Fastenal Company $FAST Holdings Raised by Czech National Bank

Czech National Bank raised its stake in shares of Fastenal Company (NASDAQ:FAST) by 4.5% in the second quarter, HoldingsChannel reports. The institutional investor owned 326,775 shares of the company’s stock after purchasing an additional 14,073 shares during the period. Czech National Bank’s holdings in Fastenal were worth $15,695,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. Elyxium Wealth LLC bought a new position in shares of Fastenal during the 4th quarter valued at $25,000. Palladiem LLC bought a new stake in shares of Fastenal during the 4th quarter worth about $25,000. Evergreen Advisors LLC acquired a new position in shares of Fastenal during the 1st quarter valued at about $26,000. MV Capital Management Inc. bought a new position in shares of Fastenal in the 4th quarter valued at approximately $29,000. Finally, Field & Main Bank bought a new position in shares of Fastenal in the 4th quarter valued at approximately $30,000. 81.38% of the stock is owned by institutional investors and hedge funds.

Fastenal Stock Up 2.0%

Shares of NASDAQ FAST opened at $51.84 on Friday. The stock has a market cap of $59.49 billion, a PE ratio of 43.93, a PEG ratio of 3.17 and a beta of 0.72. The business has a fifty day moving average of $46.87 and a two-hundred day moving average of $45.83. Fastenal Company has a 52-week low of $38.97 and a 52-week high of $51.90. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.21 and a current ratio of 4.18.

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

Fastenal Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 25th. Stockholders of record on Tuesday, July 28th will be paid a $0.26 dividend. This is an increase from Fastenal’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend is Tuesday, July 28th. This represents a $1.04 annualized dividend and a dividend yield of 2.0%. Fastenal’s payout ratio is 88.14%.

Wall Street Analysts Forecast Growth

FAST has been the subject of a number of research analyst reports. Rothschild & Co Redburn set a $55.00 target price on shares of Fastenal and gave the stock a “buy” rating in a research report on Monday, July 13th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Fastenal in a research report on Thursday, June 4th. Wolfe Research reaffirmed an “underperform” rating and issued a $47.00 target price on shares of Fastenal in a research report on Thursday, July 9th. Robert W. Baird set a $54.00 target price on shares of Fastenal in a research note on Friday. Finally, Weiss Ratings cut shares of Fastenal from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, July 21st. Five analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, Fastenal has a consensus rating of “Hold” and a consensus price target of $49.17.

Insider Buying and Selling at Fastenal

In related news, Director Michael J. Ancius sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $49.00, for a total value of $147,000.00. Following the transaction, the director owned 58,690 shares in the company, valued at $2,875,810. This trade represents a 4.86% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Rita J. Heise sold 34,964 shares of the business’s stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $50.05, for a total value of $1,749,948.20. Following the sale, the director directly owned 20,000 shares of the company’s stock, valued at $1,001,000. This represents a 63.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.28% of the company’s stock.

Fastenal Company 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.