B. Metzler seel. Sohn & Co. AG Has $33.12 Million Stock Position in Fastenal Company $FAST

B. Metzler seel. Sohn & Co. AG lowered its holdings in shares of Fastenal Company (NASDAQ:FAST) by 6.9% during the second quarter, Holdings Channel reports. The firm owned 689,676 shares of the company’s stock after selling 51,297 shares during the period. B. Metzler seel. Sohn & Co. AG’s holdings in Fastenal were worth $33,125,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Brighton Jones LLC acquired a new position in Fastenal during the fourth quarter worth $496,000. Integrated Wealth Concepts LLC lifted its position in shares of Fastenal by 2.4% in the first quarter. Integrated Wealth Concepts LLC now owns 6,276 shares of the company’s stock worth $487,000 after buying an additional 147 shares during the last quarter. Quantbot Technologies LP acquired a new stake in shares of Fastenal in the second quarter worth about $158,000. Jump Financial LLC bought a new stake in shares of Fastenal during the 2nd quarter worth about $2,199,000. Finally, Cary Street Partners Financial LLC increased its holdings in shares of Fastenal by 111.0% during the 2nd quarter. Cary Street Partners Financial LLC now owns 3,367 shares of the company’s stock valued at $141,000 after acquiring an additional 1,771 shares during the last quarter. 81.38% of the stock is currently owned by institutional investors.

Fastenal Stock Performance

Shares of NASDAQ FAST traded up $0.56 during trading hours on Friday, hitting $51.22. 1,475,486 shares of the company’s stock were exchanged, compared to its average volume of 8,033,400. The company’s 50-day moving average price is $47.86 and its 200-day moving average price is $46.33. Fastenal Company has a 1-year low of $38.97 and a 1-year high of $52.92. The stock has a market capitalization of $58.77 billion, a price-to-earnings ratio of 43.41, a PEG ratio of 3.21 and a beta of 0.72. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.18 and a quick ratio of 2.21.

Fastenal (NASDAQ:FAST) last released its earnings results on Tuesday, July 14th. The company reported $0.33 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.33. The firm had revenue of $2.39 billion for the quarter, compared to analyst estimates 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 posted $0.29 EPS. On average, sell-side analysts expect that Fastenal Company will post 1.26 earnings per share for the current fiscal year.

Fastenal Increases Dividend

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

Wall Street Analysts Forecast Growth

FAST has been the topic of a number of recent analyst reports. Jefferies Financial Group reissued a “buy” rating on shares of Fastenal in a research note on Thursday, June 4th. Rothschild & Co Redburn set a $55.00 target price on Fastenal and gave the stock a “buy” rating in a research report on Monday, July 13th. Barclays dropped their price target on shares of Fastenal from $47.00 to $46.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 16th. Robert W. Baird set a $54.00 price objective on shares of Fastenal in a research note on Friday, August 7th. Finally, Wolfe Research reaffirmed an “underperform” rating and set a $47.00 price objective on shares of Fastenal in a report on Thursday, July 9th. Five research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $49.17.

Insiders Place Their Bets

In other Fastenal news, Director Michael J. Ancius sold 3,000 shares of the firm’s stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $49.00, for a total value of $147,000.00. Following the sale, the director directly owned 58,690 shares in the company, valued at $2,875,810. This trade represents a 4.86% decrease in their position. The transaction was disclosed in a document filed with the SEC, 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 transaction of $1,749,948.20. Following the transaction, the director owned 20,000 shares in the company, valued at approximately $1,001,000. The trade was a 63.61% decrease in their position. The SEC filing for this sale provides additional information. 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.