Crews Bank & Trust Has $86,000 Stock Holdings in Fastenal Company $FAST

Crews Bank & Trust grew its position in shares of Fastenal Company (NASDAQ:FAST) by 100.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,050 shares of the company’s stock after buying an additional 1,025 shares during the quarter. Crews Bank & Trust’s holdings in Fastenal were worth $86,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of FAST. Charles Schwab Investment Management Inc. increased its holdings in shares of Fastenal by 8.9% during the first quarter. Charles Schwab Investment Management Inc. now owns 22,615,915 shares of the company’s stock worth $1,753,864,000 after buying an additional 1,850,871 shares in the last quarter. Congress Asset Management Co. acquired a new stake in shares of Fastenal during the second quarter worth approximately $73,733,000. Confluence Investment Management LLC increased its holdings in shares of Fastenal by 97.5% during the second quarter. Confluence Investment Management LLC now owns 3,280,009 shares of the company’s stock worth $137,760,000 after buying an additional 1,619,507 shares in the last quarter. Nuveen LLC acquired a new stake in shares of Fastenal during the first quarter worth approximately $119,136,000. Finally, Champlain Investment Partners LLC increased its holdings in shares of Fastenal by 266.4% during the first quarter. Champlain Investment Partners LLC now owns 1,824,055 shares of the company’s stock worth $141,455,000 after buying an additional 1,326,260 shares in the last quarter. Institutional investors and hedge funds own 81.38% of the company’s stock.

Analyst Ratings Changes

FAST has been the topic of several research analyst reports. JPMorgan Chase & Co. increased their price target on shares of Fastenal from $41.00 to $46.00 and gave the company a “neutral” rating in a research note on Thursday, September 4th. Northcoast Research initiated coverage on shares of Fastenal in a research note on Thursday, August 21st. They set a “neutral” rating on the stock. Stephens increased their price target on shares of Fastenal from $40.00 to $45.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 15th. Weiss Ratings reissued a “buy (b)” rating on shares of Fastenal in a research note on Saturday, September 27th. Finally, Baird R W raised shares of Fastenal from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 7th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $46.82.

Insider Activity

In other news, CFO Sheryl Ann Lisowski sold 21,052 shares of Fastenal stock in a transaction on Thursday, July 17th. The shares were sold at an average price of $45.21, for a total transaction of $951,760.92. Following the transaction, the chief financial officer directly owned 10,192 shares of the company’s stock, valued at $460,780.32. This trade represents a 67.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP William Joseph Drazkowski sold 6,842 shares of Fastenal stock in a transaction on Friday, August 15th. The stock was sold at an average price of $48.67, for a total transaction of $333,000.14. Following the transaction, the executive vice president directly owned 11,994 shares in the company, valued at approximately $583,747.98. This represents a 36.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 111,230 shares of company stock valued at $5,288,364. 0.37% of the stock is owned by company insiders.

Fastenal Price Performance

Shares of FAST stock opened at $47.88 on Friday. Fastenal Company has a 52-week low of $34.69 and a 52-week high of $50.63. The stock has a market cap of $54.95 billion, a PE ratio of 46.04, a PEG ratio of 4.37 and a beta of 0.94. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.12 and a current ratio of 4.22. The firm’s 50 day moving average price is $48.18 and its two-hundred day moving average price is $43.56.

Fastenal (NASDAQ:FAST) last announced its quarterly earnings data on Monday, July 14th. The company reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.01. Fastenal had a net margin of 15.30% and a return on equity of 32.33%. The firm had revenue of $2.08 billion for the quarter, compared to analysts’ expectations of $2.07 billion. During the same period last year, the firm earned $0.25 earnings per share. The business’s revenue for the quarter was up 8.6% on a year-over-year basis. As a group, analysts forecast that Fastenal Company will post 2.15 EPS for the current year.

Fastenal Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 26th. Stockholders of record on Tuesday, July 29th were given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend was Tuesday, July 29th. Fastenal’s dividend payout ratio (DPR) is currently 84.62%.

About Fastenal

Fastenal Company, together with its subsidiaries, engages in the wholesale distribution of industrial and construction supplies in the United States, Canada, Mexico, North America, and internationally. It offers fasteners, and related industrial and construction supplies under the Fastenal name. The company’s fastener products include threaded fasteners, bolts, nuts, screws, studs, and related washers that are used in manufactured products and construction projects, as well as in the maintenance and repair of machines.