Fastenal Company $FAST Shares Acquired by Mcdonald Capital Investors Inc. CA

Mcdonald Capital Investors Inc. CA boosted its stake in Fastenal Company (NASDAQ:FAST) by 27.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 958,004 shares of the company’s stock after purchasing an additional 203,562 shares during the period. Fastenal makes up about 2.5% of Mcdonald Capital Investors Inc. CA’s investment portfolio, making the stock its 15th biggest holding. Mcdonald Capital Investors Inc. CA owned approximately 0.08% of Fastenal worth $40,236,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in FAST. Brighton Jones LLC acquired a new stake in Fastenal in the 4th quarter valued at $496,000. GAMMA Investing LLC increased its holdings in Fastenal by 11.4% in the 1st quarter. GAMMA Investing LLC now owns 21,847 shares of the company’s stock valued at $1,694,000 after purchasing an additional 2,240 shares in the last quarter. Golden State Wealth Management LLC increased its holdings in Fastenal by 5,661.5% in the 1st quarter. Golden State Wealth Management LLC now owns 749 shares of the company’s stock valued at $58,000 after purchasing an additional 736 shares in the last quarter. Perigon Wealth Management LLC increased its holdings in Fastenal by 223.0% in the 1st quarter. Perigon Wealth Management LLC now owns 9,715 shares of the company’s stock valued at $753,000 after purchasing an additional 6,707 shares in the last quarter. Finally, Pure Financial Advisors LLC acquired a new stake in Fastenal in the 1st quarter valued at $231,000. 81.38% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on FAST. Loop Capital reiterated a “hold” rating on shares of Fastenal in a report on Tuesday, July 15th. Weiss Ratings reissued a “buy (b)” rating on shares of Fastenal in a research report on Saturday. Stephens upped 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. Baird R W raised shares of Fastenal from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 7th. Finally, Morgan Stanley set a $40.00 price objective on shares of Fastenal and gave the company an “equal weight” rating in a research report on Thursday, July 3rd. One 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 assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $46.50.

Insider Activity at Fastenal

In other news, insider Jeffery Michael Watts sold 48,724 shares of the stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $48.05, for a total transaction of $2,341,188.20. Following the transaction, the insider owned 11,880 shares of the company’s stock, valued at approximately $570,834. This trade represents 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, EVP John Lewis Soderberg sold 34,612 shares of the stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $48.03, for a total transaction of $1,662,414.36. The disclosure for this sale can be found here. Over the last three months, insiders sold 90,178 shares of company stock worth $4,336,603. 0.37% of the stock is currently owned by company insiders.

Fastenal Stock Performance

NASDAQ:FAST opened at $42.87 on Friday. 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 has a 50-day moving average of $47.27 and a two-hundred day moving average of $44.25. The stock has a market cap of $49.22 billion, a P/E ratio of 40.07, a PEG ratio of 3.91 and a beta of 0.94.

Fastenal (NASDAQ:FAST) last issued its quarterly earnings results on Monday, October 13th. The company reported $0.29 EPS 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 company had revenue of $2.13 billion for the quarter, compared to the consensus estimate of $2.13 billion. During the same period in the previous year, the business posted $0.26 EPS. The business’s revenue for the quarter was up 11.7% on a year-over-year basis. On average, research analysts expect that Fastenal Company will post 2.15 earnings per share for the current fiscal year.

Fastenal Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 25th. Stockholders of record on Tuesday, October 28th will be given a dividend of $0.22 per share. 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 presently 82.24%.

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.