Fastenal Company $FAST Shares Purchased by Profund Advisors LLC

Profund Advisors LLC raised its holdings in Fastenal Company (NASDAQ:FAST) by 131.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 100,096 shares of the company’s stock after purchasing an additional 56,836 shares during the period. Profund Advisors LLC’s holdings in Fastenal were worth $4,204,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in FAST. Riverview Trust Co grew its stake in shares of 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 buying an additional 292 shares during the period. Hilltop National Bank acquired a new position in shares of Fastenal in the 2nd quarter valued at approximately $27,000. Private Wealth Management Group LLC boosted its stake in Fastenal by 111.9% during the 2nd quarter. Private Wealth Management Group LLC now owns 642 shares of the company’s stock valued at $27,000 after acquiring an additional 339 shares during the last quarter. Armstrong Advisory Group Inc. increased its holdings in 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 buying an additional 348 shares during the last quarter. Finally, AdvisorNet Financial Inc raised its position in shares of Fastenal by 95.0% during the 2nd 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.

Fastenal Stock Performance

NASDAQ:FAST opened at $40.85 on Monday. Fastenal Company has a 1 year low of $35.31 and a 1 year high of $50.63. The stock has a market capitalization of $46.90 billion, a P/E ratio of 38.18, a price-to-earnings-growth ratio of 3.75 and a beta of 0.92. The company has a current ratio of 4.26, a quick ratio of 2.19 and a debt-to-equity ratio of 0.03. The firm has a 50 day moving average of $45.57 and a 200-day moving average of $44.41.

Fastenal (NASDAQ:FAST) last announced its earnings results on Monday, October 13th. The company reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.01). Fastenal had a return on equity of 32.69% and a net margin of 15.34%.The company had revenue of $2.13 billion for the quarter, compared to analyst estimates of $2.13 billion. During the same quarter in the previous year, the company posted $0.26 earnings per share. Fastenal’s revenue for the quarter was up 11.7% on a year-over-year basis. As a group, sell-side analysts anticipate that Fastenal Company will post 2.15 EPS for the current fiscal year.

Fastenal Dividend Announcement

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 $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend is Tuesday, October 28th. Fastenal’s dividend payout ratio (DPR) is 82.24%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on FAST. Barclays set a $45.00 price objective on shares of Fastenal and gave the company an “equal weight” rating in a research report on Tuesday, October 14th. Robert W. Baird decreased their target price on Fastenal from $53.00 to $49.00 and set an “outperform” rating on the stock in a report on Tuesday, October 14th. Loop Capital reiterated a “hold” rating on shares of Fastenal in a research report on Tuesday, July 15th. Stephens raised their price target on shares of Fastenal from $40.00 to $45.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 15th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Fastenal in a research note on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $46.50.

Insider Buying and Selling

In related news, Director Hsenghung Sam Hsu acquired 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 16th. The stock was acquired at an average cost of $42.45 per share, with a total value of $42,450.00. Following the completion of the purchase, the director directly owned 9,000 shares in the company, valued at approximately $382,050. This trade represents a 12.50% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP William Joseph Drazkowski sold 6,842 shares of the firm’s stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $48.67, for a total value of $333,000.14. Following the transaction, the executive vice president owned 11,994 shares in the company, valued at approximately $583,747.98. This trade represents a 36.32% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.37% of the company’s stock.

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.