Astoria Portfolio Advisors LLC. Has $262,000 Stock Position in Fastenal Company $FAST

Astoria Portfolio Advisors LLC. raised its position in shares of Fastenal Company (NASDAQ:FAST) by 95.1% in the 2nd quarter, Holdings Channel reports. The firm owned 6,232 shares of the company’s stock after acquiring an additional 3,038 shares during the period. Astoria Portfolio Advisors LLC.’s holdings in Fastenal were worth $262,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in FAST. Riverview Trust Co raised its position in Fastenal by 100.0% during the second quarter. Riverview Trust Co now owns 584 shares of the company’s stock valued at $25,000 after purchasing an additional 292 shares in the last quarter. Hilltop National Bank acquired a new position in Fastenal during the second quarter valued at approximately $27,000. Armstrong Advisory Group Inc. raised its position in Fastenal by 100.0% during the second quarter. Armstrong Advisory Group Inc. now owns 696 shares of the company’s stock valued at $29,000 after purchasing an additional 348 shares in the last quarter. AdvisorNet Financial Inc raised its position in Fastenal by 95.0% during the second quarter. AdvisorNet Financial Inc now owns 702 shares of the company’s stock valued at $29,000 after purchasing an additional 342 shares in the last quarter. Finally, Clean Yield Group raised its position in Fastenal by 100.0% during the second quarter. Clean Yield Group now owns 696 shares of the company’s stock valued at $29,000 after purchasing an additional 348 shares in the last quarter. 81.38% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

FAST has been the topic of a number of research reports. Stifel Nicolaus set a $82.00 target price on shares of Fastenal in a research note on Thursday, July 3rd. Morgan Stanley set a $40.00 target price on shares of Fastenal and gave the stock an “equal weight” rating in a research note on Thursday, July 3rd. Loop Capital reaffirmed a “hold” rating on shares of Fastenal in a research note on Tuesday, July 15th. Northcoast Research initiated coverage on shares of Fastenal in a research note on Thursday, August 21st. They set a “neutral” rating on the stock. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Fastenal in a research note on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $47.41.

Fastenal Stock Performance

Shares of Fastenal stock opened at $42.33 on Tuesday. The company has a quick ratio of 2.12, a current ratio of 4.22 and a debt-to-equity ratio of 0.03. Fastenal Company has a twelve month low of $35.31 and a twelve month high of $50.63. The stock has a market cap of $48.58 billion, a price-to-earnings ratio of 40.70, a P/E/G ratio of 4.15 and a beta of 0.94. The company’s fifty day moving average is $48.20 and its 200 day moving average is $43.97.

Fastenal (NASDAQ:FAST) last issued its quarterly earnings data on Monday, October 13th. The company reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.01). Fastenal had a return on equity of 32.33% and a net margin of 15.30%.The business had revenue of $2.13 billion during the quarter, compared to the consensus estimate of $2.13 billion. During the same period in the prior year, the firm earned $0.26 EPS. The business’s revenue for the quarter was up 11.7% compared to the same quarter last year. Sell-side analysts forecast that Fastenal Company will post 2.15 EPS for the current year.

Fastenal Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 25th. Investors of record on Tuesday, October 28th will be paid a $0.22 dividend. The ex-dividend date of this dividend is Tuesday, October 28th. This represents a $0.88 annualized dividend and a dividend yield of 2.1%. Fastenal’s payout ratio is currently 84.62%.

Insider Buying and Selling at Fastenal

In related news, insider Jeffery Michael Watts sold 48,724 shares of the business’s stock in a transaction on Friday, August 8th. The shares were sold at an average price of $48.05, for a total value of $2,341,188.20. Following the transaction, the insider owned 11,880 shares in the company, valued at $570,834. The trade was a 80.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Sheryl Ann Lisowski sold 21,052 shares of the business’s 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 completion of the transaction, the chief financial officer owned 10,192 shares in the company, valued at approximately $460,780.32. The trade was a 67.38% decrease in their position. The disclosure for this sale can be found here. In 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.

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.