7,214 Shares in Fastenal Company $FAST Acquired by Klingman & Associates LLC

Klingman & Associates LLC acquired a new position in Fastenal Company (NASDAQ:FAST) during the second quarter, HoldingsChannel.com reports. The fund acquired 7,214 shares of the company’s stock, valued at approximately $303,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in FAST. Vanguard Group Inc. raised its stake in Fastenal by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 73,317,271 shares of the company’s stock worth $5,685,754,000 after acquiring an additional 1,016,479 shares during the period. Charles Schwab Investment Management Inc. raised its stake in Fastenal by 8.9% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 22,615,915 shares of the company’s stock worth $1,753,864,000 after acquiring an additional 1,850,871 shares during the period. Baird Financial Group Inc. raised its stake in Fastenal by 1.7% during the 1st quarter. Baird Financial Group Inc. now owns 8,418,765 shares of the company’s stock worth $652,875,000 after acquiring an additional 142,972 shares during the period. Blair William & Co. IL raised its stake in Fastenal by 107.2% during the 2nd quarter. Blair William & Co. IL now owns 6,822,973 shares of the company’s stock worth $286,565,000 after acquiring an additional 3,530,339 shares during the period. Finally, Principal Financial Group Inc. raised its stake in Fastenal by 2.6% during the 1st quarter. Principal Financial Group Inc. now owns 6,591,850 shares of the company’s stock worth $511,198,000 after acquiring an additional 168,830 shares during the period. Hedge funds and other institutional investors own 81.38% of the company’s stock.

Fastenal Trading Up 0.8%

Fastenal stock opened at $43.32 on Wednesday. The stock has a market cap of $49.73 billion, a P/E ratio of 40.49, a PEG ratio of 3.92 and a beta of 0.94. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.26 and a quick ratio of 2.19. Fastenal Company has a 1 year low of $35.31 and a 1 year high of $50.63. The firm’s 50 day moving average price is $47.63 and its 200-day moving average price is $44.10.

Fastenal (NASDAQ:FAST) last announced its quarterly 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 return on equity of 32.69% and a net margin of 15.34%.The business had revenue of $2.13 billion during the quarter, compared to the consensus estimate of $2.13 billion. During the same quarter in the prior year, the firm posted $0.26 EPS. The company’s revenue for the quarter was up 11.7% on a year-over-year basis. On average, equities analysts predict that Fastenal Company will post 2.15 earnings per share for the current fiscal year.

Fastenal Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 25th. Investors of record on Tuesday, October 28th will be given a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 2.0%. The ex-dividend date is Tuesday, October 28th. Fastenal’s payout ratio is currently 82.24%.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Barclays set a $45.00 target price on shares of Fastenal and gave the stock an “equal weight” rating in a research note on Tuesday, October 14th. Robert W. Baird decreased their target price on shares of Fastenal from $53.00 to $49.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 14th. Loop Capital reiterated a “hold” rating on shares of Fastenal in a research report on Tuesday, July 15th. 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 report on Tuesday, July 15th. Finally, Stifel Nicolaus set a $82.00 price objective on shares of Fastenal in a research report on Thursday, July 3rd. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $46.50.

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 sale, the insider owned 11,880 shares in the company, valued at approximately $570,834. The trade was a 80.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Hsenghung Sam Hsu purchased 1,000 shares of Fastenal stock in a transaction that occurred on Thursday, October 16th. The stock was acquired at an average price of $42.45 per share, for a total transaction of $42,450.00. Following the transaction, the director directly owned 9,000 shares of the company’s stock, valued at $382,050. The trade was a 12.50% increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 90,178 shares of company stock worth $4,336,603. Company insiders own 0.37% of the company’s stock.

Fastenal 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.