) last released its quarterly earnings data on Monday, October 13th. The company reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.01). The company 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 firm’s revenue for the quarter was up 11.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.26 EPS. Equities research analysts anticipate that Fastenal Company will post 2.15 earnings per share for the current fiscal year.

Fastenal Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 25th. Shareholders of record on Tuesday, October 28th will be paid a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 2.1%. The ex-dividend date is Tuesday, October 28th. 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.