Fastenal Company $FAST Shares Newly Acquired by Sawyer & Company Inc

Sawyer & Company Inc purchased a new stake in Fastenal Company (NASDAQ:FAST) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 15,695 shares of the company’s stock, valued at approximately $777,000.

Several other hedge funds have also recently modified their holdings of FAST. Mowery & Schoenfeld Wealth Management LLC purchased a new position in Fastenal during the second quarter valued at approximately $26,000. Evergreen Advisors LLC purchased a new stake in Fastenal during the first quarter worth $26,000. Raleigh Capital Management Inc. lifted its holdings in Fastenal by 69.6% during the first quarter. Raleigh Capital Management Inc. now owns 748 shares of the company’s stock worth $35,000 after buying an additional 307 shares during the period. Frazier Financial Advisors LLC purchased a new stake in Fastenal during the second quarter worth $38,000. Finally, Paladin Partners LLC bought a new stake in Fastenal during the 2nd quarter valued at $39,000. Hedge funds and other institutional investors own 81.38% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Barclays cut their price target on Fastenal from $47.00 to $46.00 and set an “equal weight” rating on the stock in a report on Thursday, July 16th. Rothschild & Co Redburn set a $55.00 price objective on Fastenal and gave the stock a “buy” rating in a research note on Monday, July 13th. Morgan Stanley upped their price objective on Fastenal from $48.00 to $52.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 16th. DA Davidson set a $51.00 price objective on Fastenal and gave the company a “neutral” rating in a research report on Tuesday, October 13th. Finally, Robert W. Baird lifted their target price on Fastenal from $59.00 to $60.00 and gave the company an “outperform” rating in a research note on Thursday, October 15th. Seven equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, Fastenal currently has an average rating of “Hold” and an average price target of $51.46.

Fastenal Stock Up 1.8%

Shares of NASDAQ FAST traded up $0.93 during trading hours on Wednesday, hitting $52.58. 2,310,213 shares of the stock were exchanged, compared to its average volume of 7,894,717. Fastenal Company has a 12 month low of $38.97 and a 12 month high of $52.92. The firm has a fifty day moving average price of $50.31 and a 200-day moving average price of $47.61. The company has a quick ratio of 2.11, a current ratio of 3.93 and a debt-to-equity ratio of 0.01. The company has a market cap of $60.33 billion, a PE ratio of 42.33, a PEG ratio of 3.07 and a beta of 0.69.

Fastenal (NASDAQ:FAST) last announced its earnings results on Wednesday, October 14th. The company reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.01. Fastenal had a net margin of 15.62% and a return on equity of 35.13%. The company had revenue of $2.46 billion during the quarter, compared to the consensus estimate of $2.44 billion. During the same period last year, the firm earned $0.29 earnings per share. Fastenal’s revenue was up 15.5% compared to the same quarter last year. On average, sell-side analysts expect that Fastenal Company will post 1.27 EPS for the current year.

Fastenal Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 25th. Shareholders of record on Wednesday, October 28th will be given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend is Wednesday, October 28th. Fastenal’s payout ratio is currently 83.87%.

Insider Activity at Fastenal

In other Fastenal news, Director Rita J. Heise sold 34,964 shares of the company’s stock in a transaction that occurred on Wednesday, August 5th. The shares were 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. This represents a 63.61% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Michael Ancius sold 3,000 shares of the firm’s stock in a transaction 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 completion of the transaction, the director directly owned 58,690 shares of the company’s stock, valued at approximately $2,875,810. This represents a 4.86% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.28% of the stock is currently owned by insiders.

Fastenal Company Profile

Fastenal Company is a distributor of industrial and construction supplies headquartered in Winona, Minnesota. Founded in 1967, the company primarily serves businesses that require products for manufacturing, construction, maintenance, repair and operations.

Its product range includes threaded fasteners, bolts, nuts, screws, industrial and safety supplies, tools, electrical and plumbing products, material-handling equipment, and other related items. Fastenal also provides inventory-management solutions, including automated vending machines, customer-specific inventory programs and onsite services designed to improve product availability and purchasing efficiency.

Fastenal serves customers through a network of locations and sales channels across the United States, Canada, Mexico, Europe and parts of Asia.