Duality Advisers LP acquired a new position in Fastenal (NASDAQ:FAST) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 46,705 shares of the company’s stock, valued at approximately $2,001,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Sound Income Strategies LLC increased its holdings in shares of Fastenal by 3,046.7% in the 1st quarter. Sound Income Strategies LLC now owns 944 shares of the company’s stock valued at $30,000 after purchasing an additional 914 shares during the period. Royal Fund Management LLC acquired a new position in Fastenal in the 1st quarter valued at approximately $31,000. Wealthcare Advisory Partners LLC lifted its position in Fastenal by 36.1% in the 1st quarter. Wealthcare Advisory Partners LLC now owns 1,162 shares of the company’s stock worth $36,000 after buying an additional 308 shares in the last quarter. Capital Square LLC acquired a new stake in shares of Fastenal during the 1st quarter valued at $41,000. Finally, Balentine LLC purchased a new position in shares of Fastenal during the 1st quarter valued at $41,000. Hedge funds and other institutional investors own 80.00% of the company’s stock.

FAST opened at $47.04 on Friday. The business has a 50 day moving average of $43.24 and a 200-day moving average of $37.90. The stock has a market capitalization of $26.95 billion, a price-to-earnings ratio of 32.44, a P/E/G ratio of 3.63 and a beta of 1.20. The company has a current ratio of 4.13, a quick ratio of 1.91 and a debt-to-equity ratio of 0.20. Fastenal has a 1-year low of $26.72 and a 1-year high of $47.07.

Fastenal (NASDAQ:FAST) last announced its quarterly earnings data on Tuesday, July 14th. The company reported $0.42 EPS for the quarter, topping the Zacks’ consensus estimate of $0.36 by $0.06. The company had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.47 billion. Fastenal had a return on equity of 31.19% and a net margin of 15.07%. The company’s quarterly revenue was up 10.3% on a year-over-year basis. During the same quarter last year, the company earned $0.36 EPS. Equities analysts predict that Fastenal will post 1.43 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 25th. Stockholders of record on Tuesday, July 28th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.13%. The ex-dividend date of this dividend is Monday, July 27th. Fastenal’s payout ratio is 72.46%.

In other news, insider William Joseph Drazkowski sold 28,554 shares of the firm’s stock in a transaction on Friday, July 24th. The stock was sold at an average price of $45.59, for a total value of $1,301,776.86. Following the completion of the sale, the insider now directly owns 9,330 shares in the company, valued at $425,354.70. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Leland J. Hein sold 10,000 shares of the company’s stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $38.71, for a total transaction of $387,100.00. Following the transaction, the vice president now owns 25,222 shares in the company, valued at approximately $976,343.62. The disclosure for this sale can be found here. In the last three months, insiders sold 156,826 shares of company stock worth $6,594,303. 0.57% of the stock is currently owned by insiders.

A number of analysts recently issued reports on the company. Wells Fargo & Co lifted their price objective on Fastenal from $45.00 to $50.00 and gave the company an “overweight” rating in a research report on Thursday, July 2nd. Deutsche Bank lifted their price target on Fastenal from $49.00 to $51.00 and gave the company a “buy” rating in a report on Monday, July 27th. Stephens increased their price objective on Fastenal from $32.00 to $35.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 15th. BidaskClub raised shares of Fastenal from a “buy” rating to a “strong-buy” rating in a research report on Thursday, July 2nd. Finally, Jefferies Financial Group reissued a “hold” rating and issued a $46.00 target price on shares of Fastenal in a research report on Wednesday, July 15th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $41.90.

Fastenal Profile

Fastenal Company, together with its subsidiaries, engages in the wholesale distribution of industrial and construction supplies in the United States, Canada, and internationally. It offers fasteners, and other industrial and construction supplies under the Fastenal name. The company's fastener products include threaded fasteners, such as bolts, nuts, screws, studs, and related washers, which are used in manufactured products and construction projects, as well as in the maintenance and repair of machines.

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Institutional Ownership by Quarter for Fastenal (NASDAQ:FAST)

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