Fastenal Company $FAST Shares Acquired by Eads & Heald Wealth Management

Eads & Heald Wealth Management increased its stake in Fastenal Company (NASDAQ:FAST) by 91.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 50,108 shares of the company’s stock after purchasing an additional 23,897 shares during the quarter. Eads & Heald Wealth Management’s holdings in Fastenal were worth $2,105,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Patton Fund Management Inc. acquired a new stake in shares of Fastenal in the second quarter worth $229,000. Charles Schwab Investment Management Inc. lifted its holdings in Fastenal by 8.9% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 22,615,915 shares of the company’s stock worth $1,753,864,000 after purchasing an additional 1,850,871 shares during the last quarter. Picton Mahoney Asset Management boosted its holdings in shares of Fastenal by 7.5% during the 1st quarter. Picton Mahoney Asset Management now owns 181,482 shares of the company’s stock worth $14,074,000 after buying an additional 12,721 shares during the period. KLP Kapitalforvaltning AS grew its position in shares of Fastenal by 3.9% in the first quarter. KLP Kapitalforvaltning AS now owns 195,748 shares of the company’s stock valued at $15,180,000 after purchasing an additional 7,400 shares during the last quarter. Finally, Raiffeisen Bank International AG increased its position in Fastenal by 21.5% in the 1st quarter. Raiffeisen Bank International AG now owns 35,606 shares of the company’s stock worth $2,712,000 after buying an additional 6,303 shares during the period. Institutional investors and hedge funds own 81.38% of the company’s stock.

Insiders Place Their Bets

In other Fastenal news, EVP John Lewis Soderberg sold 34,612 shares of Fastenal stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $48.03, for a total value of $1,662,414.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP William Joseph Drazkowski sold 6,842 shares of the business’s stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $48.67, for a total value of $333,000.14. Following the completion of the transaction, the executive vice president directly owned 11,994 shares in the company, valued at approximately $583,747.98. This trade represents a 36.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 111,230 shares of company stock worth $5,288,364. Company insiders own 0.37% of the company’s stock.

Wall Street Analysts Forecast Growth

FAST has been the subject of several research reports. Morgan Stanley set a $40.00 target price on Fastenal and gave the stock an “equal weight” rating in a research report on Thursday, July 3rd. Northcoast Research assumed coverage on shares of Fastenal in a research report on Thursday, August 21st. They set a “neutral” rating on the stock. Wolfe Research reissued a “positive” rating on shares of Fastenal in a report on Monday, July 14th. Stifel Nicolaus set a $82.00 target price on Fastenal in a research report on Thursday, July 3rd. Finally, Baird R W upgraded Fastenal from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 7th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $46.82.

Fastenal Trading Down 0.6%

Shares of FAST stock opened at $47.88 on Monday. Fastenal Company has a 1-year low of $34.69 and a 1-year high of $50.63. The company has a current ratio of 4.22, a quick ratio of 2.12 and a debt-to-equity ratio of 0.03. The stock has a market cap of $54.95 billion, a price-to-earnings ratio of 46.04, a PEG ratio of 4.34 and a beta of 0.94. The stock has a 50-day moving average of $48.18 and a 200-day moving average of $43.64.

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

Fastenal Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 26th. Investors of record on Tuesday, July 29th were given a dividend of $0.22 per share. The ex-dividend date was Tuesday, July 29th. This represents a $0.88 annualized dividend and a dividend yield of 1.8%. Fastenal’s dividend payout ratio is presently 84.62%.

Fastenal Profile

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.