Fielder Capital Group LLC Has $409,000 Stock Position in Fastenal Company $FAST

Fielder Capital Group LLC grew its position in shares of Fastenal Company (NASDAQ:FAST) by 99.9% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 9,740 shares of the company’s stock after acquiring an additional 4,868 shares during the quarter. Fielder Capital Group LLC’s holdings in Fastenal were worth $409,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of FAST. Riverview Trust Co boosted its position in Fastenal by 100.0% during the 2nd quarter. Riverview Trust Co now owns 584 shares of the company’s stock worth $25,000 after acquiring an additional 292 shares during the last quarter. Hilltop National Bank acquired a new position in Fastenal during the 2nd quarter worth approximately $27,000. Private Wealth Management Group LLC boosted its position in Fastenal by 111.9% during the 2nd quarter. Private Wealth Management Group LLC now owns 642 shares of the company’s stock worth $27,000 after acquiring an additional 339 shares during the last quarter. Armstrong Advisory Group Inc. boosted its holdings in shares of Fastenal by 100.0% in the 2nd quarter. Armstrong Advisory Group Inc. now owns 696 shares of the company’s stock valued at $29,000 after buying an additional 348 shares during the last quarter. Finally, AdvisorNet Financial Inc boosted its holdings in shares of Fastenal by 95.0% in the 2nd quarter. AdvisorNet Financial Inc now owns 702 shares of the company’s stock valued at $29,000 after buying an additional 342 shares during the last quarter. Institutional investors and hedge funds own 81.38% of the company’s stock.

Fastenal Stock Performance

NASDAQ:FAST opened at $42.87 on Friday. The company has a market capitalization of $49.22 billion, a PE ratio of 40.07, a P/E/G ratio of 3.92 and a beta of 0.94. The company has a 50 day simple moving average of $47.27 and a two-hundred day simple moving average of $44.19. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.19 and a current ratio of 4.26. Fastenal Company has a fifty-two week low of $35.31 and a fifty-two week high of $50.63.

Fastenal (NASDAQ:FAST) last posted its quarterly earnings results on Monday, October 13th. The company reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.01). The business had revenue of $2.13 billion for 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%.Fastenal’s quarterly revenue was up 11.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.26 earnings per share. Research analysts anticipate that Fastenal Company will post 2.15 earnings per share for the current year.

Fastenal Announces Dividend

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

Insider Transactions at Fastenal

In related news, EVP William Joseph Drazkowski sold 6,842 shares of the stock in a transaction on Friday, August 15th. The stock was sold at an average price of $48.67, for a total value of $333,000.14. Following the transaction, the executive vice president directly owned 11,994 shares in the company, valued at $583,747.98. This trade represents a 36.32% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Jeffery Michael Watts sold 48,724 shares of the firm’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 approximately $570,834. This trade represents a 80.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 90,178 shares of company stock valued at $4,336,603 in the last 90 days. 0.37% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on FAST shares. Stephens increased their price target on Fastenal from $40.00 to $45.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 15th. Morgan Stanley set a $40.00 price objective on Fastenal and gave the stock an “equal weight” rating in a research report on Thursday, July 3rd. Barclays set a $45.00 target price on Fastenal and gave the stock an “equal weight” rating in a report on Tuesday, October 14th. Robert W. Baird reduced their target price on Fastenal from $53.00 to $49.00 and set an “outperform” rating on the stock in a report on Tuesday, October 14th. Finally, Northcoast Research assumed coverage on shares of Fastenal in a report on Thursday, August 21st. They issued a “neutral” rating for the company. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Fastenal currently has a consensus rating of “Hold” and an average price target of $46.50.

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.