Fastenal Company $FAST Shares Acquired by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC increased its stake in Fastenal Company (NASDAQ:FAST) by 177.4% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 44,441 shares of the company’s stock after buying an additional 28,418 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Fastenal were worth $1,867,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the stock. Riverview Trust Co grew its stake in Fastenal by 100.0% during the 2nd 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 stake in Fastenal during the 2nd quarter valued at approximately $27,000. Armstrong Advisory Group Inc. grew its stake in Fastenal by 100.0% during the 2nd 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 grew its stake in Fastenal by 95.0% during the 2nd 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 grew its stake in Fastenal by 100.0% during the 2nd 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. Institutional investors and hedge funds own 81.38% of the company’s stock.

Fastenal Price Performance

Shares of FAST opened at $41.96 on Friday. The firm has a market cap of $48.15 billion, a price-to-earnings ratio of 39.22, a PEG ratio of 3.85 and a beta of 0.94. Fastenal Company has a 52 week low of $35.31 and a 52 week high of $50.63. The company has a current ratio of 4.26, a quick ratio of 2.12 and a debt-to-equity ratio of 0.03. The stock has a 50 day moving average of $47.95 and a 200-day moving average of $43.97.

Fastenal (NASDAQ:FAST) last announced its quarterly earnings results on Monday, October 13th. The company reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.01). The company had revenue of $2.13 billion during the quarter, compared to the consensus estimate of $2.13 billion. Fastenal had a return on equity of 32.69% and a net margin of 15.34%.The company’s revenue for the quarter was up 11.7% on a year-over-year basis. During the same period last year, the business posted $0.26 EPS. As a group, analysts forecast that Fastenal Company will post 2.15 EPS for the current year.

Fastenal Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 25th. Investors of record on Tuesday, October 28th will be issued 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 dividend payout ratio (DPR) is 82.24%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Loop Capital restated a “hold” rating on shares of Fastenal in a research note on Tuesday, July 15th. Stifel Nicolaus set a $82.00 price objective on Fastenal in a research note on Thursday, July 3rd. Weiss Ratings reiterated a “buy (b)” rating on shares of Fastenal in a research report on Wednesday, October 8th. Stephens lifted their target price on Fastenal from $40.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 15th. Finally, JPMorgan Chase & Co. lifted their target price on Fastenal from $41.00 to $46.00 and gave the stock a “neutral” rating in a research report on Thursday, September 4th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Fastenal currently has an average rating of “Hold” and a consensus target price of $46.50.

Insider Buying and Selling

In related news, EVP John Lewis Soderberg sold 34,612 shares of the firm’s 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 SEC, which is accessible through the SEC website. Also, Director Hsenghung Sam Hsu purchased 1,000 shares of the business’s stock in a transaction that occurred on Thursday, October 16th. The stock was bought at an average cost of $42.45 per share, for a total transaction of $42,450.00. Following the acquisition, the director owned 9,000 shares in the company, valued at approximately $382,050. The trade was a 12.50% increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders sold 90,178 shares of company stock worth $4,336,603. Company insiders own 0.37% of the company’s stock.

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.