Richwood Investment Advisors LLC Grows Holdings in Fastenal Company $FAST

Richwood Investment Advisors LLC grew its holdings in Fastenal Company (NASDAQ:FAST) by 104.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,373 shares of the company’s stock after purchasing an additional 4,786 shares during the period. Richwood Investment Advisors LLC’s holdings in Fastenal were worth $394,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. 1248 Management LLC purchased a new stake in Fastenal in the first quarter worth $36,000. Horizon Financial Services LLC increased its stake in Fastenal by 5,330.0% in the first quarter. Horizon Financial Services LLC now owns 543 shares of the company’s stock worth $42,000 after purchasing an additional 533 shares during the period. Riverview Trust Co increased its stake in Fastenal by 100.0% in the second quarter. Riverview Trust Co now owns 584 shares of the company’s stock worth $25,000 after purchasing an additional 292 shares during the period. Zions Bancorporation National Association UT purchased a new stake in Fastenal in the first quarter worth $49,000. Finally, Hilltop National Bank purchased a new stake in Fastenal in the second quarter worth $27,000. Hedge funds and other institutional investors own 81.38% of the company’s stock.

Insider Buying and Selling

In related news, EVP William Joseph Drazkowski sold 6,842 shares of the firm’s stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $48.67, for a total transaction of $333,000.14. Following the sale, the executive vice president owned 11,994 shares of the company’s stock, valued at $583,747.98. This trade represents a 36.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP John Lewis Soderberg sold 34,612 shares of the business’s stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $48.03, for a total value of $1,662,414.36. The disclosure for this sale can be found here. Insiders sold 111,230 shares of company stock worth $5,288,364 in the last three months. 0.37% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on FAST shares. Northcoast Research started coverage on 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 research report on Monday, July 14th. JPMorgan Chase & Co. increased their price target on Fastenal from $41.00 to $46.00 and gave the stock a “neutral” rating in a research report on Thursday, September 4th. Baird R W raised Fastenal from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 7th. Finally, Stifel Nicolaus set a $82.00 price target on Fastenal in a research report on Thursday, July 3rd. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $47.25.

Fastenal Price Performance

Shares of FAST stock opened at $47.78 on Tuesday. Fastenal Company has a 1-year low of $34.69 and a 1-year high of $50.63. The stock’s 50-day moving average is $48.20 and its 200 day moving average is $43.71. The company has a market cap of $54.83 billion, a P/E ratio of 45.94, a PEG ratio of 4.34 and a beta of 0.94. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.22 and a quick ratio of 2.12.

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

Fastenal Cuts Dividend

The business also recently disclosed 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 of this dividend was Tuesday, July 29th. This represents a $0.88 dividend on an annualized basis and a yield of 1.8%. Fastenal’s dividend payout ratio (DPR) is presently 84.62%.

Fastenal Company 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.