Boyd Watterson Asset Management LLC OH Increases Stock Holdings in Fastenal Company $FAST

Boyd Watterson Asset Management LLC OH increased its holdings in Fastenal Company (NASDAQ:FAST) by 75.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,396 shares of the company’s stock after purchasing an additional 2,316 shares during the period. Boyd Watterson Asset Management LLC OH’s holdings in Fastenal were worth $227,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. grew its position in shares of Fastenal by 1.4% in the first quarter. Vanguard Group Inc. now owns 73,317,271 shares of the company’s stock valued at $5,685,754,000 after purchasing an additional 1,016,479 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of Fastenal by 8.9% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 22,615,915 shares of the company’s stock worth $1,753,864,000 after buying an additional 1,850,871 shares during the period. Envestnet Asset Management Inc. raised its position in shares of Fastenal by 103.5% in the 2nd quarter. Envestnet Asset Management Inc. now owns 9,734,500 shares of the company’s stock worth $408,849,000 after buying an additional 4,950,503 shares during the period. Cantillon Capital Management LLC raised its position in shares of Fastenal by 94.4% in the 2nd quarter. Cantillon Capital Management LLC now owns 9,298,033 shares of the company’s stock worth $390,517,000 after buying an additional 4,513,985 shares during the period. Finally, Baird Financial Group Inc. raised its position in shares of Fastenal by 1.7% in the 1st quarter. Baird Financial Group Inc. now owns 8,418,765 shares of the company’s stock worth $652,875,000 after buying an additional 142,972 shares during the period. Hedge funds and other institutional investors own 81.38% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on FAST shares. Stephens increased their target price on Fastenal from $40.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 15th. Robert W. Baird cut 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. Baird R W raised Fastenal from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 7th. Barclays set a $45.00 target price on Fastenal and gave the stock an “equal weight” rating in a research report on Tuesday, October 14th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Fastenal in a research report on Wednesday, October 8th. One 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 given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $46.50.

Insiders Place Their Bets

In other news, insider Jeffery Michael Watts sold 48,724 shares of the firm’s stock in a transaction dated 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 completion of the sale, the insider directly owned 11,880 shares in the company, valued at $570,834. This trade represents a 80.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP John Lewis Soderberg sold 34,612 shares of the firm’s stock in a transaction dated Friday, August 8th. The shares were 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. Insiders have sold 90,178 shares of company stock valued at $4,336,603 over the last ninety days. Insiders own 0.37% of the company’s stock.

Fastenal Trading Down 0.8%

NASDAQ:FAST opened at $42.54 on Tuesday. The business’s 50-day moving average is $47.14 and its two-hundred day moving average is $44.32. 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. The firm has a market capitalization of $48.84 billion, a PE ratio of 39.76, a price-to-earnings-growth ratio of 3.91 and a beta of 0.94.

Fastenal (NASDAQ:FAST) last released its quarterly earnings data on Monday, October 13th. The company reported $0.29 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.01). The company had revenue of $2.13 billion during the quarter, compared to analysts’ expectations of $2.13 billion. Fastenal had a net margin of 15.34% and a return on equity of 32.69%. The company’s revenue for the quarter was up 11.7% compared to the same quarter last year. During the same period last year, the business earned $0.26 earnings per share. Research analysts predict that Fastenal Company will post 2.15 earnings per share for the current fiscal year.

Fastenal Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 25th. Stockholders 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 dividend yield of 2.1%. Fastenal’s dividend payout ratio (DPR) is currently 82.24%.

Fastenal 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.