Vontobel Holding Ltd. Has $1.29 Million Holdings in Fastenal Company $FAST

Vontobel Holding Ltd. cut its stake in shares of Fastenal Company (NASDAQ:FAST) by 11.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 30,762 shares of the company’s stock after selling 4,044 shares during the period. Vontobel Holding Ltd.’s holdings in Fastenal were worth $1,292,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the stock. Riverview Trust Co increased its holdings in shares of Fastenal by 100.0% during 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. Hilltop National Bank bought a new position in shares of Fastenal during the second quarter worth approximately $27,000. Armstrong Advisory Group Inc. increased its stake in Fastenal by 100.0% in the second quarter. Armstrong Advisory Group Inc. now owns 696 shares of the company’s stock valued at $29,000 after acquiring an additional 348 shares during the last quarter. AdvisorNet Financial Inc increased its stake in Fastenal by 95.0% in the second quarter. AdvisorNet Financial Inc now owns 702 shares of the company’s stock valued at $29,000 after acquiring an additional 342 shares during the last quarter. Finally, Clean Yield Group increased its stake in Fastenal by 100.0% in the second quarter. Clean Yield Group now owns 696 shares of the company’s stock valued at $29,000 after acquiring an additional 348 shares during the last quarter. 81.38% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on FAST shares. Loop Capital reissued a “hold” rating on shares of Fastenal in a research note on Tuesday, July 15th. Weiss Ratings reissued a “buy (b)” rating on shares of Fastenal in a research note on Wednesday, October 8th. Stephens lifted their price objective 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. Robert W. Baird raised shares of Fastenal from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $47.00 to $55.00 in a research note on Thursday, August 7th. Finally, Wolfe Research reissued a “positive” rating on shares of Fastenal in a research note on Monday, July 14th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $47.41.

Fastenal Stock Performance

Shares of Fastenal stock opened at $45.78 on Monday. Fastenal Company has a fifty-two week low of $35.31 and a fifty-two week high of $50.63. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.22 and a quick ratio of 2.12. The firm has a market capitalization of $52.54 billion, a P/E ratio of 44.02, a P/E/G ratio of 4.15 and a beta of 0.94. The company’s 50 day moving average price is $48.26 and its two-hundred day moving average price is $43.94.

Fastenal (NASDAQ:FAST) last issued its earnings results 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 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 analyst estimates of $2.07 billion. During the same quarter last year, the business posted $0.25 earnings per share. The company’s quarterly revenue was up 8.6% on a year-over-year basis. On average, equities analysts forecast that Fastenal Company will post 2.15 earnings per share for the current fiscal year.

Fastenal Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 25th. Shareholders of record on Tuesday, October 28th will be given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 1.9%. Fastenal’s dividend payout ratio is currently 84.62%.

Insider Buying and Selling at Fastenal

In other news, EVP John Lewis Soderberg sold 34,612 shares of Fastenal stock in a transaction on Friday, August 8th. The shares were sold at an average price of $48.03, for a total transaction of $1,662,414.36. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Sheryl Ann Lisowski sold 21,052 shares of Fastenal stock in a transaction on Thursday, July 17th. The stock was sold at an average price of $45.21, for a total transaction of $951,760.92. Following the transaction, the chief financial officer owned 10,192 shares in the company, valued at approximately $460,780.32. This trade represents a 67.38% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 111,230 shares of company stock worth $5,288,364 in the last three months. 0.37% of the stock is currently owned by company insiders.

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.