Rothschild Investment Corp IL Invests $508,000 in Fastenal Company (FAST)

Rothschild Investment Corp IL bought a new position in shares of Fastenal Company (NASDAQ:FAST) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 11,670 shares of the company’s stock, valued at approximately $508,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in FAST. Thrivent Financial for Lutherans increased its stake in Fastenal by 6.3% in the fourth quarter. Thrivent Financial for Lutherans now owns 10,470 shares of the company’s stock worth $492,000 after buying an additional 620 shares during the period. Perigon Wealth Management LLC increased its stake in Fastenal by 25.2% in the fourth quarter. Perigon Wealth Management LLC now owns 11,518 shares of the company’s stock worth $597,000 after buying an additional 2,320 shares during the last quarter. HighPoint Advisor Group LLC increased its stake in Fastenal by 43.3% in the fourth quarter. HighPoint Advisor Group LLC now owns 23,322 shares of the company’s stock worth $1,189,000 after buying an additional 7,042 shares during the last quarter. Pegasus Partners Ltd. increased its stake in Fastenal by 88.8% in the fourth quarter. Pegasus Partners Ltd. now owns 64,480 shares of the company’s stock worth $3,029,000 after buying an additional 30,324 shares during the last quarter. Finally, Kentucky Retirement Systems purchased a new stake in Fastenal during the fourth quarter worth approximately $985,000. 82.54% of the stock is currently owned by institutional investors and hedge funds.

Fastenal Company (FAST) traded up 0.59% on Friday, reaching $42.61. The company’s stock had a trading volume of 1,603,552 shares. The stock’s 50 day moving average is $43.14 and its 200-day moving average is $46.53. Fastenal Company has a 52 week low of $37.70 and a 52 week high of $52.74. The firm has a market capitalization of $12.27 billion, a PE ratio of 23.45 and a beta of 0.98.

Fastenal (NASDAQ:FAST) last issued its earnings results on Wednesday, July 12th. The company reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.02. Fastenal had a net margin of 12.71% and a return on equity of 26.86%. The firm had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.11 billion. During the same quarter last year, the business posted $0.46 earnings per share. The company’s quarterly revenue was up 10.6% on a year-over-year basis. Analysts predict that Fastenal Company will post $1.92 EPS for the current year.

Fastenal announced that its board has authorized a stock repurchase plan on Tuesday, July 11th that authorizes the company to repurchase 5,000,000 shares. This repurchase authorization authorizes the company to purchase shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 23rd. Stockholders of record on Wednesday, July 26th will be issued a dividend of $0.32 per share. The ex-dividend date of this dividend is Monday, July 24th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 3.00%. Fastenal’s dividend payout ratio (DPR) is presently 70.33%.

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A number of analysts have commented on the company. BidaskClub downgraded Fastenal from a “hold” rating to a “sell” rating in a research report on Friday, June 23rd. Zacks Investment Research upgraded Fastenal from a “hold” rating to a “buy” rating and set a $48.00 price objective on the stock in a research report on Thursday, August 3rd. Morgan Stanley restated an “equal weight” rating and issued a $46.00 price objective (down from $50.00) on shares of Fastenal in a research report on Monday, June 12th. UBS AG upgraded Fastenal from a “market perform” rating to an “outperform” rating in a research note on Wednesday, April 19th. Finally, Credit Suisse Group set a $52.00 target price on Fastenal and gave the company a “buy” rating in a research note on Tuesday, June 6th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company’s stock. Fastenal has an average rating of “Buy” and an average price target of $50.14.

In other news, Director Daniel L. Johnson bought 600 shares of the stock in a transaction that occurred on Monday, July 24th. The stock was acquired at an average price of $42.71 per share, with a total value of $25,626.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Holden Lewis bought 1,000 shares of the stock in a transaction that occurred on Thursday, May 25th. The shares were purchased at an average cost of $43.76 per share, with a total value of $43,760.00. Following the purchase, the chief financial officer now directly owns 1,000 shares of the company’s stock, valued at $43,760. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 3,600 shares of company stock worth $154,256. 0.55% of the stock is owned by company insiders.

Fastenal Company 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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