Private Wealth Management Group LLC Has $27,000 Stock Holdings in Fastenal Company $FAST

Private Wealth Management Group LLC lifted its position in Fastenal Company (NASDAQ:FAST) by 111.9% during the second quarter, HoldingsChannel.com reports. The fund owned 642 shares of the company’s stock after purchasing an additional 339 shares during the period. Private Wealth Management Group LLC’s holdings in Fastenal were worth $27,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of FAST. Brighton Jones LLC acquired a new stake in Fastenal during the 4th quarter worth approximately $496,000. GAMMA Investing LLC raised its holdings in Fastenal by 11.4% during the 1st quarter. GAMMA Investing LLC now owns 21,847 shares of the company’s stock worth $1,694,000 after buying an additional 2,240 shares during the period. Wealth Enhancement Advisory Services LLC raised its holdings in Fastenal by 55.4% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 364,694 shares of the company’s stock worth $28,282,000 after buying an additional 130,071 shares during the period. Clarius Group LLC raised its holdings in Fastenal by 21.4% during the 1st quarter. Clarius Group LLC now owns 4,778 shares of the company’s stock worth $371,000 after buying an additional 841 shares during the period. Finally, CWA Asset Management Group LLC raised its holdings in Fastenal by 5.6% during the 1st quarter. CWA Asset Management Group LLC now owns 14,479 shares of the company’s stock worth $1,123,000 after buying an additional 765 shares during the period. 81.38% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Fastenal

In other Fastenal 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Hsenghung Sam Hsu acquired 1,000 shares of Fastenal stock in a transaction on Thursday, October 16th. The shares were bought at an average cost of $42.45 per share, with a total value of $42,450.00. Following the completion of the transaction, the director owned 9,000 shares of the company’s stock, valued at approximately $382,050. This trade represents a 12.50% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders sold 90,178 shares of company stock valued at $4,336,603. 0.37% of the stock is owned by company insiders.

Fastenal Price Performance

NASDAQ:FAST opened at $42.46 on Friday. Fastenal Company has a 1-year low of $35.31 and a 1-year 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 firm has a fifty day simple moving average of $47.83 and a 200 day simple moving average of $44.00. The stock has a market capitalization of $48.73 billion, a PE ratio of 39.68, a P/E/G ratio of 3.83 and a beta of 0.94.

Fastenal (NASDAQ:FAST) last released its earnings results 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 net margin of 15.34% and a return on equity of 32.69%. The firm 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 business posted $0.26 earnings per share. Fastenal’s quarterly revenue was up 11.7% compared to the same quarter last year. On average, research analysts expect that Fastenal Company will post 2.15 EPS for the current fiscal year.

Fastenal Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 25th. Shareholders of record on Tuesday, October 28th will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date of this dividend is Tuesday, October 28th. Fastenal’s payout ratio is 82.24%.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Baird R W upgraded shares of Fastenal from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 7th. Stephens raised their price target on shares of Fastenal from $40.00 to $45.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 15th. Barclays set a $45.00 price target on shares of Fastenal and gave the stock an “equal weight” rating in a research note on Tuesday. Robert W. Baird decreased their price target on shares of Fastenal from $53.00 to $49.00 and set an “outperform” rating for the company in a research note on Tuesday. Finally, JPMorgan Chase & Co. raised their price target on shares of Fastenal from $41.00 to $46.00 and gave the stock a “neutral” rating in a research note on Thursday, September 4th. One investment 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 stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $46.50.

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.