Wealthcare Advisory Partners LLC Sells 9,806 Shares of Fastenal Company $FAST

Wealthcare Advisory Partners LLC lowered its position in Fastenal Company (NASDAQ:FAST) by 43.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,664 shares of the company’s stock after selling 9,806 shares during the quarter. Wealthcare Advisory Partners LLC’s holdings in Fastenal were worth $608,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of FAST. Focus Financial Network Inc. increased its position in Fastenal by 5.1% during the second quarter. Focus Financial Network Inc. now owns 67,730 shares of the company’s stock worth $3,253,000 after buying an additional 3,275 shares during the last quarter. Dudley & Shanley Inc. raised its stake in Fastenal by 160.7% in the second quarter. Dudley & Shanley Inc. now owns 472,440 shares of the company’s stock valued at $22,691,000 after buying an additional 291,190 shares during the period. Sax Wealth Advisors LLC lifted its position in shares of Fastenal by 65.4% in the second quarter. Sax Wealth Advisors LLC now owns 9,262 shares of the company’s stock valued at $430,000 after buying an additional 3,663 shares during the last quarter. Valeo Financial Advisors LLC lifted its position in shares of Fastenal by 8.8% in the second quarter. Valeo Financial Advisors LLC now owns 14,291 shares of the company’s stock valued at $686,000 after buying an additional 1,155 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. boosted its stake in shares of Fastenal by 19.3% during the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 8,050 shares of the company’s stock worth $387,000 after acquiring an additional 1,302 shares during the period. Institutional investors own 81.38% of the company’s stock.

Insider Activity

In other Fastenal news, Director Rita J. Heise sold 34,964 shares of the business’s stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $50.05, for a total value of $1,749,948.20. Following the completion of the sale, the director owned 20,000 shares of the company’s stock, valued at $1,001,000. The trade was a 63.61% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Michael J. Ancius sold 3,000 shares of the stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $49.00, for a total transaction of $147,000.00. Following the transaction, the director owned 58,690 shares in the company, valued at approximately $2,875,810. The trade was a 4.86% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.28% of the stock is owned by insiders.

Fastenal Stock Performance

Shares of NASDAQ FAST opened at $51.02 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.18 and a quick ratio of 2.21. The firm has a market cap of $58.55 billion, a price-to-earnings ratio of 43.24, a P/E/G ratio of 3.18 and a beta of 0.72. The stock’s fifty day moving average price is $47.47 and its two-hundred day moving average price is $46.10. Fastenal Company has a one year low of $38.97 and a one year high of $52.92.

Fastenal (NASDAQ:FAST) last posted its earnings results on Tuesday, July 14th. The company reported $0.33 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.33. The company had revenue of $2.39 billion during the quarter, compared to the consensus estimate of $2.34 billion. Fastenal had a return on equity of 34.03% and a net margin of 15.45%.The company’s revenue was up 14.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.29 earnings per share. On average, equities analysts forecast that Fastenal Company will post 1.26 EPS for the current year.

Fastenal Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 25th. Shareholders of record on Tuesday, July 28th will be paid a $0.26 dividend. This is a positive change from Fastenal’s previous quarterly dividend of $0.24. The ex-dividend date is Tuesday, July 28th. This represents a $1.04 annualized dividend and a yield of 2.0%. Fastenal’s dividend payout ratio is presently 88.14%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on FAST. Morgan Stanley boosted their target price on Fastenal from $48.00 to $52.00 and gave the stock an “equal weight” rating in a report on Thursday, July 16th. Robert W. Baird set a $54.00 price target on Fastenal in a report on Friday, August 7th. Barclays reduced their price objective on shares of Fastenal from $47.00 to $46.00 and set an “equal weight” rating for the company in a research report on Thursday, July 16th. Sanford C. Bernstein reiterated an “underperform” rating on shares of Fastenal in a report on Wednesday, July 15th. Finally, Jefferies Financial Group restated a “buy” rating on shares of Fastenal in a research note on Thursday, June 4th. Five research analysts have rated the stock with a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Fastenal presently has an average rating of “Hold” and a consensus target price of $49.17.

Fastenal Profile

Fastenal (NASDAQ: FAST) is a wholesale distributor of industrial and construction supplies, best known for its broad assortment of fasteners such as bolts, nuts, screws and anchors. Founded in Winona, Minnesota, Fastenal has grown from a regional supplier into a national and international distributor serving a wide range of end markets, including manufacturing, construction, maintenance, repair and operations (MRO), and government customers. The company is publicly traded and operates through a network of locally staffed branches combined with national distribution capabilities.

Product offerings extend beyond fasteners to include tools, safety and personal protective equipment, power transmission components, cutting and welding supplies, janitorial and material handling items, and other industrial consumables.