Krilogy Financial LLC Boosts Stake in Fastenal Company (FAST)

Krilogy Financial LLC lifted its position in shares of Fastenal Company (NASDAQ:FAST) by 2.0% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 3,530 shares of the company’s stock after acquiring an additional 70 shares during the quarter. Krilogy Financial LLC’s holdings in Fastenal were worth $154,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of FAST. Commonwealth Bank of Australia boosted its stake in Fastenal by 44.9% in the 2nd quarter. Commonwealth Bank of Australia now owns 2,429 shares of the company’s stock worth $104,000 after purchasing an additional 753 shares during the period. Parkside Financial Bank & Trust boosted its stake in Fastenal by 3.0% in the 2nd quarter. Parkside Financial Bank & Trust now owns 3,025 shares of the company’s stock worth $132,000 after purchasing an additional 88 shares during the period. FNY Managed Accounts LLC bought a new position in Fastenal in the 1st quarter worth about $133,000. CENTRAL TRUST Co boosted its stake in Fastenal by 13.4% in the 2nd quarter. CENTRAL TRUST Co now owns 3,665 shares of the company’s stock worth $159,000 after purchasing an additional 433 shares during the period. Finally, Clearbridge Investments LLC boosted its stake in Fastenal by 417.7% in the 1st quarter. Clearbridge Investments LLC now owns 3,277 shares of the company’s stock worth $169,000 after purchasing an additional 2,644 shares during the period. Institutional investors own 83.02% of the company’s stock.

Several brokerages have commented on FAST. BMO Capital Markets restated a “market perform” rating and issued a $51.00 target price (up previously from $46.00) on shares of Fastenal in a research note on Tuesday. Morgan Stanley restated an “equal weight” rating and issued a $46.00 target price (up previously from $44.00) on shares of Fastenal in a research note on Monday, October 2nd. Stephens set a $54.00 target price on Fastenal and gave the stock a “buy” rating in a research note on Wednesday. KeyCorp restated a “buy” rating and issued a $52.00 target price on shares of Fastenal in a research note on Thursday. Finally, BidaskClub upgraded Fastenal from a “sell” rating to a “hold” rating in a research note on Wednesday, July 5th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $50.80.

In related news, Director Stephen L. Eastman acquired 800 shares of the firm’s stock in a transaction on Tuesday, August 22nd. The shares were acquired at an average cost of $40.58 per share, for a total transaction of $32,464.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Daniel L. Johnson acquired 600 shares of the firm’s stock in a transaction on Monday, July 24th. The shares were bought at an average price of $42.71 per share, for a total transaction of $25,626.00. The disclosure for this purchase can be found here. Over the last 90 days, insiders have acquired 3,400 shares of company stock worth $142,960. Company insiders own 0.55% of the company’s stock.

Shares of Fastenal Company (NASDAQ:FAST) traded up 1.20% during trading on Friday, reaching $46.49. The company’s stock had a trading volume of 856,284 shares. The company has a 50 day moving average of $43.94 and a 200-day moving average of $44.35. The stock has a market cap of $13.36 billion, a price-to-earnings ratio of 24.79 and a beta of 1.00. Fastenal Company has a 12-month low of $37.70 and a 12-month high of $52.74.

Fastenal (NASDAQ:FAST) last issued its quarterly earnings data on Wednesday, October 11th. The company reported $0.50 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.50. Fastenal had a return on equity of 27.28% and a net margin of 12.73%. The business had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.12 billion. During the same period in the prior year, the business posted $0.44 earnings per share. The company’s quarterly revenue was up 11.8% compared to the same quarter last year. Analysts forecast that Fastenal Company will post $1.92 EPS for the current year.

Fastenal announced that its Board of Directors has initiated a share repurchase plan on Tuesday, July 11th that authorizes the company to buyback 5,000,000 outstanding shares. This buyback authorization authorizes the company to purchase shares of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its stock is undervalued.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 22nd. Shareholders of record on Wednesday, October 25th will be given a dividend of $0.32 per share. The ex-dividend date of this dividend is Tuesday, October 24th. This represents a $1.28 dividend on an annualized basis and a yield of 2.79%. Fastenal’s dividend payout ratio (DPR) is presently 68.09%.

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Fastenal Profile

Fastenal Company is engaged in wholesale distribution of industrial and construction supplies. The Company is engaged in fastener distribution, and non-fastener maintenance and supply business. As of December 31, 2016, it distributed these supplies through a network of approximately 2,500 stores. Its customers are in the manufacturing and non-residential construction markets.

Institutional Ownership by Quarter for Fastenal (NASDAQ:FAST)

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