Fastenal Company $FAST Shares Bought by Bouchey Financial Group Ltd

Bouchey Financial Group Ltd grew its holdings in Fastenal Company (NASDAQ:FAST) by 101.8% in the second quarter, Holdings Channel.com reports. The institutional investor owned 7,038 shares of the company’s stock after acquiring an additional 3,551 shares during the quarter. Bouchey Financial Group Ltd’s holdings in Fastenal were worth $296,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in FAST. 1248 Management LLC purchased a new stake in Fastenal during the 1st quarter valued at approximately $36,000. Riverview Trust Co grew its stake in shares of Fastenal by 100.0% in the 2nd quarter. Riverview Trust Co now owns 584 shares of the company’s stock valued at $25,000 after purchasing an additional 292 shares during the last quarter. Zions Bancorporation National Association UT acquired a new position in shares of Fastenal in the first quarter valued at approximately $49,000. Private Wealth Management Group LLC raised its stake in shares of Fastenal by 111.9% during the second quarter. Private Wealth Management Group LLC now owns 642 shares of the company’s stock worth $27,000 after purchasing an additional 339 shares during the last quarter. Finally, Hilltop National Bank purchased a new stake in shares of Fastenal during the second quarter worth approximately $27,000. Institutional investors and hedge funds own 81.38% of the company’s stock.

Insider Activity at Fastenal

In other news, EVP William Joseph Drazkowski sold 6,842 shares of the business’s stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $48.67, for a total transaction of $333,000.14. Following the sale, the executive vice president owned 11,994 shares of the company’s stock, valued at $583,747.98. The trade was a 36.32% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Hsenghung Sam Hsu acquired 1,000 shares of the company’s stock in a transaction that occurred on Thursday, October 16th. The stock was purchased 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 $382,050. This represents a 12.50% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 0.37% of the stock is owned by insiders.

Analyst Ratings Changes

FAST has been the topic of a number of analyst reports. 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. JPMorgan Chase & Co. raised their target price on shares of Fastenal from $41.00 to $46.00 and gave the stock a “neutral” rating in a research note on Thursday, September 4th. Sanford C. Bernstein started coverage on shares of Fastenal in a report on Tuesday. They issued an “underperform” rating on the stock. Baird R W raised shares of Fastenal from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 7th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Fastenal in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $46.50.

Fastenal Price Performance

Shares of NASDAQ FAST opened at $41.26 on Wednesday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.19 and a current ratio of 4.26. Fastenal Company has a one year low of $35.31 and a one year high of $50.63. The firm has a market capitalization of $47.37 billion, a P/E ratio of 38.56, a PEG ratio of 3.75 and a beta of 0.92. The company’s fifty day moving average is $45.25 and its two-hundred day moving average is $44.42.

Fastenal (NASDAQ:FAST) last announced its quarterly 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 net margin of 15.34% and a return on equity of 32.69%. The company had revenue of $2.13 billion during the quarter, compared to analysts’ expectations of $2.13 billion. During the same quarter in the prior year, the business earned $0.26 EPS. The business’s revenue for the quarter was up 11.7% compared to the same quarter last year. Analysts forecast that Fastenal Company will post 2.15 EPS for the current fiscal year.

Fastenal Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 25th. Stockholders of record on Tuesday, October 28th will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date is Tuesday, October 28th. Fastenal’s dividend payout ratio (DPR) is presently 82.24%.

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.